Altus Power, Inc. (NYSE:AMPS) CEO Sells $431,758.08 in Stock

Altus Power, Inc. (NYSE:AMPS) CEO Gregg J. Felton sold 87,048 shares of Altus Power stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $4.96, for a total value of $431,758.08. Following the sale, the chief executive officer now directly owns 3,852,712 shares in the company, valued at $19,109,451.52. The trade was a 2.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Altus Power Stock Performance

AMPS stock opened at $4.99 on Friday. The firm has a market cap of $799.70 million, a PE ratio of 22.66 and a beta of 0.94. 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 stock has a 50-day moving average price of $4.89 and a 200-day moving average price of $4.13. Altus Power, Inc. has a 1-year low of $2.71 and a 1-year high of $5.50.

Altus Power (NYSE:AMPS) last issued its earnings results on Monday, March 17th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The business had revenue of $44.47 million during the quarter, compared to the consensus estimate of $46.64 million. Altus Power had a return on equity of 4.79% and a net margin of 19.18%. As a group, equities research analysts expect that Altus Power, Inc. will post 0.14 earnings per share for the current year.

Institutional Trading of Altus Power

Several hedge funds have recently modified their holdings of the stock. Encompass Capital Advisors LLC grew its holdings in Altus Power by 20.0% in the fourth quarter. Encompass Capital Advisors LLC now owns 8,027,318 shares of the company’s stock worth $32,671,000 after purchasing an additional 1,336,044 shares during the period. Quinn Opportunity Partners LLC acquired a new position in shares of Altus Power during the fourth quarter valued at about $1,887,000. Millennium Management LLC boosted its position in shares of Altus Power by 148.3% during the 4th quarter. Millennium Management LLC now owns 652,278 shares of the company’s stock worth $2,655,000 after purchasing an additional 389,605 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Altus Power by 7.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,648,599 shares of the company’s stock valued at $14,850,000 after buying an additional 263,393 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Altus Power in the 3rd quarter valued at about $425,000. Institutional investors own 46.55% of the company’s stock.

Wall Street Analysts Forecast Growth

AMPS has been the topic of several recent research reports. Roth Mkm reiterated a “neutral” rating and set a $5.00 target price on shares of Altus Power in a research report on Friday, March 21st. Seaport Res Ptn lowered shares of Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. Roth Capital downgraded Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. JPMorgan Chase & Co. raised Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a report on Thursday, February 6th. Finally, UBS Group cut Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price target for the company. in a research note on Monday, February 10th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $5.13.

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.