SevenBridge Financial Group LLC Buys Shares of 10,000 Altus Power, Inc. (NYSE:AMPS)

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

A number of other institutional investors and hedge funds have also recently modified their holdings of AMPS. State Street Corp boosted its holdings in Altus Power by 0.6% in the third quarter. State Street Corp now owns 3,682,864 shares of the company’s stock worth $11,712,000 after acquiring an additional 21,312 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Altus Power by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,564,740 shares of the company’s stock valued at $6,370,000 after purchasing an additional 10,450 shares during the last quarter. abrdn plc boosted its stake in Altus Power by 7.3% in the 4th quarter. abrdn plc now owns 1,550,200 shares of the company’s stock worth $6,418,000 after purchasing an additional 105,800 shares in the last quarter. Bank of New York Mellon Corp grew its position in Altus Power by 48.1% during the 4th quarter. Bank of New York Mellon Corp now owns 267,220 shares of the company’s stock worth $1,088,000 after purchasing an additional 86,797 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Altus Power during the 3rd quarter valued at approximately $425,000. Hedge funds and other institutional investors own 46.55% of the company’s stock.

Altus Power Stock Down 0.2 %

Shares of AMPS stock opened at $4.95 on Thursday. Altus Power, Inc. has a twelve month low of $2.71 and a twelve month high of $5.50. The stock has a market cap of $794.08 million, a P/E ratio of 22.50 and a beta of 0.98. The stock has a 50 day moving average of $4.71 and a 200 day moving average of $4.05. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.10.

Altus Power (NYSE:AMPS) last posted its 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 firm 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%. As a group, sell-side analysts expect that Altus Power, Inc. will post 0.14 EPS for the current year.

Insider Activity

In related news, CEO Gregg J. Felton sold 71,161 shares of Altus Power stock in a transaction dated 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 directly owns 4,023,696 shares in the company, valued at approximately $19,756,347.36. The trade was a 1.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Anthony Savino sold 8,823 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total value of $43,320.93. Following the sale, the insider now owns 4,088,231 shares of the company’s stock, valued at approximately $20,073,214.21. This trade represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,146 shares of company stock worth $437,707 in the last quarter. Corporate insiders own 24.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AMPS. Roth Mkm reissued a “neutral” rating and set a $5.00 price objective on shares of Altus Power in a report on Friday, March 21st. 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 note on Monday, February 10th. Roth Capital cut Altus Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. B. Riley downgraded Altus Power from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $6.00 to $5.00 in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. upgraded shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a report on Thursday, February 6th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Altus Power presently has a consensus rating of “Hold” and a consensus target price of $5.13.

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.