The share price of Altus Power Inc. (NYSE:AMPS) fell to $8.15 per share on Tuesday from $8.34. While Altus Power Inc. has underperformed by -2.28%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, AMPS rose by 4.76%, with highs and lows ranging from $14.72 to $4.26, whereas the simple moving average jumped by 0.38% in the last 200 days.
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On January 10, 2023, Morgan Stanley Upgraded Altus Power Inc. (NYSE: AMPS) to Overweight. A report published by Evercore ISI on January 04, 2023, Initiated its previous ‘Outperform’ rating for AMPS. JP Morgan also Upgraded AMPS shares as ‘Overweight’, setting a target price of $10 on the company’s shares in a report dated November 14, 2022. UBS Initiated an Buy rating on October 25, 2022, and assigned a price target of $14. JP Morgan initiated its ‘Neutral’ rating for AMPS, as published in its report on July 18, 2022. Morgan Stanley also rated the stock as ‘Equal-Weight’.
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.
To gain a thorough understanding of Altus Power Inc.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. 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.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and AMPS is recording an average volume of 992.92K. On a monthly basis, the volatility of the stock is set at 6.91%, whereas on a weekly basis, it is put at 5.70%, with a loss of -0.97% over the past seven days. Furthermore, long-term investors anticipate a median target price of $12.29, showing growth from the present price of $8.15, 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?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. 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 $135.45 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 $26.11 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 $15.91 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.