IQ EQ FUND MANAGEMENT IRELAND Ltd Lowers Holdings in Altus Power, Inc. (NYSE:AMPS)

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its stake in shares of Altus Power, Inc. (NYSE:AMPS) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 433,942 shares of the company’s stock after selling 3,344 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd owned about 0.27% of Altus Power worth $1,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Summit Securities Group LLC purchased a new stake in shares of Altus Power in the second quarter worth about $39,000. Vaughan David Investments LLC IL bought a new position in shares of Altus Power during the 2nd quarter valued at approximately $55,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Altus Power in the second quarter valued at $68,000. Jacobs Levy Equity Management Inc. bought a new stake in Altus Power in the first quarter worth $88,000. Finally, SG Americas Securities LLC raised its stake in Altus Power by 135.9% during the third quarter. SG Americas Securities LLC now owns 30,146 shares of the company’s stock valued at $96,000 after purchasing an additional 17,368 shares in the last quarter. Institutional investors own 46.55% of the company’s stock.

Analyst Upgrades and Downgrades

AMPS has been the topic of a number of research reports. Morgan Stanley downgraded shares of Altus Power from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $8.00 to $4.00 in a report on Wednesday, August 21st. UBS Group decreased their price objective on Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Maxim Group cut their price target on Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a research note on Monday, August 12th. B. Riley raised Altus Power to a “strong-buy” rating in a research report on Tuesday, June 25th. Finally, Roth Mkm reissued a “buy” rating and issued a $4.50 price target on shares of Altus Power in a research report on Wednesday. Two analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Altus Power currently has a consensus rating of “Buy” and a consensus target price of $6.00.

Altus Power Trading Down 4.3 %

Shares of Altus Power stock opened at $3.60 on Friday. The stock has a market cap of $578.42 million, a PE ratio of -72.00 and a beta of 0.96. The firm has a fifty day moving average price of $3.15 and a 200 day moving average price of $3.79. Altus Power, Inc. has a 1 year low of $2.71 and a 1 year high of $7.28. 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 released its quarterly earnings data on Thursday, August 8th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.13. Altus Power had a return on equity of 2.52% and a net margin of 13.55%. The business had revenue of $52.46 million during the quarter, compared to analyst estimates of $57.61 million. Equities research analysts predict that Altus Power, Inc. will post 0.08 earnings per share for the current year.

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.