Long Focus Capital Management LLC Boosts Holdings in Altus Power, Inc. (NYSE:AMPS)

Long Focus Capital Management LLC raised its position in Altus Power, Inc. (NYSE:AMPS) by 427.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 549,081 shares of the company’s stock after purchasing an additional 445,000 shares during the period. Long Focus Capital Management LLC’s holdings in Altus Power were worth $2,152,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Encompass Capital Advisors LLC grew its position in Altus Power by 1.2% during the second quarter. Encompass Capital Advisors LLC now owns 4,628,613 shares of the company’s stock worth $18,144,000 after buying an additional 53,031 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Altus Power by 37.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,974,269 shares of the company’s stock worth $11,662,000 after buying an additional 807,071 shares during the last quarter. Swedbank AB bought a new stake in shares of Altus Power during the 1st quarter worth $12,589,000. Skandinaviska Enskilda Banken AB publ grew its position in Altus Power by 112.1% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,411,042 shares of the company’s stock worth $5,531,000 after acquiring an additional 745,810 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in Altus Power by 78.8% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 437,286 shares of the company’s stock valued at $1,714,000 after acquiring an additional 192,687 shares during the last quarter. 46.55% of the stock is currently owned by hedge funds and other institutional investors.

Altus Power Stock Performance

Altus Power stock opened at $3.25 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.18. The firm has a market cap of $521.76 million, a P/E ratio of -64.89 and a beta of 0.96. Altus Power, Inc. has a 1-year low of $2.80 and a 1-year high of $7.28. The firm has a 50-day moving average of $3.40 and a 200-day moving average of $3.99.

Altus Power (NYSE:AMPS) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.13. The company had revenue of $52.46 million during the quarter, compared to analyst estimates of $57.61 million. Altus Power had a return on equity of 2.52% and a net margin of 13.55%. Sell-side analysts expect that Altus Power, Inc. will post 0.08 EPS for the current year.

Wall Street Analyst Weigh In

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

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.