Swedbank AB Cuts Stock Position in Altus Power, Inc. (NYSE:AMPS)

Swedbank AB reduced its holdings in Altus Power, Inc. (NYSE:AMPS - Free Report) by 68.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 825,182 shares of the company's stock after selling 1,808,518 shares during the quarter. Swedbank AB owned about 0.51% of Altus Power worth $2,624,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in AMPS. Summit Securities Group LLC bought a new position in Altus Power in the 2nd quarter worth $39,000. Iridian Asset Management LLC CT purchased a new position in shares of Altus Power in the 3rd quarter valued at approximately $40,000. Vaughan David Investments LLC IL purchased a new stake in Altus Power in the second quarter worth $55,000. Susquehanna Fundamental Investments LLC purchased a new position in Altus Power during the second quarter valued at $68,000. Finally, Intech Investment Management LLC bought a new stake in shares of Altus Power during the 3rd quarter valued at $86,000. 46.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMPS has been the subject of a number of recent research reports. 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. Morgan Stanley downgraded Altus Power from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $8.00 to $4.00 in a research note on Wednesday, August 21st. UBS Group lowered their price objective on Altus Power from $5.50 to $5.00 and set a "buy" rating for the company in a research note on Friday, August 9th. Citigroup cut their target price 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, Maxim Group decreased their price objective on shares of Altus Power from $5.50 to $4.50 and set a "buy" rating for the company in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Altus Power currently has a consensus rating of "Buy" and an average price target of $5.81.

Altus Power Price Performance

AMPS stock traded up $0.14 during trading on Thursday, reaching $4.36. The company's stock had a trading volume of 727,224 shares, compared to its average volume of 1,078,354. The company's fifty day moving average is $3.46 and its 200-day moving average is $3.68. Altus Power, Inc. has a 1 year low of $2.71 and a 1 year high of $7.28. The company has a market capitalization of $701.09 million, a P/E ratio of 19.82 and a beta of 0.94. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10.

Altus Power Company 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.