State Street Corp Acquires 21,312 Shares of Altus Power, Inc. (NYSE:AMPS)

State Street Corp grew its holdings in Altus Power, Inc. (NYSE:AMPS) by 0.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,682,864 shares of the company’s stock after purchasing an additional 21,312 shares during the period. State Street Corp owned about 2.29% of Altus Power worth $11,712,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its stake in shares of Altus Power by 37.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,974,269 shares of the company’s stock worth $11,662,000 after buying an additional 807,071 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of Altus Power by 112.1% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,411,042 shares of the company’s stock worth $5,531,000 after purchasing an additional 745,810 shares during the last quarter. Long Focus Capital Management LLC raised its stake in shares of Altus Power by 427.6% during the 2nd quarter. Long Focus Capital Management LLC now owns 549,081 shares of the company’s stock worth $2,152,000 after purchasing an additional 445,000 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of Altus Power in the 2nd quarter valued at approximately $1,085,000. Finally, abrdn plc increased its holdings in Altus Power by 8.7% during the third quarter. abrdn plc now owns 1,444,400 shares of the company’s stock worth $4,593,000 after buying an additional 115,300 shares during the last quarter. Institutional investors and hedge funds own 46.55% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on AMPS. Roth Mkm restated a “buy” rating and set a $4.50 price objective on shares of Altus Power in a research note on Wednesday, October 16th. JPMorgan Chase & Co. downgraded Altus Power from a “neutral” rating to an “underweight” rating in a research report on Thursday, December 12th. Finally, Citigroup cut their price objective on Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $5.21.

Altus Power Stock Performance

AMPS opened at $4.12 on Thursday. 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 has a fifty day simple moving average of $3.78 and a 200 day simple moving average of $3.67. Altus Power, Inc. has a 1 year low of $2.71 and a 1 year high of $7.28. The company has a market capitalization of $662.48 million, a PE ratio of 18.73 and a beta of 1.04.

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.