SG Americas Securities LLC Takes Position in Altus Power, Inc. (NYSE:AMPS)

SG Americas Securities LLC bought a new position in shares of Altus Power, Inc. (NYSE:AMPSGet Rating) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 11,613 shares of the company’s stock, valued at approximately $73,000.

Other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. acquired a new stake in Altus Power during the 1st quarter worth approximately $39,000. Royal Bank of Canada acquired a new stake in Altus Power during the 1st quarter worth approximately $46,000. Strs Ohio acquired a new stake in Altus Power during the 2nd quarter worth approximately $61,000. Victory Capital Management Inc. acquired a new stake in Altus Power during the 1st quarter worth approximately $62,000. Finally, Citigroup Inc. acquired a new stake in Altus Power during the 1st quarter worth approximately $67,000. 43.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AMPS shares. JPMorgan Chase & Co. upgraded shares of Altus Power from a “neutral” rating to an “overweight” rating and set a $10.00 target price on the stock in a research report on Monday. UBS Group began coverage on shares of Altus Power in a research report on Tuesday, October 25th. They issued a “buy” rating and a $14.00 price target on the stock. Finally, Morgan Stanley boosted their price target on shares of Altus Power from $12.50 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 22nd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.75.

Altus Power Price Performance

AMPS opened at $7.12 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 9.66 and a quick ratio of 11.48. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -355.82 and a beta of 0.67. The firm’s fifty day moving average price is $10.31 and its two-hundred day moving average price is $8.65. Altus Power, Inc. has a 1 year low of $4.26 and a 1 year high of $14.72.

Altus Power (NYSE:AMPSGet Rating) last posted its quarterly earnings data on Monday, August 15th. The company reported $0.02 earnings per share (EPS) for the quarter. The firm had revenue of $24.76 million for the quarter, compared to the consensus estimate of $23.70 million. Altus Power had a negative net margin of 5.48% and a negative return on equity of 0.54%. As a group, analysts anticipate that Altus Power, Inc. will post 0.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Altus Holdings Lp Gso sold 7,000,000 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $11.01, for a total value of $77,070,000.00. Following the transaction, the insider now directly owns 21,825,125 shares of the company’s stock, valued at approximately $240,294,626.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 41.04% of the company’s stock.

Altus Power Profile

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Altus Power, Inc, a clean electrification company, originates, develops, owns, and operates roof, ground, and carport-based photovoltaic solar energy generation and storage systems. It serves commercial, industrial, public sector, and community solar customers. The company was founded in 2013 and is based in Stamford, Connecticut.

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Institutional Ownership by Quarter for Altus Power (NYSE:AMPS)

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