Alliancebernstein L.P. Lowers Stock Holdings in Altus Power, Inc. (NYSE:AMPS)

Alliancebernstein L.P. trimmed its holdings in Altus Power, Inc. (NYSE:AMPS - Free Report) by 38.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 154,610 shares of the company's stock after selling 97,503 shares during the quarter. Alliancebernstein L.P. owned 0.10% of Altus Power worth $629,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in AMPS. SG Americas Securities LLC raised its holdings in shares of Altus Power by 19.6% during the fourth quarter. SG Americas Securities LLC now owns 36,058 shares of the company's stock valued at $147,000 after acquiring an additional 5,912 shares during the period. Pictet Asset Management Holding SA boosted its position in Altus Power by 23.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 34,656 shares of the company's stock valued at $141,000 after purchasing an additional 6,524 shares during the last quarter. US Bancorp DE grew its stake in Altus Power by 11,326.2% in the fourth quarter. US Bancorp DE now owns 9,598 shares of the company's stock valued at $39,000 after purchasing an additional 9,514 shares in the last quarter. American Century Companies Inc. grew its stake in Altus Power by 11.4% in the fourth quarter. American Century Companies Inc. now owns 95,816 shares of the company's stock valued at $390,000 after purchasing an additional 9,794 shares in the last quarter. Finally, Citizens Financial Group Inc. RI acquired a new stake in shares of Altus Power during the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 46.55% of the company's stock.

Analyst Upgrades and Downgrades

AMPS has been the subject of several recent research reports. JPMorgan Chase & Co. raised shares of Altus Power from an "underweight" rating to a "neutral" rating and set a $5.00 target price for the company in a research report on Thursday, February 6th. UBS Group lowered Altus Power from a "buy" rating to a "neutral" rating and set a $5.00 target price on the stock. in a report on Monday, February 10th. Seaport Res Ptn downgraded Altus Power from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 6th. B. Riley cut Altus Power from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $6.00 to $5.00 in a research report on Friday, February 7th. Finally, Roth Capital cut shares of Altus Power from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 20th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $5.13.

Insider Buying and Selling

In other news, CFO Dustin Weber sold 15,480 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $4.96, for a total transaction of $76,780.80. Following the completion of the transaction, the chief financial officer now owns 1,966,208 shares in the company, valued at approximately $9,752,391.68. This represents a 0.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregg J. Felton sold 87,048 shares of Altus Power stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $4.96, for a total transaction of $431,758.08. Following the completion of the transaction, the chief executive officer now owns 3,852,712 shares of the company's stock, valued at $19,109,451.52. The trade was a 2.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 221,422 shares of company stock worth $1,093,796. Insiders own 24.30% of the company's stock.

Altus Power Stock Performance

Altus Power stock traded down $0.01 on Thursday, hitting $5.00. The company's stock had a trading volume of 5,274,621 shares, compared to its average volume of 1,755,054. Altus Power, Inc. has a one year low of $2.71 and a one year high of $5.50. The company has a fifty day moving average price of $4.95 and a 200-day moving average price of $4.24. The firm has a market cap of $801.30 million, a P/E ratio of 22.70 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 (NYSE:AMPS - Get Free Report) last issued its quarterly earnings results on Monday, March 17th. The company reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.28). Altus Power had a return on equity of 4.79% and a net margin of 19.18%. The business had revenue of $44.47 million for the quarter, compared to the consensus estimate of $46.64 million. On average, equities analysts anticipate that Altus Power, Inc. will post 0.14 earnings per share for the current year.

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.