5 Cheap Solar Stocks to Buy

3. Altus Power, Inc. (NYSE:AMPS)

Number of Hedge Fund Holders: 33

Altus Power, Inc. (NYSE:AMPS) is an American renewable energy products manufacturing company that includes photovoltaic solar energy generation and storage systems. The company experienced a recent sell-off in the market and has lost 38.48% of its stock price year-to-date. Altus Power, Inc. (NYSE:AMPS) has a TTM PE ratio of 12.42.

On November 14, JPMorgan analyst Mark Strouse upgraded Altus Power, Inc. (NYSE:AMPS)’s stock to Outperform from Neutral. However, the analyst’s price target remained unchanged at $10. In the last three months, the company has been covered by 5 analysts and 4 of them have a Buy or Outperform rating on the stock. Their average price target of $11.80 represents an approximately 80% upside for Altus Power, Inc. (NYSE:AMPS) at the time of writing on December 19.

In the third quarter, Altus Power, Inc. (NYSE:AMPS)’s hedge fund sentiment shot up substantially with 33 hedge funds taking a piece of the company’s total shares. In the previous quarter, 21 hedge funds had a stake in the company.