Handelsbanken Fonder AB Takes $5.30 Million Position in Altus Power, Inc. (NYSE:AMPS)

Handelsbanken Fonder AB purchased a new position in Altus Power, Inc. (NYSE:AMPS - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 775,763 shares of the company's stock, valued at approximately $5,298,000. Handelsbanken Fonder AB owned 0.48% of Altus Power at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Altus Power by 7.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,933 shares of the company's stock valued at $267,000 after purchasing an additional 3,571 shares during the period. AXQ Capital LP raised its position in shares of Altus Power by 25.5% during the 3rd quarter. AXQ Capital LP now owns 21,078 shares of the company's stock valued at $111,000 after purchasing an additional 4,278 shares during the period. Bouvel Investment Partners LLC raised its position in shares of Altus Power by 1.5% during the 4th quarter. Bouvel Investment Partners LLC now owns 297,378 shares of the company's stock valued at $2,031,000 after purchasing an additional 4,495 shares during the period. ANTIPODES PARTNERS Ltd raised its position in shares of Altus Power by 18.0% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 30,082 shares of the company's stock valued at $205,000 after purchasing an additional 4,579 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Altus Power by 2.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 202,360 shares of the company's stock valued at $1,062,000 after purchasing an additional 4,864 shares during the period. 46.55% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Lars Norell sold 40,000 shares of Altus Power stock in a transaction dated 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Lars Norell sold 40,000 shares of Altus Power stock in a transaction dated 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gregg J. Felton purchased 12,500 shares of the company's stock in a transaction that occurred on Thursday, March 28th. The shares were purchased at an average cost of $4.78 per share, with a total value of $59,750.00. Following the completion of the purchase, the chief executive officer now owns 11,894,603 shares in the company, valued at approximately $56,856,202.34. The disclosure for this purchase can be found here. Insiders sold 83,673 shares of company stock valued at $530,948 in the last three months. Corporate insiders own 24.30% of the company's stock.

Analysts Set New Price Targets

AMPS has been the topic of several recent analyst reports. B. Riley decreased their price objective on shares of Altus Power from $10.00 to $7.00 and set a "buy" rating on the stock in a research report on Monday. Roth Mkm reduced their price target on shares of Altus Power from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Friday, March 15th. Morgan Stanley reiterated an "overweight" rating and issued a $9.00 price target on shares of Altus Power in a report on Thursday, April 11th. Finally, Maxim Group began coverage on shares of Altus Power in a report on Wednesday, April 10th. They issued a "buy" rating and a $7.00 price target on the stock. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $8.25.

Altus Power Stock Performance

Shares of NYSE:AMPS traded up $0.02 on Friday, reaching $3.62. The company's stock had a trading volume of 868,959 shares, compared to its average volume of 1,103,901. Altus Power, Inc. has a 52-week low of $3.40 and a 52-week high of $7.28. The company has a 50-day simple moving average of $5.28 and a 200 day simple moving average of $5.54. The company has a debt-to-equity ratio of 2.33, a quick ratio of 2.15 and a current ratio of 2.15.

Altus Power (NYSE:AMPS - Get Free Report) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.02). Altus Power had a negative return on equity of 0.30% and a negative net margin of 6.03%. The business had revenue of $34.19 million during the quarter, compared to analysts' expectations of $42.85 million. As a group, analysts forecast that Altus Power, Inc. will post -0.11 EPS for the current fiscal year.

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.