Altus Power, Inc. (NYSE:AMPS) Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC lowered its stake in shares of Altus Power, Inc. (NYSE:AMPS) by 27.0% during the fourth quarter, Holdings Channel reports. The fund owned 50,110 shares of the company’s stock after selling 18,500 shares during the quarter. DAVENPORT & Co LLC’s holdings in Altus Power were worth $204,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Iridian Asset Management LLC CT acquired a new stake in Altus Power during the 3rd quarter valued at approximately $40,000. HighTower Advisors LLC acquired a new position in Altus Power during the 3rd quarter valued at approximately $41,000. Intech Investment Management LLC acquired a new position in Altus Power during the 3rd quarter valued at approximately $86,000. SG Americas Securities LLC boosted its position in Altus Power by 135.9% during the 3rd quarter. SG Americas Securities LLC now owns 30,146 shares of the company’s stock valued at $96,000 after purchasing an additional 17,368 shares during the period. Finally, Ballentine Partners LLC bought a new stake in Altus Power during the 4th quarter valued at $112,000. 46.55% of the stock is owned by institutional investors and hedge funds.

Altus Power Price Performance

Shares of AMPS stock opened at $4.87 on Monday. 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 capitalization of $782.29 million, a P/E ratio of 22.11 and a beta of 1.05. Altus Power, Inc. has a 12 month low of $2.71 and a 12 month high of $7.28. The stock has a 50 day moving average of $3.98 and a two-hundred day moving average of $3.63.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AMPS. Citigroup dropped their price objective on Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. B. Riley downgraded Altus Power from a “buy” rating to a “neutral” rating and lowered their price target for the company from $6.00 to $5.00 in a report on Friday. JPMorgan Chase & Co. raised Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research report on Thursday. Roth Mkm reaffirmed a “buy” rating and issued a $4.50 target price on shares of Altus Power in a research report on Wednesday, October 16th. Finally, Seaport Res Ptn lowered Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $5.06.

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.