276,677 Shares in Altus Power, Inc. (NYSE:AMPS) Purchased by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. bought a new stake in shares of Altus Power, Inc. (NYSE:AMPS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 276,677 shares of the company’s stock, valued at approximately $1,085,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMPS. Swedbank AB bought a new stake in shares of Altus Power in the first quarter valued at approximately $12,589,000. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in Altus Power by 78.8% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 437,286 shares of the company’s stock worth $1,714,000 after acquiring an additional 192,687 shares during the period. Edmond DE Rothschild Holding S.A. raised its stake in Altus Power by 38.4% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 428,963 shares of the company’s stock valued at $2,050,000 after purchasing an additional 118,963 shares during the last quarter. Bouvel Investment Partners LLC boosted its holdings in Altus Power by 2.8% in the 1st quarter. Bouvel Investment Partners LLC now owns 305,673 shares of the company’s stock valued at $1,461,000 after purchasing an additional 8,295 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in Altus Power by 15.2% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 259,441 shares of the company’s stock worth $1,240,000 after purchasing an additional 34,244 shares during the last quarter. Institutional investors and hedge funds own 46.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AMPS shares. Roth Mkm cut their price objective on shares of Altus Power from $5.00 to $4.50 and set a “buy” rating for the company in a research report on Friday, August 9th. Seaport Res Ptn raised Altus Power to a “strong-buy” rating in a report on Monday, June 3rd. UBS Group decreased their price objective on Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Maxim Group cut their target price on Altus Power from $5.50 to $4.50 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, B. Riley upgraded shares of Altus Power to a “strong-buy” rating in a research note on Tuesday, June 25th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Altus Power presently has a consensus rating of “Buy” and an average price target of $6.00.

Altus Power Price Performance

Altus Power stock opened at $3.36 on Friday. The business has a 50 day simple moving average of $3.59 and a 200 day simple moving average of $4.20. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $540.25 million, a PE ratio of -67.19 and a beta of 0.96. Altus Power, Inc. has a one year low of $2.80 and a one year high of $7.28.

Altus Power (NYSE:AMPS) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.13. Altus Power had a return on equity of 2.52% and a net margin of 13.55%. The company had revenue of $52.46 million during the quarter, compared to analysts’ expectations of $57.61 million. On average, sell-side analysts forecast that Altus Power, Inc. will post 0.08 EPS for the current fiscal 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.