Skandinaviska Enskilda Banken AB publ Raises Holdings in Altus Power, Inc. (NYSE:AMPS)

Skandinaviska Enskilda Banken AB publ increased its stake in Altus Power, Inc. (NYSE:AMPS) by 112.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,411,042 shares of the company’s stock after acquiring an additional 745,810 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.88% of Altus Power worth $5,531,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Summit Securities Group LLC bought a new stake in shares of Altus Power during the second quarter valued at approximately $39,000. Victory Capital Management Inc. purchased a new stake in shares of Altus Power during the fourth quarter valued at $72,000. Vaughan David Investments LLC IL purchased a new stake in shares of Altus Power during the second quarter valued at $55,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Altus Power during the first quarter valued at $88,000. Finally, Bailard Inc. purchased a new stake in shares of Altus Power during the second quarter valued at $114,000. Hedge funds and other institutional investors own 46.55% of the company’s stock.

Altus Power Price Performance

Shares of NYSE:AMPS opened at $3.51 on Monday. The company’s fifty day moving average price is $3.50 and its 200 day moving average price is $4.05. Altus Power, Inc. has a 12 month low of $2.80 and a 12 month high of $7.28. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $563.96 million, a P/E ratio of -70.20 and a beta of 0.96.

Altus Power (NYSE:AMPS) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.13. Altus Power had a net margin of 13.55% and a return on equity of 2.52%. The company had revenue of $52.46 million for the quarter, compared to the consensus estimate of $57.61 million. As a group, sell-side analysts predict that Altus Power, Inc. will post 0.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. UBS Group lowered their price target on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Seaport Res Ptn raised shares of Altus Power to a “strong-buy” rating in a research note on Monday, June 3rd. B. Riley raised shares of Altus Power to a “strong-buy” rating in a research note on Tuesday, June 25th. Morgan Stanley cut shares of Altus Power from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $8.00 to $4.00 in a research note on Wednesday, August 21st. Finally, Roth Mkm dropped their price target on shares of Altus Power from $5.00 to $4.50 and set a “buy” rating for the company in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Altus Power presently has an average rating of “Buy” and a consensus target price of $6.00.

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.