Altus Power Inc. [AMPS] is 28.99% higher this YTD. Is it still time to buy?

Altus Power Inc. [NYSE: AMPS] gained 0.96% on the last trading session, reaching $8.41 price per share at the time. The company report on January 5, 2023 that Altus Power, Inc. Announces New Financing Agreement To Optimize Recent Acquisition from D.E. Shaw Renewable Investments.

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New agreement refinances and upsizes assumed DESRI facility up to $141.3 million at an effective fixed rate of 4.885% for five years.

Altus Power, Inc. (“Altus Power” or the “Company”) (NYSE: AMPS), the premier independent developer, owner and operator of commercial-scale solar facilities, announced that on December 23, 2022, it refinanced and upsized the term loan facility assumed with the recently executed D.E. Shaw Renewable Investments (DESRI) portfolio. The principal amount of the facility was upsized to $141.3 million consisting of a term loan facility for approximately $125.7 million and letters of credit for approximately $15.6 million. The financing agreement includes an interest rate swap which provides for an effective fixed rate of 4.885% for a term of five years.

Altus Power Inc. represents 154.46 million in outstanding shares, while the company has a total market value of $1.33 billion with the latest information. AMPS stock price has been found in the range of $8.16 to $8.56.

If compared to the average trading volume of 1.01M shares, AMPS reached a trading volume of 716467 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Altus Power Inc. [AMPS]:

Morgan Stanley have made an estimate for Altus Power Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 10, 2023. While these analysts kept the previous recommendation, Evercore ISI raised their target price to Outperform. The new note on the price target was released on January 04, 2023, representing the official price target for Altus Power Inc. stock. Previously, the target price had yet another raise to $10, while JP Morgan analysts kept a Overweight rating on AMPS stock.

The Average True Range (ATR) for Altus Power Inc. is set at 0.52, with the Price to Sales ratio for AMPS stock in the period of the last 12 months amounting to 13.89. The Price to Book ratio for the last quarter was 3.81, with the Price to Cash per share for the same quarter was set at 1.84.

Trading performance analysis for AMPS stock

Altus Power Inc. [AMPS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 20.83. With this latest performance, AMPS shares gained by 24.22% in over the last four-week period, additionally plugging by 30.39% over the last 6 months – not to mention a drop of -14.27% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AMPS stock in for the last two-week period is set at 68.02, with the RSI for the last a single of trading hit 77.14, and the three-weeks RSI is set at 60.73 for Altus Power Inc. [AMPS]. The present Moving Average for the last 50 days of trading for this stock 7.13, while it was recorded at 7.99 for the last single week of trading, and 8.10 for the last 200 days.

Altus Power Inc. [AMPS]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Altus Power Inc. [AMPS] shares currently have an operating margin of +25.33 and a Gross Margin at +48.89. Altus Power Inc.’s Net Margin is presently recorded at +8.10.

Return on Equity for this stock inclined to 1.67, with Return on Assets sitting at 0.74.

Altus Power Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.70 and a Current Ratio set at 9.70.

An analysis of insider ownership at Altus Power Inc. [AMPS]

There are presently around $542 million, or 41.40% of AMPS stock, in the hands of institutional investors. The top three institutional holders of AMPS stocks are: BLACKSTONE INC. with ownership of 21,825,125, which is approximately -24.284% of the company’s market cap and around 58.04% of the total institutional ownership; VALUEACT HOLDINGS, L.P., holding 4,000,020 shares of the stock with an approximate value of $33.64 million in AMPS stocks shares; and INVESCO LTD., currently with $31.85 million in AMPS stock with ownership of nearly 64.981% of the company’s market capitalization.

Positions in Altus Power Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 91 institutional holders increased their position in Altus Power Inc. [NYSE:AMPS] by around 14,730,652 shares. Additionally, 47 investors decreased positions by around 10,436,572 shares, while 12 investors held positions by with 39,326,745 shares. The mentioned changes placed institutional holdings at 64,493,969 shares, according to the latest SEC report filing. AMPS stock had 59 new institutional investments in for a total of 9,888,313 shares, while 18 institutional investors sold positions of 1,486,621 shares during the same period.


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