Levin Capital Strategies L.P. Invests $143,000 in Altus Power, Inc. (NYSE:AMPS)

Levin Capital Strategies L.P. acquired a new position in Altus Power, Inc. (NYSE:AMPS) in the 1st quarter, Holdings Channel reports. The firm acquired 30,000 shares of the company’s stock, valued at approximately $143,000.

A number of other hedge funds have also modified their holdings of the business. Jacobs Levy Equity Management Inc. acquired a new position in shares of Altus Power in the 1st quarter worth approximately $88,000. Janus Henderson Group PLC increased its holdings in Altus Power by 196.6% in the first quarter. Janus Henderson Group PLC now owns 68,309 shares of the company’s stock valued at $326,000 after buying an additional 45,276 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Altus Power by 7.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,257 shares of the company’s stock worth $212,000 after buying an additional 3,116 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Altus Power by 15.2% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 259,441 shares of the company’s stock worth $1,240,000 after acquiring an additional 34,244 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. increased its holdings in shares of Altus Power by 38.4% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 428,963 shares of the company’s stock valued at $2,050,000 after acquiring an additional 118,963 shares during the last quarter. 46.55% of the stock is currently owned by hedge funds and other institutional investors.

Altus Power Stock Performance

Shares of AMPS traded up $0.05 during mid-day trading on Wednesday, hitting $4.21. 794,100 shares of the company’s stock were exchanged, compared to its average volume of 1,076,825. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.47. Altus Power, Inc. has a fifty-two week low of $3.40 and a fifty-two week high of $7.28. The business’s 50 day moving average is $4.17 and its two-hundred day moving average is $4.84. The firm has a market capitalization of $675.63 million, a P/E ratio of -84.10 and a beta of 1.00.

Altus Power (NYSE:AMPS) last released its earnings results on Thursday, May 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). Altus Power had a negative return on equity of 1.37% and a negative net margin of 4.48%. The business had revenue of $40.66 million for the quarter, compared to analyst estimates of $39.13 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. On average, equities analysts expect that Altus Power, Inc. will post -0.07 earnings per share for the current year.

Insider Transactions at Altus Power

In other Altus Power news, CEO Gregg J. Felton acquired 82,576 shares of the stock in a transaction on Friday, May 31st. The shares were bought at an average price of $3.90 per share, with a total value of $322,046.40. Following the acquisition, the chief executive officer now owns 11,977,179 shares of the company’s stock, valued at $46,710,998.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Altus Power news, CEO Gregg J. Felton purchased 82,576 shares of Altus Power stock in a transaction dated Friday, May 31st. The stock was acquired at an average cost of $3.90 per share, with a total value of $322,046.40. Following the acquisition, the chief executive officer now directly owns 11,977,179 shares of the company’s stock, valued at $46,710,998.10. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gregg J. Felton purchased 34,139 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was acquired at an average price of $3.99 per share, for a total transaction of $136,214.61. Following the completion of the purchase, the chief executive officer now owns 12,044,603 shares of the company’s stock, valued at $48,057,965.97. The disclosure for this purchase can be found here. Company insiders own 24.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AMPS shares. B. Riley upgraded Altus Power to a “strong-buy” rating in a research note on Tuesday, June 25th. Seaport Res Ptn upgraded shares of Altus Power to a “strong-buy” rating in a research report on Monday, June 3rd. Morgan Stanley restated an “overweight” rating and issued a $9.00 target price on shares of Altus Power in a report on Thursday, April 11th. Maxim Group started coverage on shares of Altus Power in a research note on Wednesday, April 10th. They set a “buy” rating and a $7.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered Altus Power from an “overweight” rating to a “neutral” rating in a report on Wednesday, May 15th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $7.50.

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.