Altus Power, Inc. (NYSE:AMPS) CEO Gregg J. Felton Buys 25,000 Shares

Altus Power, Inc. (NYSE:AMPS – Get Rating) CEO Gregg J. Felton purchased 25,000 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The stock was bought at an average price of $4.41 per share, with a total value of $110,250.00. Following the transaction, the chief executive officer now directly owns 11,859,603 shares in the company, valued at $52,300,849.23. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Altus Power Stock Up 6.6 %

AMPS opened at $4.71 on Tuesday. Altus Power, Inc. has a fifty-two week low of $4.08 and a fifty-two week high of $14.72. The business has a 50-day moving average of $4.97 and a 200-day moving average of $6.42. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.97 and a quick ratio of 3.15. The company has a market capitalization of $753.60 million, a PE ratio of -235.38 and a beta of 0.58.

Altus Power (NYSE:AMPS – Get Rating) last issued its quarterly earnings data on Thursday, March 30th. The company reported ($0.03) earnings per share for the quarter. Altus Power had a net margin of 0.57% and a negative return on equity of 0.86%. The company had revenue of $26.76 million during the quarter, compared to the consensus estimate of $28.03 million. Equities research analysts forecast that Altus Power, Inc. will post 0.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Citigroup decreased their price objective on Altus Power from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Tuesday, April 4th. Morgan Stanley decreased their price objective on Altus Power from $12.00 to $9.00 and set an “overweight” rating for the company in a research report on Monday, April 3rd. Evercore ISI decreased their price objective on Altus Power from $12.00 to $10.00 in a research report on Tuesday, May 16th. Finally, B. Riley restated a “buy” rating and set a $14.00 price objective on shares of Altus Power in a research report on Friday, March 31st. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Altus Power presently has an average rating of “Buy” and an average target price of $10.67.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AMPS. BlackRock Inc. raised its stake in shares of Altus Power by 88.2% in the 1st quarter. BlackRock Inc. now owns 5,447,065 shares of the company’s stock valued at $29,850,000 after acquiring an additional 2,553,284 shares in the last quarter. Vanguard Group Inc. bought a new position in shares of Altus Power in the 1st quarter valued at approximately $12,973,000. State Street Corp raised its stake in shares of Altus Power by 1,231.0% in the 2nd quarter. State Street Corp now owns 1,699,411 shares of the company’s stock valued at $10,723,000 after acquiring an additional 1,571,727 shares in the last quarter. First Trust Advisors LP acquired a new stake in Altus Power in the 3rd quarter valued at approximately $11,025,000. Finally, Point72 Asset Management L.P. grew its holdings in Altus Power by 1,188.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 752,500 shares of the company’s stock valued at $8,285,000 after buying an additional 694,100 shares during the last quarter. 43.73% of the stock is owned by institutional investors.

Altus Power Company Profile

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Altus Power, Inc, a clean electrification company, originates, develops, owns, and operates roof, ground, and carport-based photovoltaic solar energy generation and storage systems. The company serves commercial, industrial, public sector, and community solar customers. Altus Power, Inc was founded in 2013 and is based in Stamford, Connecticut.