UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 83,911 Shares of Altus Power, Inc. (NYSE:AMPS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Altus Power, Inc. (NYSE:AMPS) by 27.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 385,699 shares of the company’s stock after purchasing an additional 83,911 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.24% of Altus Power worth $1,570,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the company. US Bancorp DE raised its position in Altus Power by 11,326.2% in the fourth quarter. US Bancorp DE now owns 9,598 shares of the company’s stock worth $39,000 after purchasing an additional 9,514 shares in the last quarter. SevenBridge Financial Group LLC bought a new position in shares of Altus Power in the fourth quarter worth about $41,000. One68 Global Capital LLC acquired a new position in Altus Power during the 4th quarter worth $41,000. Citizens Financial Group Inc. RI bought a new position in Altus Power in the fourth quarter valued at about $41,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of Altus Power during the 4th quarter worth approximately $44,000. Institutional investors own 46.55% of the company’s stock.

Analyst Upgrades and Downgrades

AMPS has been the subject of a number of recent analyst reports. Roth Capital downgraded Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. UBS Group cut Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 target price for the company. in a report on Monday, February 10th. Finally, Roth Mkm reiterated a “neutral” rating and issued a $5.00 price objective on shares of Altus Power in a report on Friday, March 21st. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Altus Power currently has a consensus rating of “Hold” and an average price target of $4.86.

Insider Activity

In related news, CFO Dustin Weber sold 15,480 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $4.96, for a total transaction of $76,780.80. Following the sale, the chief financial officer now owns 1,966,208 shares of the company’s stock, valued at $9,752,391.68. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gregg J. Felton sold 87,048 shares of Altus Power stock in a transaction on Monday, April 7th. The shares were sold at an average price of $4.96, for a total value of $431,758.08. Following the completion of the transaction, the chief executive officer now directly owns 3,852,712 shares of the company’s stock, valued at $19,109,451.52. This represents a 2.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 132,276 shares of company stock valued at $656,089. 24.30% of the stock is owned by company insiders.

Altus Power Trading Down 0.1%

Altus Power stock opened at $5.00 on Monday. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60. Altus Power, Inc. has a 52 week low of $2.71 and a 52 week high of $5.00. The stock has a 50-day simple moving average of $4.99 and a 200 day simple moving average of $4.59. The stock has a market capitalization of $801.30 million, a P/E ratio of 22.70 and a beta of 0.94.

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 company 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 expect that Altus Power, Inc. will post 0.14 earnings per share for the current year.

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.