10,000 Shares in Altus Power, Inc. (NYSE:AMPS) Purchased by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC bought a new stake in shares of Altus Power, Inc. (NYSE:AMPS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,000 shares of the company’s stock, valued at approximately $41,000.

Other large investors also recently added to or reduced their stakes in the company. US Bancorp DE raised its position in shares of Altus Power by 11,326.2% during the fourth quarter. US Bancorp DE now owns 9,598 shares of the company’s stock valued at $39,000 after buying an additional 9,514 shares during the last quarter. Citizens Financial Group Inc. RI purchased a new position in Altus Power during the fourth quarter valued at $41,000. HighTower Advisors LLC bought a new stake in Altus Power in the 3rd quarter valued at $41,000. KLP Kapitalforvaltning AS purchased a new stake in Altus Power in the 4th quarter worth $53,000. Finally, Intech Investment Management LLC bought a new position in shares of Altus Power during the 3rd quarter valued at about $86,000. 46.55% of the stock is owned by hedge funds and other institutional investors.

Altus Power Stock Down 0.2 %

Shares of NYSE AMPS opened at $4.95 on Thursday. Altus Power, Inc. has a 1 year low of $2.71 and a 1 year high of $5.50. The firm has a 50-day simple moving average of $4.71 and a two-hundred day simple moving average of $4.05. The company has a market cap of $794.08 million, a P/E ratio of 22.50 and a beta of 0.98. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.60 and a quick ratio of 0.60.

Altus Power (NYSE:AMPS) last issued its quarterly earnings results on Monday, March 17th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The business had revenue of $44.47 million for 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%. Research analysts anticipate that Altus Power, Inc. will post 0.14 earnings per share for the current year.

Insider Transactions at Altus Power

In other Altus Power news, insider Anthony Savino sold 8,823 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total transaction of $43,320.93. Following the transaction, the insider now directly owns 4,088,231 shares in the company, valued at $20,073,214.21. This trade represents a 0.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Gregg J. Felton sold 71,161 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total value of $349,400.51. Following the completion of the sale, the chief executive officer now owns 4,023,696 shares of the company’s stock, valued at $19,756,347.36. This represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,146 shares of company stock worth $437,707. Insiders own 24.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AMPS shares. JPMorgan Chase & Co. upgraded Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research report on Thursday, February 6th. B. Riley cut Altus Power from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $6.00 to $5.00 in a report on Friday, February 7th. Roth Capital lowered shares of Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. Roth Mkm reaffirmed a “neutral” rating and set a $5.00 price target on shares of Altus Power in a research note on Friday, March 21st. Finally, Seaport Res Ptn cut shares of Altus Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $5.13.

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.