Telemark Asset Management LLC Has $3.70 Million Stock Holdings in Altus Power, Inc. (NYSE:AMPS)

Telemark Asset Management LLC trimmed its position in Altus Power, Inc. (NYSE:AMPS) by 5.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 910,000 shares of the company’s stock after selling 50,000 shares during the period. Telemark Asset Management LLC’s holdings in Altus Power were worth $3,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Magnus Financial Group LLC acquired a new position in Altus Power in the 4th quarter valued at $333,000. Barclays PLC grew its holdings in Altus Power by 312.8% in the 3rd quarter. Barclays PLC now owns 115,987 shares of the company’s stock valued at $369,000 after buying an additional 87,886 shares in the last quarter. Ballentine Partners LLC acquired a new position in Altus Power in the 4th quarter valued at $112,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Altus Power by 798.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,508 shares of the company’s stock valued at $234,000 after buying an additional 65,327 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in Altus Power in the 3rd quarter valued at $425,000. 46.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Altus Power news, CFO Dustin Weber sold 9,162 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $4.91, for a total value of $44,985.42. Following the completion of the transaction, the chief financial officer now owns 2,002,611 shares of the company’s stock, valued at $9,832,820.01. This represents a 0.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Anthony Savino sold 8,823 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $4.91, for a total value of $43,320.93. Following the completion of the transaction, the insider now directly owns 4,088,231 shares of the company’s stock, valued at approximately $20,073,214.21. The trade was a 0.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,146 shares of company stock worth $437,707 in the last ninety days. 24.30% of the stock is owned by insiders.

Altus Power Price Performance

Shares of AMPS stock 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 twelve month low of $2.71 and a twelve month high of $6.24. The company has a market cap of $791.92 million, a P/E ratio of 22.39 and a beta of 0.98. The business has a fifty day simple moving average of $4.43 and a 200 day simple moving average of $3.86.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. UBS Group downgraded Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 target price for the company. in a research report on Monday, February 10th. JPMorgan Chase & Co. upgraded 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 downgraded Altus Power from a “buy” rating to a “neutral” rating and cut their target price for the company from $6.00 to $5.00 in a research report on Friday, February 7th. Finally, Seaport Res Ptn downgraded Altus Power from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.06.

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.