State Street Corp Purchases 21,312 Shares of Altus Power, Inc. (NYSE:AMPS)

State Street Corp increased its position in shares of Altus Power, Inc. (NYSE:AMPS) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,682,864 shares of the company’s stock after acquiring an additional 21,312 shares during the period. State Street Corp’s holdings in Altus Power were worth $11,712,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in AMPS. Bank of New York Mellon Corp boosted its holdings in shares of Altus Power by 25.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 242,455 shares of the company’s stock valued at $950,000 after purchasing an additional 48,608 shares in the last quarter. Bailard Inc. bought a new position in Altus Power in the second quarter valued at about $114,000. Rhumbline Advisers raised its stake in Altus Power by 16.1% during the second quarter. Rhumbline Advisers now owns 145,233 shares of the company’s stock worth $569,000 after acquiring an additional 20,175 shares in the last quarter. Vaughan David Investments LLC IL bought a new position in shares of Altus Power in the second quarter worth about $55,000. Finally, American Century Companies Inc. grew its holdings in shares of Altus Power by 14.3% during the 2nd quarter. American Century Companies Inc. now owns 72,322 shares of the company’s stock valued at $284,000 after purchasing an additional 9,062 shares during the last quarter. 46.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on AMPS shares. Roth Mkm reaffirmed a “buy” rating and set a $4.50 target price on shares of Altus Power in a research note on Wednesday, October 16th. JPMorgan Chase & Co. cut Altus Power from a “neutral” rating to an “underweight” rating in a report on Thursday, December 12th. Finally, Citigroup cut their price target on Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. One research 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 company’s stock. According to MarketBeat, Altus Power has a consensus rating of “Moderate Buy” and an average target price of $5.21.

Altus Power Price Performance

Shares of AMPS opened at $4.12 on Thursday. The business has a 50-day moving average of $3.78 and a 200-day moving average of $3.67. 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 company has a market capitalization of $662.48 million, a price-to-earnings ratio of 18.73 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.

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.