Decade Renewable Partners LP Sells 150,000 Shares of Altus Power, Inc. (NYSE:AMPS)

Decade Renewable Partners LP lowered its holdings in shares of Altus Power, Inc. (NYSE:AMPS) by 18.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 644,402 shares of the company’s stock after selling 150,000 shares during the period. Altus Power comprises 1.2% of Decade Renewable Partners LP’s portfolio, making the stock its 25th largest holding. Decade Renewable Partners LP owned approximately 0.40% of Altus Power worth $2,526,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Swedbank AB bought a new position in shares of Altus Power during the 1st quarter worth approximately $12,589,000. Dimensional Fund Advisors LP lifted its holdings in shares of Altus Power by 37.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,974,269 shares of the company’s stock valued at $11,662,000 after acquiring an additional 807,071 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Altus Power by 112.1% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,411,042 shares of the company’s stock valued at $5,531,000 after purchasing an additional 745,810 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Altus Power in the 2nd quarter worth about $1,085,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in shares of Altus Power by 78.8% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 437,286 shares of the company’s stock worth $1,714,000 after purchasing an additional 192,687 shares during the last quarter. Institutional investors own 46.55% of the company’s stock.

Altus Power Stock Down 6.9 %

Shares of AMPS opened at $3.10 on Thursday. The business’s fifty day moving average price is $3.42 and its two-hundred day moving average price is $4.00. The firm has a market capitalization of $498.45 million, a price-to-earnings ratio of -61.99 and a beta of 0.96. Altus Power, Inc. has a 52 week low of $2.80 and a 52 week high of $7.28. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.91 and a current ratio of 0.91.

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. UBS Group reduced their price target on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Seaport Res Ptn upgraded Altus Power to a “strong-buy” rating in a research report on Monday, June 3rd. Roth Mkm dropped their price target on Altus Power from $5.00 to $4.50 and set a “buy” rating for the company in a report on Friday, August 9th. Morgan Stanley lowered Altus Power from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $8.00 to $4.00 in a research note on Wednesday, August 21st. Finally, B. Riley upgraded Altus Power to a “strong-buy” rating in a research note on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Altus Power has an average rating of “Buy” and a consensus target price of $6.00.

Altus Power 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.