A share of Altus Power Inc. (NYSE:AMPS) closed at $7.21 per share on Wednesday, up from $6.20 day before. While Altus Power Inc. has overperformed by 16.29%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, AMPS fell by -31.33%, with highs and lows ranging from $14.72 to $4.26, whereas the simple moving average fell by -11.07% in the last 200 days.
On January 04, 2023, Evercore ISI started tracking Altus Power Inc. (NYSE: AMPS) recommending Outperform. A report published by JP Morgan on November 14, 2022, Upgraded its rating to ‘Overweight’ for AMPS. UBS also rated AMPS shares as ‘Buy’, setting a target price of $14 on the company’s shares in an initiating report dated October 25, 2022. JP Morgan Initiated an Neutral rating on July 18, 2022, and assigned a price target of $9. Citigroup July 08, 2022d its ‘Buy’ rating to ‘Neutral’ for AMPS, as published in its report on July 08, 2022. Morgan Stanley’s report from April 07, 2022 suggests a price prediction of $10.50 for AMPS shares, giving the stock a ‘Equal-Weight’ rating. Citigroup also rated the stock as ‘Buy’.
Analysis of Altus Power Inc. (AMPS)
Further, the quarter-over-quarter increase in sales is 51.20%, showing a positive trend in the upcoming months.
Altus Power Inc.’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of 13.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 9.70, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and AMPS is registering an average volume of 990.31K. On a monthly basis, the volatility of the stock is set at 7.01%, whereas on a weekly basis, it is put at 8.49%, with a gain of 15.73% over the past seven days. Furthermore, long-term investors anticipate a median target price of $12.17, showing growth from the present price of $7.21, which can serve as yet another indication of whether AMPS is worth investing in or should be passed over.
How Do You Analyze Altus Power Inc. Shares?
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 58.04%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 41.40% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in AMPS shares?
The recent increase in stakes in AMPS appears to be a result of several institutional investors and hedge funds increasing their positions. Blackstone Alternative Credit Adv’s position in AMPS has decreased by -4.81% in the first quarter. The company now owns 20,775,125 shares of the stock, with a value of $148.54 million, following the sale of -1,050,000 additional shares during the last quarter. ValueAct Capital Management LP made another increased to its shares in AMPS during the first quarter, upping its stake by 0.13%. During the last quarter, the company picked up 5,088 additional shares for a total stake of worth $28.64 million, bringing number of shares owned by the company to 4,005,108.
At the end of the first quarter, BlackRock Fund Advisors decreased its AMPS holdings by -4.84% and now holds 2.44 million AMPS shares valued at $17.45 million with the lessened -0.12 million shares during the period. AMPS shares are owned by institutional investors to the tune of 41.40% at present.