Intech Investment Management LLC Invests $86,000 in Altus Power, Inc. (NYSE:AMPS)

Intech Investment Management LLC acquired a new stake in shares of Altus Power, Inc. (NYSE:AMPS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 27,103 shares of the company’s stock, valued at approximately $86,000.

Several other hedge funds have also recently made changes to their positions in AMPS. Summit Securities Group LLC purchased a new stake in Altus Power during the 2nd quarter valued at $39,000. Iridian Asset Management LLC CT bought a new stake in shares of Altus Power during the 3rd quarter worth approximately $40,000. Vaughan David Investments LLC IL bought a new stake in shares of Altus Power during the 2nd quarter worth approximately $55,000. Susquehanna Fundamental Investments LLC purchased a new stake in Altus Power in the second quarter worth $68,000. Finally, SG Americas Securities LLC lifted its position in shares of Altus Power by 135.9% during the third quarter. SG Americas Securities LLC now owns 30,146 shares of the company’s stock worth $96,000 after purchasing an additional 17,368 shares during the last quarter. 46.55% of the stock is currently owned by hedge funds and other institutional investors.

Altus Power Price Performance

NYSE AMPS opened at $4.00 on Monday. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.60 and a quick ratio of 0.60. The stock’s fifty day moving average price is $3.58 and its 200 day moving average price is $3.68. The company has a market cap of $643.20 million, a price-to-earnings ratio of 18.18 and a beta of 1.04. Altus Power, Inc. has a 1 year low of $2.71 and a 1 year high of $7.28.

Wall Street Analyst Weigh In

AMPS has been the topic of a number of research analyst reports. Morgan Stanley downgraded shares of Altus Power from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $8.00 to $4.00 in a research note on Wednesday, August 21st. Citigroup reduced their target price on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Roth Mkm restated a “buy” rating and issued a $4.50 price target on shares of Altus Power in a report on Wednesday, October 16th. Finally, Maxim Group reduced 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. Two investment 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $5.21.

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.