Altus Power, Inc. (NYSE:AMPS) Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd lowered its stake in Altus Power, Inc. (NYSE:AMPS - Free Report) by 92.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,355 shares of the company's stock after selling 402,587 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Altus Power were worth $128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. US Bancorp DE lifted its position in shares of Altus Power by 11,326.2% during the 4th quarter. US Bancorp DE now owns 9,598 shares of the company's stock worth $39,000 after buying an additional 9,514 shares during the last quarter. HighTower Advisors LLC purchased a new stake in Altus Power in the third quarter valued at $41,000. Citizens Financial Group Inc. RI acquired a new position in Altus Power in the fourth quarter valued at $41,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Altus Power during the fourth quarter worth about $53,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Altus Power in the 3rd quarter valued at about $86,000. Hedge funds and other institutional investors own 46.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Seaport Res Ptn cut Altus Power from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 6th. B. Riley cut shares of Altus Power from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $6.00 to $5.00 in a research note on Friday, February 7th. UBS Group lowered shares of Altus Power from a "buy" rating to a "neutral" rating and set a $5.00 price objective on the stock. in a research note on Monday, February 10th. Roth Capital cut Altus Power from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 20th. Finally, Roth Mkm reaffirmed a "neutral" rating and set a $5.00 price objective on shares of Altus Power in a research report on Friday, March 21st. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Altus Power currently has an average rating of "Hold" and a consensus target price of $5.13.

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Insider Buying and Selling at Altus Power

In other Altus Power news, insider Anthony Savino sold 8,823 shares of the company'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 transaction, the insider now directly owns 4,088,231 shares in the company, valued at approximately $20,073,214.21. This represents a 0.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dustin Weber sold 9,162 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total transaction of $44,985.42. Following the completion of the transaction, the chief financial officer now directly owns 2,002,611 shares of the company's stock, valued at approximately $9,832,820.01. This represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,146 shares of company stock valued at $437,707 over the last quarter. Corporate insiders own 24.30% of the company's stock.

Altus Power Price Performance

AMPS stock traded down $0.01 during trading on Wednesday, reaching $4.96. 480,038 shares of the company were exchanged, compared to its average volume of 1,603,435. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60. The stock's 50 day moving average price is $4.68 and its 200 day moving average price is $4.04. Altus Power, Inc. has a 52-week low of $2.71 and a 52-week high of $5.50. The company has a market cap of $794.89 million, a P/E ratio of 22.52 and a beta of 0.98.

Altus Power (NYSE:AMPS - Get Free Report) last issued its quarterly earnings data on Monday, March 17th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The firm had revenue of $44.47 million for the quarter, compared to analyst estimates of $46.64 million. Altus Power had a return on equity of 4.79% and a net margin of 19.18%. As a group, analysts predict that Altus Power, Inc. will post 0.14 earnings per share for the current fiscal year.

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.