HighTower Advisors LLC Purchases Shares of 13,023 Altus Power, Inc. (NYSE:AMPS)

HighTower Advisors LLC acquired a new position in shares of Altus Power, Inc. (NYSE:AMPS) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 13,023 shares of the company’s stock, valued at approximately $41,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Iridian Asset Management LLC CT acquired a new stake in shares of Altus Power during the third quarter valued at about $40,000. Vaughan David Investments LLC IL acquired a new position in shares of Altus Power during the second quarter worth approximately $55,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Altus Power during the second quarter valued at $68,000. Intech Investment Management LLC acquired a new position in shares of Altus Power during the third quarter valued at approximately $86,000. Finally, SG Americas Securities LLC lifted its holdings 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 valued at $96,000 after buying an additional 17,368 shares during the period. Institutional investors and hedge funds own 46.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AMPS shares. JPMorgan Chase & Co. lowered shares of Altus Power from a “neutral” rating to an “underweight” rating in a report on Thursday, December 12th. Citigroup cut 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. Finally, Roth Mkm reissued a “buy” rating and set a $4.50 price objective on shares of Altus Power in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Altus Power currently has a consensus rating of “Moderate Buy” and an average target price of $5.21.

Altus Power Trading Up 3.6 %

AMPS stock opened at $4.27 on Friday. The business’s 50 day moving average is $3.79 and its 200-day moving average is $3.67. 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 firm has a market cap of $686.60 million, a P/E ratio of 19.41 and a beta of 1.04. Altus Power, Inc. has a 1-year low of $2.71 and a 1-year high of $7.28.

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.