Insider Selling: Altus Power, Inc. (NYSE:AMPS) CEO Sells 71,161 Shares of Stock

Altus Power, Inc. (NYSE:AMPS) 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 sale, the chief executive officer now owns 4,023,696 shares of the company’s stock, valued at approximately $19,756,347.36. This represents a 1.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Altus Power Stock Performance

AMPS stock traded down $0.01 during midday trading on Monday, reaching $4.90. The stock had a trading volume of 1,596,810 shares, compared to its average volume of 3,882,152. The stock has a market cap of $787.12 million, a PE ratio of 22.25 and a beta of 1.05. 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 firm has a fifty day simple moving average of $4.20 and a two-hundred day simple moving average of $3.70. Altus Power, Inc. has a 52-week low of $2.71 and a 52-week high of $7.01.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMPS. B. Riley downgraded Altus Power from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $6.00 to $5.00 in a research report on Friday, February 7th. Seaport Res Ptn downgraded Altus Power from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. UBS Group downgraded Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. raised Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a research report on Thursday, February 6th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $5.06.

Hedge Funds Weigh In On Altus Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its stake in Altus Power by 9.0% in the 3rd quarter. Janus Henderson Group PLC now owns 44,792 shares of the company’s stock worth $142,000 after acquiring an additional 3,709 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Altus Power by 8.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 54,512 shares of the company’s stock worth $222,000 after acquiring an additional 4,395 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Altus Power by 11.5% during the 4th quarter. ProShare Advisors LLC now owns 49,869 shares of the company’s stock valued at $203,000 after buying an additional 5,143 shares during the last quarter. HTG Investment Advisors Inc. raised its stake in shares of Altus Power by 8.6% during the 3rd quarter. HTG Investment Advisors Inc. now owns 65,148 shares of the company’s stock valued at $207,000 after buying an additional 5,148 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Altus Power by 19.6% during the 4th quarter. SG Americas Securities LLC now owns 36,058 shares of the company’s stock valued at $147,000 after buying an additional 5,912 shares during the last quarter. Hedge funds and other institutional investors own 46.55% of the company’s stock.

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.