Insider Selling: Altus Power, Inc. (NYSE:AMPS) CEO Sells $349,400.51 in Stock

Altus Power, Inc. (NYSE:AMPS) CEO Gregg J. Felton sold 71,161 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total value of $349,400.51. Following the completion of the transaction, the chief executive officer now directly owns 4,023,696 shares in the company, valued at $19,756,347.36. This trade represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Altus Power Stock Up 0.1 %

NYSE AMPS opened at $4.93 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10. Altus Power, Inc. has a fifty-two week low of $2.71 and a fifty-two week high of $7.01. The business has a 50 day moving average price of $4.24 and a two-hundred day moving average price of $3.72. The stock has a market cap of $791.92 million, a PE ratio of 22.39 and a beta of 1.05.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Seaport Res Ptn lowered Altus Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. raised shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a research report on Thursday, February 6th. B. Riley cut shares of Altus Power from a “buy” rating to a “neutral” rating and reduced their price target for the company from $6.00 to $5.00 in a research report on Friday, February 7th. Finally, UBS Group downgraded shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price objective for the company. in a research note on Monday, February 10th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $5.06.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AMPS. Encompass Capital Advisors LLC increased its stake in Altus Power by 20.0% during the 4th quarter. Encompass Capital Advisors LLC now owns 8,027,318 shares of the company’s stock worth $32,671,000 after buying an additional 1,336,044 shares during the period. Quinn Opportunity Partners LLC acquired a new stake in shares of Altus Power during the fourth quarter valued at about $1,887,000. Millennium Management LLC increased its position in shares of Altus Power by 148.3% during the fourth quarter. Millennium Management LLC now owns 652,278 shares of the company’s stock worth $2,655,000 after acquiring an additional 389,605 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Altus Power by 7.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,648,599 shares of the company’s stock worth $14,850,000 after acquiring an additional 263,393 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Altus Power in the third quarter worth about $425,000. 46.55% of the stock is currently owned by hedge funds and other institutional investors.

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.