JPMorgan Chase & Co. Sells 41,699 Shares of Altus Power, Inc. (NYSE:AMPS)

JPMorgan Chase & Co. lessened its stake in shares of Altus Power, Inc. (NYSE:AMPS) by 47.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,053 shares of the company’s stock after selling 41,699 shares during the period. JPMorgan Chase & Co.’s holdings in Altus Power were worth $150,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Iridian Asset Management LLC CT bought a new stake in shares of Altus Power in the 3rd quarter valued at about $40,000. HighTower Advisors LLC bought a new position in Altus Power in the third quarter worth approximately $41,000. Susquehanna Fundamental Investments LLC purchased a new stake in Altus Power during the second quarter worth $68,000. Intech Investment Management LLC purchased a new position in shares of Altus Power in the 3rd quarter valued at $86,000. Finally, SG Americas Securities LLC raised its position in shares of Altus Power by 135.9% in the 3rd quarter. SG Americas Securities LLC now owns 30,146 shares of the company’s stock worth $96,000 after acquiring an additional 17,368 shares in the last quarter. Hedge funds and other institutional investors own 46.55% of the company’s stock.

Altus Power Trading Down 2.1 %

NYSE:AMPS opened at $4.02 on Friday. 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 fifty day simple moving average of $3.98 and a 200-day simple moving average of $3.63. Altus Power, Inc. has a 12 month low of $2.71 and a 12 month high of $7.28. The company has a market capitalization of $645.61 million, a P/E ratio of 18.25 and a beta of 1.05.

Analyst Upgrades and Downgrades

Several analysts have commented on AMPS shares. Roth Mkm reissued a “buy” rating and set a $4.50 price target on shares of Altus Power in a research report on Wednesday, October 16th. JPMorgan Chase & Co. cut shares of Altus Power from a “neutral” rating to an “underweight” rating in a research report on Thursday, December 12th. Finally, Citigroup cut their price target on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Altus Power presently has an average rating of “Moderate Buy” and an average target price of $5.21.

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.