HighTower Advisors LLC Invests $41,000 in Altus Power, Inc. (NYSE:AMPS)

HighTower Advisors LLC purchased a new stake in Altus Power, Inc. (NYSE:AMPS) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,023 shares of the company’s stock, valued at approximately $41,000.

A number of other institutional investors also recently bought and sold shares of AMPS. HTG Investment Advisors Inc. increased its holdings in shares of Altus Power by 8.6% in the 3rd quarter. HTG Investment Advisors Inc. now owns 65,148 shares of the company’s stock valued at $207,000 after acquiring an additional 5,148 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Altus Power by 24.3% during the second quarter. The Manufacturers Life Insurance Company now owns 31,771 shares of the company’s stock worth $125,000 after purchasing an additional 6,209 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Altus Power by 14.3% during the 2nd quarter. American Century Companies Inc. now owns 72,322 shares of the company’s stock worth $284,000 after buying an additional 9,062 shares during the last quarter. Iridian Asset Management LLC CT acquired a new position in shares of Altus Power in the 3rd quarter valued at $40,000. Finally, Vaughan David Investments LLC IL acquired a new position in shares of Altus Power in the 2nd quarter valued at $55,000. 46.55% of the stock is owned by hedge funds and other institutional investors.

Altus Power Stock Performance

Shares of AMPS stock opened at $4.27 on Friday. Altus Power, Inc. has a 52-week low of $2.71 and a 52-week high of $7.28. The stock’s 50-day moving average price is $3.79 and its 200 day moving average price is $3.67. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10. The stock has a market capitalization of $686.60 million, a PE ratio of 19.41 and a beta of 1.04.

Analysts Set New Price Targets

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

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.