UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stock Position in Altus Power, Inc. (NYSE:AMPS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in shares of Altus Power, Inc. (NYSE:AMPS) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 301,788 shares of the company’s stock after selling 8,169 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Altus Power were worth $960,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Summit Securities Group LLC purchased a new stake in Altus Power during the 2nd quarter valued at $39,000. Iridian Asset Management LLC CT purchased a new position in Altus Power in the third quarter worth about $40,000. Vaughan David Investments LLC IL bought a new stake in shares of Altus Power during the 2nd quarter valued at about $55,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Altus Power in the 2nd quarter worth approximately $68,000. Finally, Intech Investment Management LLC purchased a new position in shares of Altus Power in the third quarter worth approximately $86,000. Institutional investors own 46.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AMPS shares. Morgan Stanley cut shares of Altus Power from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $8.00 to $4.00 in a report on Wednesday, August 21st. JPMorgan Chase & Co. downgraded Altus Power from a “neutral” rating to an “underweight” rating in a research report on Thursday, December 12th. Citigroup cut their price target on Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Finally, Roth Mkm reaffirmed a “buy” rating and set a $4.50 price objective on shares of Altus Power in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.21.

Altus Power Price Performance

NYSE:AMPS opened at $3.60 on Thursday. The business’s 50-day simple moving average is $3.70 and its two-hundred day simple moving average is $3.68. Altus Power, Inc. has a 52 week low of $2.71 and a 52 week high of $7.28. The stock has a market cap of $578.87 million, a PE ratio of 16.36 and a beta of 1.04. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10.

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.