Swedbank AB Lowers Stock Holdings in Altus Power, Inc. (NYSE:AMPS)

Swedbank AB lowered its position in shares of Altus Power, Inc. (NYSE:AMPS) by 68.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 825,182 shares of the company’s stock after selling 1,808,518 shares during the period. Swedbank AB owned 0.51% of Altus Power worth $2,624,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Encompass Capital Advisors LLC boosted its holdings in Altus Power by 1.2% in the 2nd quarter. Encompass Capital Advisors LLC now owns 4,628,613 shares of the company’s stock valued at $18,144,000 after purchasing an additional 53,031 shares during the period. Dimensional Fund Advisors LP grew its position in Altus Power by 37.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,974,269 shares of the company’s stock worth $11,662,000 after buying an additional 807,071 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in Altus Power by 112.1% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,411,042 shares of the company’s stock worth $5,531,000 after buying an additional 745,810 shares in the last quarter. Long Focus Capital Management LLC increased its stake in Altus Power by 427.6% in the 2nd quarter. Long Focus Capital Management LLC now owns 549,081 shares of the company’s stock worth $2,152,000 after acquiring an additional 445,000 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in shares of Altus Power by 78.8% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 437,286 shares of the company’s stock valued at $1,714,000 after acquiring an additional 192,687 shares in the last quarter. Institutional investors own 46.55% of the company’s stock.

Altus Power Stock Up 0.6 %

Shares of NYSE:AMPS opened at $3.62 on Friday. The stock has a market capitalization of $581.63 million, a P/E ratio of -72.40 and a beta of 0.96. The stock’s 50-day moving average price is $3.16 and its 200-day moving average price is $3.79. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.18. Altus Power, Inc. has a 12-month low of $2.71 and a 12-month high of $7.28.

Altus Power (NYSE:AMPS) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.13. Altus Power had a return on equity of 2.52% and a net margin of 13.55%. The business had revenue of $52.46 million for the quarter, compared to analyst estimates of $57.61 million. On average, equities analysts anticipate that Altus Power, Inc. will post 0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. B. Riley upgraded shares of Altus Power to a “strong-buy” rating in a research report on Tuesday, June 25th. Maxim Group lowered their price objective on shares of Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a research report on Monday, August 12th. UBS Group cut their target price on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Roth Mkm reissued a “buy” rating and issued a $4.50 target price on shares of Altus Power in a research note on Wednesday. Finally, Morgan Stanley lowered Altus Power from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $8.00 to $4.00 in a research note on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $6.00.

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.