BNP Paribas Financial Markets Acquires New Stake in Altus Power, Inc. (NYSE:AMPS)

BNP Paribas Financial Markets acquired a new stake in Altus Power, Inc. (NYSE:AMPS) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 11,984 shares of the company’s stock, valued at approximately $49,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMPS. US Bancorp DE raised its stake in shares of Altus Power by 11,326.2% during the 4th quarter. US Bancorp DE now owns 9,598 shares of the company’s stock worth $39,000 after buying an additional 9,514 shares during the last quarter. Citizens Financial Group Inc. RI acquired a new position in shares of Altus Power during the 4th quarter worth $41,000. SevenBridge Financial Group LLC acquired a new position in shares of Altus Power during the 4th quarter worth $41,000. One68 Global Capital LLC acquired a new position in shares of Altus Power during the 4th quarter worth $41,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Altus Power during the 4th quarter worth $53,000. 46.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Altus Power

In related news, insider Anthony Savino sold 29,748 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $4.96, for a total transaction of $147,550.08. Following the completion of the transaction, the insider now owns 4,030,459 shares of the company’s stock, valued at $19,991,076.64. This trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gregg J. Felton sold 87,048 shares of the firm’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $4.96, for a total value of $431,758.08. Following the transaction, the chief executive officer now directly owns 3,852,712 shares of the company’s stock, valued at $19,109,451.52. This represents a 2.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 132,276 shares of company stock valued at $656,089 over the last 90 days. 24.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AMPS has been the subject of several research reports. Roth Capital downgraded Altus Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. Roth Mkm reaffirmed a “neutral” rating and set a $5.00 price target on shares of Altus Power in a research note on Friday, March 21st. B. Riley downgraded shares of Altus Power from a “buy” rating to a “neutral” rating and cut their target price for the company from $6.00 to $5.00 in a research note on Friday, February 7th. JPMorgan Chase & Co. raised shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a research note on Thursday, February 6th. Finally, UBS Group downgraded shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 target price for the company. in a research note on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Altus Power currently has an average rating of “Hold” and a consensus price target of $4.86.

Altus Power Price Performance

Shares of NYSE AMPS opened at $5.00 on Wednesday. Altus Power, Inc. has a 1-year low of $2.71 and a 1-year high of $5.00. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.60 and a quick ratio of 0.60. The business’s fifty day moving average price is $4.99 and its two-hundred day moving average price is $4.56. The firm has a market capitalization of $801.30 million, a PE ratio of 22.70 and a beta of 0.94.

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

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