10,134 Shares in Altus Power, Inc. (NYSE:AMPS) Purchased by Spinnaker Trust

Spinnaker Trust acquired a new position in shares of Altus Power, Inc. (NYSE:AMPS) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 10,134 shares of the company’s stock, valued at approximately $69,000.

A number of other hedge funds have also modified their holdings of AMPS. SG Americas Securities LLC bought a new position in shares of Altus Power during the third quarter worth about $140,000. DAVENPORT & Co LLC bought a new position in shares of Altus Power during the third quarter worth about $580,000. Bank of New York Mellon Corp grew its holdings in shares of Altus Power by 2.5% during the third quarter. Bank of New York Mellon Corp now owns 202,360 shares of the company’s stock worth $1,062,000 after buying an additional 4,864 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Altus Power by 7.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,933 shares of the company’s stock worth $267,000 after buying an additional 3,571 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Altus Power by 196.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 13,319 shares of the company’s stock valued at $70,000 after purchasing an additional 8,826 shares during the last quarter. 46.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on AMPS. B. Riley reduced their price target on Altus Power from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Morgan Stanley reissued an “overweight” rating and set a $9.00 price target on shares of Altus Power in a research report on Thursday, April 11th. Roth Mkm reduced their price target on Altus Power from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, March 15th. Finally, Maxim Group began coverage on Altus Power in a research report on Wednesday, April 10th. They set a “buy” rating and a $7.00 price target for the company. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $8.25.

Altus Power Stock Performance

Shares of AMPS traded up $0.02 during mid-day trading on Friday, reaching $3.62. The company’s stock had a trading volume of 868,966 shares, compared to its average volume of 1,091,312. Altus Power, Inc. has a 1-year low of $3.40 and a 1-year high of $7.28. The business has a 50-day simple moving average of $5.21 and a two-hundred day simple moving average of $5.53. The company has a debt-to-equity ratio of 2.33, a quick ratio of 2.15 and a current ratio of 2.15.

Altus Power (NYSE:AMPS) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). Altus Power had a negative net margin of 6.03% and a negative return on equity of 0.30%. The business had revenue of $34.19 million during the quarter, compared to analyst estimates of $42.85 million. As a group, sell-side analysts expect that Altus Power, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Lars Norell sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $5.58, for a total value of $223,200.00. Following the completion of the sale, the chief executive officer now directly owns 21,654,907 shares of the company’s stock, valued at $120,834,381.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Gregg J. Felton purchased 12,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was acquired at an average cost of $4.78 per share, with a total value of $59,750.00. Following the acquisition, the chief executive officer now owns 11,894,603 shares in the company, valued at approximately $56,856,202.34. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lars Norell sold 40,000 shares of Altus Power stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $5.58, for a total value of $223,200.00. Following the sale, the chief executive officer now directly owns 21,654,907 shares of the company’s stock, valued at $120,834,381.06. The disclosure for this sale can be found here. Insiders sold a total of 83,673 shares of company stock valued at $530,948 over the last three months. Insiders own 24.30% of the company’s stock.

Altus Power Company 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.