Shares of solar facilities provider Altus Power (NYSE:AMPS) are slumping in the pre-market session today after it announced a secondary public offering.
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A shareholder associated with Blackstone is offering 7 million Class A Altus shares and underwriters will have an option to buy up to 1.05 million additional Class A shares.
Further, Altus will not receive any proceeds from the transaction by Blackstone.
Is AMPS a Good Stock to Buy?
While AMPS stock has risen by 7.3% over the past month, analysts see a further 9.51% potential upside in the stock based on a consensus rating of Moderate Buy alongside an average price target of $12.50.
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