Wexford Capital LP Has $3.04 Million Stake in Altus Power, Inc. (NYSE:AMPS)

Wexford Capital LP raised its holdings in Altus Power, Inc. (NYSE:AMPS) by 31.0% in the first quarter, Holdings Channel reports. The fund owned 553,867 shares of the company’s stock after acquiring an additional 131,099 shares during the period. Wexford Capital LP’s holdings in Altus Power were worth $3,035,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Morgan Stanley grew its stake in Altus Power by 1.0% in the fourth quarter. Morgan Stanley now owns 147,479 shares of the company’s stock valued at $962,000 after acquiring an additional 1,525 shares during the period. Credit Suisse AG grew its stake in Altus Power by 2.5% in the third quarter. Credit Suisse AG now owns 62,578 shares of the company’s stock valued at $689,000 after acquiring an additional 1,545 shares during the period. Ensign Peak Advisors Inc acquired a new position in shares of Altus Power during the third quarter worth about $26,000. Kepos Capital LP boosted its position in shares of Altus Power by 43.5% during the fourth quarter. Kepos Capital LP now owns 7,944 shares of the company’s stock worth $52,000 after buying an additional 2,407 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Altus Power by 14.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 20,095 shares of the company’s stock worth $131,000 after buying an additional 2,596 shares during the period. 45.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Altus Power from $9.00 to $10.00 in a research report on Wednesday, July 19th. B. Riley reduced their price objective on Altus Power from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, June 30th. Evercore ISI reduced their price objective on Altus Power from $12.00 to $10.00 in a research report on Tuesday, May 16th. Finally, Morgan Stanley upped their price objective on Altus Power from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 6th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Altus Power has a consensus rating of “Buy” and an average target price of $10.67.

Altus Power Stock Down 0.5 %

NYSE AMPS traded down $0.03 during trading hours on Monday, hitting $6.30. 253,092 shares of the company traded hands, compared to its average volume of 1,199,416. The business’s 50-day moving average is $6.24 and its 200-day moving average is $5.64. Altus Power, Inc. has a twelve month low of $4.08 and a twelve month high of $14.72. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -45.21 and a beta of 0.75.

Altus Power (NYSE:AMPS) last issued its quarterly earnings results on Monday, August 14th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. Altus Power had a positive return on equity of 0.10% and a negative net margin of 12.51%. The firm had revenue of $46.51 million during the quarter, compared to analysts’ expectations of $43.49 million. Sell-side analysts anticipate that Altus Power, Inc. will post -0.02 earnings per share for the current year.

Insider Buying and Selling at Altus Power

In other Altus Power news, CFO Dustin Weber sold 225,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $5.46, for a total value of $1,228,500.00. Following the sale, the chief financial officer now owns 1,960,276 shares in the company, valued at $10,703,106.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Altus Power news, CFO Dustin Weber sold 225,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $5.46, for a total value of $1,228,500.00. Following the sale, the chief financial officer now owns 1,960,276 shares in the company, valued at $10,703,106.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Altus Holdings Lp Gso acquired 45,000 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was acquired at an average price of $5.47 per share, for a total transaction of $246,150.00. Following the purchase, the insider now directly owns 21,116,125 shares of the company’s stock, valued at $115,505,203.75. The disclosure for this purchase can be found here. Insiders have sold 300,000 shares of company stock worth $1,671,000 over the last 90 days. Company insiders own 31.55% of the company’s stock.

Altus Power 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. The company was founded in 2013 and is headquartered in Stamford, Connecticut.