By otakuyassine3@gmail.com 
Pictet Asset Management Holding SA boosted its position in shares of Altus Power, Inc. (NYSE:AMPS – Free Report) by 23.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 34,656 shares of the company’s stock after acquiring an additional 6,524 shares during the period. Pictet Asset Management Holding SA’s holdings in Altus Power were worth $141,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its stake in shares of Altus Power by 9.0% during the third quarter. Janus Henderson Group PLC now owns 44,792 shares of the company’s stock valued at $142,000 after acquiring an additional 3,709 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Altus Power by 19.6% in the fourth quarter. SG Americas Securities LLC now owns 36,058 shares of the company’s stock worth $147,000 after acquiring an additional 5,912 shares in the last quarter. US Bancorp DE boosted its holdings in Altus Power by 11,326.2% in the fourth quarter. US Bancorp DE now owns 9,598 shares of the company’s stock valued at $39,000 after purchasing an additional 9,514 shares during the last quarter. American Century Companies Inc. grew its stake in Altus Power by 11.4% during the 4th quarter. American Century Companies Inc. now owns 95,816 shares of the company’s stock valued at $390,000 after purchasing an additional 9,794 shares in the last quarter. Finally, Citizens Financial Group Inc. RI purchased 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.
Wall Street Analysts Forecast Growth
AMPS has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a research report on Thursday, February 6th. B. Riley downgraded shares of Altus Power from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $6.00 to $5.00 in a research report on Friday, February 7th. UBS Group lowered shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 target price on the stock. in a research note on Monday, February 10th. Roth Capital downgraded Altus Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. Finally, Roth Mkm restated a “neutral” rating and set a $5.00 price objective on shares of Altus Power in a research note on Friday, March 21st. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.13.
View Our Latest Report on Altus Power
Insider Buying and Selling at Altus Power
In other Altus Power news, CEO Gregg J. Felton sold 87,048 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 3,852,712 shares in the company, valued at approximately $19,109,451.52. This trade represents a 2.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Dustin Weber sold 15,480 shares of the business’s 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 owns 1,966,208 shares of the company’s stock, valued at approximately $9,752,391.68. This represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 221,422 shares of company stock worth $1,093,796. 24.30% of the stock is owned by insiders.
Altus Power Price Performance
AMPS opened at $5.00 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10. The company’s 50-day moving average price is $4.91 and its 200 day moving average price is $4.15. Altus Power, Inc. has a fifty-two week low of $2.71 and a fifty-two week high of $5.50. The firm has a market cap of $801.30 million, a price-to-earnings ratio of 22.70 and a beta of 0.94.
Altus Power (NYSE:AMPS – Get Free Report) last announced its quarterly earnings results on Monday, March 17th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The company had revenue of $44.47 million during the quarter, compared to the consensus estimate of $46.64 million. Altus Power had a return on equity of 4.79% and a net margin of 19.18%. As a group, sell-side 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.
See Also
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