Altus Power, Inc. (NYSE:AMPS) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. grew its position in Altus Power, Inc. (NYSE:AMPS) by 12.8% during the third quarter, Holdings Channel reports. The firm owned 3,871,155 shares of the company’s stock after acquiring an additional 438,845 shares during the period. Vanguard Group Inc.’s holdings in Altus Power were worth $20,324,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ensign Peak Advisors Inc acquired a new stake in Altus Power during the third quarter worth about $26,000. JPMorgan Chase & Co. acquired a new stake in Altus Power during the first quarter worth about $39,000. Advisors Asset Management Inc. acquired a new stake in Altus Power during the fourth quarter worth about $37,000. Royal Bank of Canada acquired a new stake in Altus Power during the first quarter worth about $46,000. Finally, Point72 Middle East FZE acquired a new stake in Altus Power in the fourth quarter valued at approximately $41,000. 46.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on AMPS. Maxim Group began coverage on Altus Power in a report on Wednesday, April 10th. They issued a “buy” rating and a $7.00 price objective on the stock. Roth Mkm dropped their price objective on Altus Power from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, March 15th. B. Riley raised their price objective on Altus Power from $8.00 to $10.00 and gave the company a “buy” rating in a report on Monday, February 5th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $9.00 price objective on shares of Altus Power in a report on Thursday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $8.63.

Altus Power Stock Performance

NYSE AMPS opened at $4.21 on Monday. Altus Power, Inc. has a 1-year low of $4.08 and a 1-year high of $7.28. The company has a market cap of $669.73 million, a PE ratio of -60.13 and a beta of 0.88. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.15 and a quick ratio of 2.15. The stock’s 50 day simple moving average is $5.75 and its 200-day simple moving average is $5.61.

Altus Power (NYSE:AMPS) last posted its earnings results on Thursday, March 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The business had revenue of $34.19 million for the quarter, compared to analyst estimates of $42.85 million. Altus Power had a negative return on equity of 0.30% and a negative net margin of 6.03%. As a group, equities research analysts anticipate that Altus Power, Inc. will post -0.1 EPS for the current fiscal year.

Insider Activity

In other news, CFO Dustin Weber sold 4,350 shares of Altus Power stock in a transaction on Friday, February 16th. The stock was sold at an average price of $7.15, for a total value of $31,102.50. Following the completion of the sale, the chief financial officer now directly owns 1,884,926 shares of the company’s stock, valued at $13,477,220.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Lars Norell sold 40,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $5.58, for a total transaction of $223,200.00. Following the completion of the transaction, the chief executive officer now directly owns 21,654,907 shares of the company’s stock, valued at approximately $120,834,381.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dustin Weber sold 4,350 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $7.15, for a total value of $31,102.50. Following the transaction, the chief financial officer now directly owns 1,884,926 shares of the company’s stock, valued at $13,477,220.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,673 shares of company stock valued at $530,948. 31.55% of the stock is currently owned by corporate insiders.

About Altus Power

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