J. Goldman & Co LP Reduces Stock Position in Altus Power, Inc. (NYSE:AMPS)

J. Goldman & Co LP cut its position in shares of Altus Power, Inc. (NYSE:AMPS) by 19.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 480,000 shares of the company’s stock after selling 117,500 shares during the period. J. Goldman & Co LP owned approximately 0.30% of Altus Power worth $1,954,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Altus Power by 8.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 54,512 shares of the company’s stock worth $222,000 after purchasing an additional 4,395 shares during the period. SG Americas Securities LLC boosted its stake in shares of Altus Power by 19.6% during the 4th quarter. SG Americas Securities LLC now owns 36,058 shares of the company’s stock worth $147,000 after purchasing an additional 5,912 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Altus Power by 14.4% during the 4th quarter. Janus Henderson Group PLC now owns 51,236 shares of the company’s stock worth $208,000 after purchasing an additional 6,444 shares during the period. Pictet Asset Management Holding SA boosted its stake in shares of Altus Power by 23.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 34,656 shares of the company’s stock worth $141,000 after purchasing an additional 6,524 shares during the period. Finally, Northern Trust Corp lifted its holdings in Altus Power by 1.2% during the 4th quarter. Northern Trust Corp now owns 686,539 shares of the company’s stock valued at $2,794,000 after buying an additional 7,888 shares in the last quarter. 46.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Dustin Weber sold 9,162 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total transaction of $44,985.42. Following the completion of the sale, the chief financial officer now owns 2,002,611 shares of the company’s stock, valued at $9,832,820.01. This represents a 0.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gregg J. Felton sold 71,161 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total transaction of $349,400.51. Following the sale, the chief executive officer now directly owns 4,023,696 shares of the company’s stock, valued at $19,756,347.36. The trade was a 1.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 221,422 shares of company stock worth $1,093,796. 24.30% of the stock is currently owned by corporate insiders.

Altus Power Trading Down 0.1%

NYSE:AMPS opened at $5.00 on Monday. Altus Power, Inc. has a one year low of $2.71 and a one year high of $5.00. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60. The firm has a market cap of $801.30 million, a P/E ratio of 22.70 and a beta of 0.94. The firm has a 50-day simple moving average of $4.97 and a 200-day simple moving average of $4.40.

Altus Power (NYSE:AMPS) last posted its quarterly earnings results on Monday, March 17th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.28). Altus Power had a net margin of 19.18% and a return on equity of 4.79%. The business had revenue of $44.47 million during the quarter, compared to the consensus estimate of $46.64 million. Equities analysts anticipate that Altus Power, Inc. will post 0.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a report on Thursday, February 6th. UBS Group lowered shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price objective for the company. in a report on Monday, February 10th. B. Riley lowered shares of Altus Power from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $6.00 to $5.00 in a report on Friday, February 7th. Roth Mkm reiterated a “neutral” rating and set a $5.00 price objective on shares of Altus Power in a report on Friday, March 21st. Finally, Seaport Res Ptn lowered shares of Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.13.

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.