Intech Investment Management LLC Acquires Shares of 27,103 Altus Power, Inc. (NYSE:AMPS)

Intech Investment Management LLC bought a new position in Altus Power, Inc. (NYSE:AMPS) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 27,103 shares of the company’s stock, valued at approximately $86,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new position in Altus Power during the 2nd quarter valued at about $39,000. Iridian Asset Management LLC CT bought a new stake in shares of Altus Power during the third quarter valued at approximately $40,000. Vaughan David Investments LLC IL purchased a new stake in Altus Power in the second quarter worth $55,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Altus Power during the 2nd quarter valued at $68,000. Finally, SG Americas Securities LLC lifted its position in Altus Power by 135.9% during the 3rd quarter. SG Americas Securities LLC now owns 30,146 shares of the company’s stock valued at $96,000 after acquiring an additional 17,368 shares during the period. 46.55% of the stock is currently owned by institutional investors.

Altus Power Stock Up 4.7 %

Shares of AMPS stock opened at $4.00 on Monday. 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 company’s fifty day moving average price is $3.58 and its 200-day moving average price is $3.68. The company has a market capitalization of $643.20 million, a price-to-earnings ratio of 18.18 and a beta of 1.04. Altus Power, Inc. has a one year low of $2.71 and a one year high of $7.28.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Morgan Stanley lowered Altus Power from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $8.00 to $4.00 in a research report on Wednesday, August 21st. Maxim Group decreased their price target on Altus Power from $5.50 to $4.50 and set a “buy” rating for the company in a research note on Monday, August 12th. Citigroup reduced their price target on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Finally, Roth Mkm reiterated a “buy” rating and issued a $4.50 price objective on shares of Altus Power in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Altus Power currently has a consensus rating of “Buy” and a consensus price target of $5.21.

About Altus Power

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.