DekaBank Deutsche Girozentrale Invests $3.67 Million in Altus Power, Inc. (NYSE:AMPS)

DekaBank Deutsche Girozentrale bought a new stake in Altus Power, Inc. (NYSE:AMPS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 535,950 shares of the company's stock, valued at approximately $3,671,000. DekaBank Deutsche Girozentrale owned 0.33% of Altus Power as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Ensign Peak Advisors Inc acquired a new position in Altus Power in the third quarter valued at $26,000. JPMorgan Chase & Co. purchased a new position in shares of Altus Power in the 1st quarter valued at approximately $39,000. Advisors Asset Management Inc. purchased a new position in shares of Altus Power in the 4th quarter valued at approximately $37,000. Royal Bank of Canada acquired a new position in shares of Altus Power in the first quarter valued at approximately $46,000. Finally, Point72 Middle East FZE acquired a new stake in shares of Altus Power during the fourth quarter worth $41,000. Hedge funds and other institutional investors own 46.55% of the company's stock.

Altus Power Price Performance

Shares of NYSE AMPS traded down $0.20 during midday trading on Friday, hitting $4.21. The company had a trading volume of 960,524 shares, compared to its average volume of 1,332,257. The firm has a market capitalization of $669.73 million, a price-to-earnings ratio of -60.13 and a beta of 0.88. Altus Power, Inc. has a twelve month low of $4.08 and a twelve month high of $7.28. The business has a 50-day simple moving average of $5.75 and a two-hundred day simple moving average of $5.61. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 2.33.

Altus Power (NYSE:AMPS - Get Free Report) last issued its earnings results on Thursday, March 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.02). The company had revenue of $34.19 million during the quarter, compared to analysts' expectations of $42.85 million. Altus Power had a negative net margin of 6.03% and a negative return on equity of 0.30%. Equities research analysts anticipate that Altus Power, Inc. will post -0.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AMPS has been the subject of a number of analyst reports. Morgan Stanley restated an "overweight" rating and set a $9.00 price objective on shares of Altus Power in a research report on Thursday. Roth Mkm cut their price target on shares of Altus Power from $8.00 to $7.00 and set a "buy" rating for the company in a report on Friday, March 15th. Maxim Group started coverage on Altus Power in a report on Wednesday. They issued a "buy" rating and a $7.00 price objective on the stock. Finally, B. Riley boosted their target price on Altus Power from $8.00 to $10.00 and gave the stock a "buy" rating in a research report on Monday, February 5th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Altus Power currently has an average rating of "Buy" and an average target price of $8.63.

Insider Activity at Altus Power

In other news, insider Anthony Savino sold 34,725 shares of the firm's stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $7.02, for a total value of $243,769.50. Following the completion of the transaction, the insider now owns 3,907,536 shares in the company, valued at $27,430,902.72. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Lars Norell sold 40,000 shares of the firm's stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $5.58, for a total transaction of $223,200.00. Following the completion of the transaction, the chief executive officer now directly owns 21,654,907 shares of the company's stock, valued at approximately $120,834,381.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Anthony Savino sold 34,725 shares of the company's stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $7.02, for a total value of $243,769.50. Following the completion of the sale, the insider now directly owns 3,907,536 shares in the company, valued at approximately $27,430,902.72. The disclosure for this sale can be found here. Insiders sold 83,673 shares of company stock valued at $530,948 in the last ninety days. Corporate insiders own 31.55% of the company's stock.

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.