Iridian Asset Management LLC CT Purchases New Position in Altus Power, Inc. (NYSE:AMPS)

Iridian Asset Management LLC CT purchased a new stake in Altus Power, Inc. (NYSE:AMPS) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,653 shares of the company’s stock, valued at approximately $40,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. abrdn plc grew its stake in Altus Power by 8.7% in the 3rd quarter. abrdn plc now owns 1,444,400 shares of the company’s stock valued at $4,593,000 after buying an additional 115,300 shares during the last quarter. SG Americas Securities LLC grew its stake in Altus Power by 135.9% in the 3rd quarter. SG Americas Securities LLC now owns 30,146 shares of the company’s stock valued at $96,000 after buying an additional 17,368 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Altus Power by 14.8% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 297,713 shares of the company’s stock valued at $1,167,000 after purchasing an additional 38,272 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in Altus Power in the 2nd quarter valued at about $68,000. Finally, Long Focus Capital Management LLC boosted its holdings in Altus Power by 427.6% in the 2nd quarter. Long Focus Capital Management LLC now owns 549,081 shares of the company’s stock valued at $2,152,000 after purchasing an additional 445,000 shares during the period. Institutional investors and hedge funds own 46.55% of the company’s stock.

Altus Power Price Performance

Shares of NYSE:AMPS opened at $3.60 on Thursday. The company has a market cap of $578.03 million, a price-to-earnings ratio of 25.68 and a beta of 0.96. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a 50 day simple moving average of $3.24 and a 200 day simple moving average of $3.72. Altus Power, Inc. has a one year low of $2.71 and a one year high of $7.28.

Altus Power (NYSE:AMPS) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.03 by $0.13. The business had revenue of $52.46 million during the quarter, compared to the consensus estimate of $57.61 million. Altus Power had a net margin of 13.55% and a return on equity of 2.52%. Research analysts predict that Altus Power, Inc. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AMPS has been the subject of a number of recent research reports. Roth Mkm reissued a “buy” rating and issued a $4.50 price objective on shares of Altus Power in a report on Wednesday, October 16th. Maxim Group cut their price objective on shares of Altus Power from $5.50 to $4.50 and set a “buy” rating for the company in a report on Monday, August 12th. UBS Group cut their price objective on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a report on Friday, August 9th. Citigroup cut their price objective on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Finally, Morgan Stanley downgraded shares of Altus Power from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $8.00 to $4.00 in a report on Wednesday, August 21st. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Altus Power has an average rating of “Buy” and an average price target of $5.94.

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.