Bank of New York Mellon Corp Grows Holdings in Altus Power, Inc. (NYSE:AMPS)

Bank of New York Mellon Corp grew its position in Altus Power, Inc. (NYSE:AMPS) by 25.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 242,455 shares of the company’s stock after acquiring an additional 48,608 shares during the period. Bank of New York Mellon Corp owned about 0.15% of Altus Power worth $950,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Victory Capital Management Inc. purchased a new stake in Altus Power in the 4th quarter worth $72,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Altus Power in the first quarter valued at about $88,000. Levin Capital Strategies L.P. purchased a new stake in shares of Altus Power during the first quarter worth about $143,000. ANTIPODES PARTNERS Ltd raised its position in shares of Altus Power by 17.0% during the 1st quarter. ANTIPODES PARTNERS Ltd now owns 35,198 shares of the company’s stock worth $168,000 after purchasing an additional 5,116 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Altus Power by 7.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,257 shares of the company’s stock valued at $212,000 after buying an additional 3,116 shares in the last quarter. 46.55% of the stock is owned by hedge funds and other institutional investors.

Altus Power Stock Up 4.5 %

NYSE AMPS opened at $3.51 on Friday. The business’s fifty day simple moving average is $3.50 and its 200-day simple moving average is $4.07. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 2.18. The firm has a market cap of $563.96 million, a PE ratio of -70.20 and a beta of 0.96. Altus Power, Inc. has a 52 week low of $2.80 and a 52 week high of $7.28.

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

Wall Street Analysts Forecast Growth

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

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.