Insider Selling: Altus Power, Inc. (NYSE:AMPS) Insider Sells 8,823 Shares of Stock

Altus Power, Inc. (NYSE:AMPS) insider Anthony Savino sold 8,823 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $4.91, for a total value of $43,320.93. Following the sale, the insider now directly owns 4,088,231 shares of the company’s stock, valued at $20,073,214.21. This represents a 0.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Altus Power Price Performance

Shares of NYSE:AMPS traded down $0.01 during mid-day trading on Monday, reaching $4.90. The stock had a trading volume of 1,596,810 shares, compared to its average volume of 3,882,152. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.10. The company has a market cap of $787.12 million, a P/E ratio of 22.25 and a beta of 1.05. Altus Power, Inc. has a 1 year low of $2.71 and a 1 year high of $7.01. The business’s 50 day moving average price is $4.20 and its 200 day moving average price is $3.70.

Institutional Investors Weigh In On Altus Power

A number of hedge funds have recently made changes to their positions in AMPS. SG Americas Securities LLC lifted its position in shares of Altus Power by 135.9% in the third quarter. SG Americas Securities LLC now owns 30,146 shares of the company’s stock worth $96,000 after buying an additional 17,368 shares in the last quarter. abrdn plc raised its position in Altus Power by 8.7% during the third quarter. abrdn plc now owns 1,444,400 shares of the company’s stock valued at $4,593,000 after purchasing an additional 115,300 shares during the period. Iridian Asset Management LLC CT purchased a new stake in Altus Power during the third quarter valued at approximately $40,000. HTG Investment Advisors Inc. raised its position in Altus Power by 8.6% during the third quarter. HTG Investment Advisors Inc. now owns 65,148 shares of the company’s stock valued at $207,000 after purchasing an additional 5,148 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in Altus Power during the third quarter valued at approximately $286,000. 46.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AMPS shares. Seaport Res Ptn lowered Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. B. Riley lowered Altus Power from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $6.00 to $5.00 in a research note on Friday, February 7th. JPMorgan Chase & Co. raised Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a research note on Thursday, February 6th. Finally, UBS Group lowered Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price objective for the company. in a research note on Monday, February 10th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Altus Power presently has an average rating of “Hold” and a consensus price target of $5.06.

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.