Nisa Investment Advisors LLC Grows Position in Altus Power, Inc. (NYSE:AMPS)

Nisa Investment Advisors LLC increased its position in shares of Altus Power, Inc. (NYSE:AMPS) by 41,406.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 26,564 shares of the company’s stock after buying an additional 26,500 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Altus Power were worth $181,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Ensign Peak Advisors Inc acquired a new stake in Altus Power during the 3rd quarter worth approximately $26,000. Advisors Asset Management Inc. acquired a new stake in Altus Power during the 4th quarter worth approximately $37,000. JPMorgan Chase & Co. acquired a new stake in Altus Power during the 1st quarter worth approximately $39,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Altus Power during the 3rd quarter worth approximately $41,000. Finally, Point72 Middle East FZE acquired a new stake in Altus Power during the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 46.55% of the company’s stock.

Altus Power Stock Down 2.3 %

AMPS opened at $3.77 on Friday. 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 business has a 50 day simple moving average of $5.55 and a 200-day simple moving average of $5.56. The stock has a market capitalization of $599.73 million, a P/E ratio of -53.85 and a beta of 0.88. Altus Power, Inc. has a 12 month low of $3.66 and a 12 month high of $7.28.

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

Analyst Ratings Changes

AMPS has been the subject of a number of recent research reports. Roth Mkm decreased their price objective on Altus Power from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, March 15th. Morgan Stanley reaffirmed an “overweight” rating and set a $9.00 price objective on shares of Altus Power in a research report on Thursday, April 11th. Maxim Group began coverage on Altus Power in a report on Wednesday, April 10th. They issued a “buy” rating and a $7.00 price target for the company. Finally, B. Riley raised their price target on Altus Power from $8.00 to $10.00 and gave the company a “buy” rating in a report on Monday, February 5th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $8.63.

Insider Activity at Altus Power

In related news, insider Anthony Savino sold 34,725 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $7.02, for a total value of $243,769.50. Following the completion of the transaction, the insider now directly owns 3,907,536 shares of the company’s stock, valued at approximately $27,430,902.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Lars Norell sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $5.58, for a total value 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony Savino sold 34,725 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $7.02, for a total value of $243,769.50. Following the transaction, the insider now directly owns 3,907,536 shares of the company’s stock, valued at approximately $27,430,902.72. The disclosure for this sale can be found here. Insiders sold 83,673 shares of company stock valued at $530,948 in the last ninety days. Corporate insiders own 31.55% of the company’s stock.

Altus Power Company Profile

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.