Magnus Financial Group LLC Acquires New Shares in Altus Power, Inc. (NYSE:AMPS)

Magnus Financial Group LLC bought a new position in shares of Altus Power, Inc. (NYSE:AMPS) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 81,835 shares of the company’s stock, valued at approximately $333,000.

A number of other institutional investors have also added to or reduced their stakes in AMPS. Ballentine Partners LLC purchased a new stake in shares of Altus Power in the 4th quarter worth approximately $112,000. Avanza Fonder AB bought a new position in Altus Power in the fourth quarter worth approximately $213,000. Franklin Resources Inc. lifted its holdings in Altus Power by 47.2% during the third quarter. Franklin Resources Inc. now owns 51,035 shares of the company’s stock worth $161,000 after buying an additional 16,370 shares during the period. Barclays PLC boosted its position in Altus Power by 312.8% during the 3rd quarter. Barclays PLC now owns 115,987 shares of the company’s stock valued at $369,000 after acquiring an additional 87,886 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Altus Power in the 3rd quarter valued at $425,000. Hedge funds and other institutional investors own 46.55% of the company’s stock.

Altus Power Stock Performance

AMPS opened at $3.33 on Thursday. The company has a market cap of $534.65 million, a P/E ratio of 15.11 and a beta of 1.05. 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 firm’s 50-day moving average price is $4.00 and its 200-day moving average price is $3.65. Altus Power, Inc. has a 52-week low of $2.71 and a 52-week high of $7.28.

Analyst Ratings Changes

AMPS has been the subject of a number of analyst reports. Roth Mkm restated a “buy” rating and set a $4.50 price objective on shares of Altus Power in a research note on Wednesday, October 16th. Citigroup lowered their price target on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lowered shares of Altus Power from a “neutral” rating to an “underweight” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $5.21.

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.