Syquant Capital Sas Acquires Shares of 255,000 Altus Power, Inc. (NYSE:AMPS)

Syquant Capital Sas acquired a new stake in shares of Altus Power, Inc. (NYSE:AMPS) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 255,000 shares of the company’s stock, valued at approximately $1,262,000. Altus Power comprises about 0.9% of Syquant Capital Sas’ investment portfolio, making the stock its 9th biggest holding. Syquant Capital Sas owned approximately 0.16% of Altus Power as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Encompass Capital Advisors LLC lifted its position in shares of Altus Power by 20.0% during the fourth quarter. Encompass Capital Advisors LLC now owns 8,027,318 shares of the company’s stock worth $32,671,000 after acquiring an additional 1,336,044 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Altus Power by 7.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,648,599 shares of the company’s stock worth $14,850,000 after purchasing an additional 263,393 shares in the last quarter. Legal & General Group Plc lifted its holdings in Altus Power by 1.4% during the 4th quarter. Legal & General Group Plc now owns 1,905,722 shares of the company’s stock worth $7,756,000 after purchasing an additional 26,760 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Altus Power by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,564,740 shares of the company’s stock worth $6,370,000 after purchasing an additional 10,450 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Altus Power by 1.2% in the fourth quarter. Northern Trust Corp now owns 686,539 shares of the company’s stock worth $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.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AMPS shares. Roth Mkm reissued a “neutral” rating and issued a $5.00 price target on shares of Altus Power in a report on Friday, March 21st. Roth Capital cut shares of Altus Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Altus Power currently has an average rating of “Hold” and an average price target of $4.86.

Altus Power Trading Down 0.1%

Shares of AMPS opened at $5.00 on Tuesday. The firm’s 50 day simple moving average is $5.00 and its 200 day simple moving average is $4.66. 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 company has a market capitalization of $801.30 million, a P/E ratio of 22.70 and a beta of 0.94. Altus Power, Inc. has a 1-year low of $2.71 and a 1-year high of $5.00.

Insider Buying and Selling at Altus Power

In other Altus Power news, CEO Gregg J. Felton sold 87,048 shares of Altus Power stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $4.96, for a total transaction of $431,758.08. Following the transaction, the chief executive officer now directly owns 3,852,712 shares of the company’s stock, valued at approximately $19,109,451.52. This trade represents a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Anthony Savino sold 29,748 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $4.96, for a total transaction of $147,550.08. Following the transaction, the insider now directly owns 4,030,459 shares in the company, valued at approximately $19,991,076.64. This represents a 0.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 132,276 shares of company stock worth $656,089 over the last 90 days. Corporate insiders own 24.30% of the company’s stock.

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.