Alliancebernstein L.P. Trims Holdings in Altus Power, Inc. (NYSE:AMPS)

Alliancebernstein L.P. reduced its stake in shares of Altus Power, Inc. (NYSE:AMPS) by 38.7% in the fourth quarter, Holdings Channel reports. The firm owned 154,610 shares of the company’s stock after selling 97,503 shares during the period. Alliancebernstein L.P.’s holdings in Altus Power were worth $629,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AMPS. US Bancorp DE boosted its position in Altus Power by 11,326.2% in the 4th quarter. US Bancorp DE now owns 9,598 shares of the company’s stock valued at $39,000 after buying an additional 9,514 shares during the period. Citizens Financial Group Inc. RI bought a new stake in shares of Altus Power during the fourth quarter valued at approximately $41,000. HighTower Advisors LLC purchased a new stake in shares of Altus Power in the third quarter valued at approximately $41,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Altus Power in the fourth quarter valued at approximately $53,000. Finally, Ballentine Partners LLC bought a new position in Altus Power in the fourth quarter worth approximately $112,000. 46.55% of the stock is currently owned by institutional investors.

Altus Power Stock Performance

Shares of AMPS stock opened at $5.00 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.10. The company has a market cap of $801.30 million, a PE ratio of 22.70 and a beta of 0.94. Altus Power, Inc. has a 12-month low of $2.71 and a 12-month high of $5.50. The business’s fifty day simple moving average is $4.94 and its 200-day simple moving average is $4.21.

Altus Power (NYSE:AMPS) last released its quarterly earnings results on Monday, March 17th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). Altus Power had a net margin of 19.18% and a return on equity of 4.79%. The business had revenue of $44.47 million during the quarter, compared to analysts’ expectations of $46.64 million. Analysts expect that Altus Power, Inc. will post 0.14 earnings per share for the current fiscal year.

Insider Activity at Altus Power

In related news, CFO Dustin Weber sold 9,162 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 transaction of $44,985.42. Following the completion of the sale, the chief financial officer now owns 2,002,611 shares of the company’s stock, valued at $9,832,820.01. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gregg J. Felton sold 71,161 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total value of $349,400.51. Following the completion of the sale, the chief executive officer now owns 4,023,696 shares in the company, valued at approximately $19,756,347.36. This represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 221,422 shares of company stock valued at $1,093,796 in the last three months. 24.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on AMPS. UBS Group cut Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 target price for the company. in a report on Monday, February 10th. Seaport Res Ptn cut shares of Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. raised shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research report on Thursday, February 6th. Roth Mkm reaffirmed a “neutral” rating and issued a $5.00 price target on shares of Altus Power in a research report on Friday, March 21st. Finally, Roth Capital lowered shares of Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Altus Power presently has an average rating of “Hold” and an average target price of $5.13.

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.