IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 402,587 Shares of Altus Power, Inc. (NYSE:AMPS)

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its stake in shares of Altus Power, Inc. (NYSE:AMPS) by 92.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,355 shares of the company’s stock after selling 402,587 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Altus Power were worth $128,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. US Bancorp DE grew its stake in Altus Power by 11,326.2% in the 4th quarter. US Bancorp DE now owns 9,598 shares of the company’s stock valued at $39,000 after buying an additional 9,514 shares during the last quarter. HighTower Advisors LLC bought a new stake in Altus Power during the third quarter valued at about $41,000. Citizens Financial Group Inc. RI acquired a new stake in shares of Altus Power in the fourth quarter valued at about $41,000. KLP Kapitalforvaltning AS bought a new position in shares of Altus Power in the fourth quarter worth about $53,000. Finally, Intech Investment Management LLC acquired a new position in shares of Altus Power during the 3rd quarter worth about $86,000. Institutional investors and hedge funds own 46.55% of the company’s stock.

Altus Power Stock Performance

Shares of Altus Power stock opened at $4.95 on Friday. 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 firm has a 50 day simple moving average of $4.63 and a 200 day simple moving average of $4.01. Altus Power, Inc. has a fifty-two week low of $2.71 and a fifty-two week high of $5.50. The firm has a market cap of $793.28 million, a P/E ratio of 22.48 and a beta of 0.98.

Altus Power (NYSE:AMPS) last announced its quarterly earnings data on Monday, March 17th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The firm had revenue of $44.47 million during the quarter, compared to the consensus estimate of $46.64 million. Altus Power had a net margin of 19.18% and a return on equity of 4.79%. Sell-side analysts predict that Altus Power, Inc. will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Altus Power news, insider Anthony Savino sold 8,823 shares of Altus Power stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total transaction of $43,320.93. Following the completion of the sale, the insider now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregg J. Felton sold 71,161 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total transaction of $349,400.51. Following the sale, the chief executive officer now owns 4,023,696 shares of the company’s stock, valued at $19,756,347.36. The trade was a 1.74 % 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 over the last three months. 24.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AMPS. JPMorgan Chase & Co. upgraded shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a research note on Thursday, February 6th. UBS Group downgraded shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price objective on the stock. in a report on Monday, February 10th. Roth Capital cut shares of Altus Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. Roth Mkm restated a “neutral” rating and set a $5.00 price target on shares of Altus Power in a research note on Friday, March 21st. Finally, B. Riley downgraded Altus Power from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $6.00 to $5.00 in a research report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $5.13.

Altus Power Company Profile

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.