The Manufacturers Life Insurance Company Increases Position in Altus Power, Inc. (NYSE:AMPS)

The Manufacturers Life Insurance Company grew its holdings in shares of Altus Power, Inc. (NYSE:AMPS) by 24.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 31,771 shares of the company’s stock after purchasing an additional 6,209 shares during the period. The Manufacturers Life Insurance Company’s holdings in Altus Power were worth $125,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMPS. Summit Securities Group LLC purchased a new stake in shares of Altus Power in the second quarter worth $39,000. Vaughan David Investments LLC IL bought a new position in shares of Altus Power in the second quarter worth approximately $55,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Altus Power during the first quarter valued at approximately $88,000. Bailard Inc. bought a new stake in shares of Altus Power during the second quarter valued at approximately $114,000. Finally, Levin Capital Strategies L.P. purchased a new position in Altus Power in the 1st quarter worth approximately $143,000. Institutional investors own 46.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMPS. Maxim Group decreased their price target 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. UBS Group decreased their price objective on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a report on Friday, August 9th. Morgan Stanley downgraded shares of Altus Power from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $8.00 to $4.00 in a research report on Wednesday, August 21st. B. Riley raised Altus Power to a “strong-buy” rating in a report on Tuesday, June 25th. Finally, Roth Mkm reiterated a “buy” rating and set a $4.50 price objective on shares of Altus Power in a research report on Wednesday. Two equities research 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, the company has an average rating of “Buy” and an average price target of $6.00.

Altus Power Trading Up 0.6 %

NYSE:AMPS opened at $3.62 on Friday. Altus Power, Inc. has a one year low of $2.71 and a one year high of $7.28. The business has a fifty day moving average price of $3.16 and a 200-day moving average price of $3.78. The firm has a market capitalization of $581.63 million, a price-to-earnings ratio of -72.40 and a beta of 0.96. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.91 and a quick ratio of 0.91.

Altus Power (NYSE:AMPS) last issued 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 business had revenue of $52.46 million during 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%. Sell-side analysts forecast that Altus Power, Inc. will post 0.08 EPS for the current year.

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.