Wells Fargo & Company MN Has $471,000 Holdings in Altus Power, Inc. (NYSE:AMPS)

Wells Fargo & Company MN grew its position in Altus Power, Inc. (NYSE:AMPS) by 9.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,838 shares of the company’s stock after buying an additional 9,957 shares during the quarter. Wells Fargo & Company MN owned approximately 0.07% of Altus Power worth $471,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. SevenBridge Financial Group LLC purchased a new position in shares of Altus Power during the fourth quarter valued at $41,000. Geode Capital Management LLC boosted its position in Altus Power by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,564,740 shares of the company’s stock worth $6,370,000 after acquiring an additional 10,450 shares during the period. Pictet Asset Management Holding SA grew its stake in Altus Power by 23.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 34,656 shares of the company’s stock valued at $141,000 after acquiring an additional 6,524 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Altus Power in the 4th quarter valued at about $53,000. Finally, American Century Companies Inc. lifted its position in shares of Altus Power by 11.4% in the fourth quarter. American Century Companies Inc. now owns 95,816 shares of the company’s stock worth $390,000 after purchasing an additional 9,794 shares in the last quarter. 46.55% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Dustin Weber sold 15,480 shares of Altus Power stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $4.96, for a total value of $76,780.80. Following the transaction, the chief financial officer now directly owns 1,966,208 shares of the company’s stock, valued at $9,752,391.68. The trade was a 0.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony Savino sold 8,823 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total transaction of $43,320.93. Following the completion of the transaction, the insider now owns 4,088,231 shares in the company, valued at approximately $20,073,214.21. The trade was a 0.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 221,422 shares of company stock worth $1,093,796 in the last 90 days. Company insiders own 24.30% of the company’s stock.

Altus Power Stock Performance

Shares of NYSE AMPS opened at $5.00 on Friday. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a 50 day moving average price of $4.96 and a 200 day moving average price of $4.34. The stock has a market capitalization of $801.30 million, a PE ratio of 22.70 and a beta of 0.94. Altus Power, Inc. has a 52 week low of $2.71 and a 52 week high of $5.50.

Altus Power (NYSE:AMPS) last announced its quarterly earnings results on Monday, March 17th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The firm had revenue of $44.47 million during the quarter, compared to analyst estimates of $46.64 million. Altus Power had a net margin of 19.18% and a return on equity of 4.79%. Analysts predict that Altus Power, Inc. will post 0.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on AMPS. B. Riley downgraded Altus Power from a “buy” rating to a “neutral” rating and lowered their target price for the company from $6.00 to $5.00 in a research note on Friday, February 7th. Roth Mkm reaffirmed a “neutral” rating and set a $5.00 price objective on shares of Altus Power in a research report on Friday, March 21st. Seaport Res Ptn downgraded shares of Altus Power from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. UBS Group lowered shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. raised shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a research note on Thursday, February 6th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $5.13.

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.