Altus Power, Inc. (NYSE:AMPS) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its holdings in shares of Altus Power, Inc. (NYSE:AMPS) by 13.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,402 shares of the company’s stock after selling 18,523 shares during the period. Rhumbline Advisers owned approximately 0.08% of Altus Power worth $494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. abrdn plc grew its position in Altus Power by 7.3% during the fourth quarter. abrdn plc now owns 1,550,200 shares of the company’s stock valued at $6,418,000 after buying an additional 105,800 shares during the period. SG Americas Securities LLC grew its position in shares of Altus Power by 19.6% in the fourth quarter. SG Americas Securities LLC now owns 36,058 shares of the company’s stock valued at $147,000 after purchasing an additional 5,912 shares during the period. Magnus Financial Group LLC acquired a new stake in shares of Altus Power in the fourth quarter valued at about $333,000. Ballentine Partners LLC acquired a new position in Altus Power during the fourth quarter worth about $112,000. Finally, Avanza Fonder AB acquired a new position in Altus Power during the fourth quarter worth about $213,000. Hedge funds and other institutional investors own 46.55% of the company’s stock.

Altus Power Stock Up 0.5 %

AMPS stock opened at $4.95 on Friday. The company has a fifty day moving average price of $4.38 and a 200 day moving average price of $3.82. Altus Power, Inc. has a 12 month low of $2.71 and a 12 month high of $6.84. The company has a market cap of $795.14 million, a price-to-earnings ratio of 22.48 and a beta of 0.98. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.60 and a quick ratio of 0.60.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AMPS. JPMorgan Chase & Co. upgraded shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a research report on Thursday, February 6th. UBS Group downgraded shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 target price on the stock. in a research note on Monday, February 10th. B. Riley cut shares of Altus Power from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $6.00 to $5.00 in a report on Friday, February 7th. Finally, Seaport Res Ptn cut shares of Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $5.06.

Insider Activity at Altus Power

In other Altus Power news, insider Anthony Savino sold 8,823 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total transaction of $43,320.93. Following the completion of the transaction, the insider now owns 4,088,231 shares in the company, valued at approximately $20,073,214.21. This represents a 0.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregg J. Felton sold 71,161 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total transaction of $349,400.51. Following the transaction, the chief executive officer now owns 4,023,696 shares of the company’s stock, valued at approximately $19,756,347.36. The trade was a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,146 shares of company stock worth $437,707 in the last 90 days. 24.30% of the stock is owned by insiders.

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.