Handelsbanken Fonder AB Buys Shares of 775,763 Altus Power, Inc. (NYSE:AMPS)

Handelsbanken Fonder AB bought a new stake in shares of Altus Power, Inc. (NYSE:AMPS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 775,763 shares of the company’s stock, valued at approximately $5,298,000. Handelsbanken Fonder AB owned 0.48% of Altus Power at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Nisa Investment Advisors LLC boosted its holdings in shares of Altus Power by 41,406.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 26,564 shares of the company’s stock valued at $181,000 after purchasing an additional 26,500 shares during the period. DekaBank Deutsche Girozentrale bought a new position in Altus Power in the fourth quarter worth approximately $3,671,000. ANTIPODES PARTNERS Ltd raised its stake in Altus Power by 18.0% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 30,082 shares of the company’s stock worth $205,000 after buying an additional 4,579 shares in the last quarter. SG Americas Securities LLC raised its stake in Altus Power by 32.3% in the fourth quarter. SG Americas Securities LLC now owns 35,309 shares of the company’s stock worth $241,000 after buying an additional 8,617 shares in the last quarter. Finally, Bouvel Investment Partners LLC raised its stake in Altus Power by 1.5% in the fourth quarter. Bouvel Investment Partners LLC now owns 297,378 shares of the company’s stock worth $2,031,000 after buying an additional 4,495 shares in the last quarter. Hedge funds and other institutional investors own 46.55% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on AMPS. B. Riley reduced their price objective on shares of Altus Power from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Monday. Roth Mkm reduced their price target on Altus Power from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, March 15th. Maxim Group began coverage on Altus Power in a research report on Wednesday, April 10th. They set a “buy” rating and a $7.00 price target on the stock. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $9.00 price target on shares of Altus Power in a research report on Thursday, April 11th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $8.25.

Altus Power Price Performance

NYSE AMPS opened at $3.60 on Friday. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.15 and a quick ratio of 2.15. The stock’s fifty day moving average price is $5.28 and its 200 day moving average price is $5.54. Altus Power, Inc. has a 1 year low of $3.40 and a 1 year high of $7.28. The company has a market cap of $572.69 million, a price-to-earnings ratio of -51.42 and a beta of 0.88.

Altus Power (NYSE:AMPS) last released its earnings results on Thursday, March 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Altus Power had a negative net margin of 6.03% and a negative return on equity of 0.30%. The firm had revenue of $34.19 million during the quarter, compared to analyst estimates of $42.85 million. As a group, equities research analysts forecast that Altus Power, Inc. will post -0.11 earnings per share for the current year.

Insiders Place Their Bets

In other Altus Power news, insider Anthony Savino sold 34,725 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $7.02, for a total transaction of $243,769.50. Following the sale, the insider now directly owns 3,907,536 shares of the company’s stock, valued at approximately $27,430,902.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Altus Power news, insider Anthony Savino sold 34,725 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $7.02, for a total transaction of $243,769.50. Following the sale, the insider now directly owns 3,907,536 shares of the company’s stock, valued at approximately $27,430,902.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lars Norell sold 40,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $5.58, for a total value of $223,200.00. Following the sale, the chief executive officer now owns 21,654,907 shares in the company, valued at $120,834,381.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,673 shares of company stock valued at $530,948. Company insiders own 24.30% of the company’s stock.

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.