Bayesian Capital Management LP Makes New $44,000 Investment in Altus Power, Inc. (NYSE:AMPS)

Bayesian Capital Management LP acquired a new stake in shares of Altus Power, Inc. (NYSE:AMPS) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 10,922 shares of the company’s stock, valued at approximately $44,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE grew its stake in shares of Altus Power by 11,326.2% in the 4th quarter. US Bancorp DE now owns 9,598 shares of the company’s stock worth $39,000 after purchasing an additional 9,514 shares during the last quarter. SevenBridge Financial Group LLC acquired a new position in Altus Power in the fourth quarter worth approximately $41,000. Citizens Financial Group Inc. RI bought a new position in shares of Altus Power in the fourth quarter valued at $41,000. One68 Global Capital LLC acquired a new stake in shares of Altus Power during the 4th quarter valued at $41,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of Altus Power during the 4th quarter worth $49,000. Institutional investors own 46.55% of the company’s stock.

Insider Activity at Altus Power

In related news, CFO Dustin Weber sold 9,162 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total value of $44,985.42. Following the transaction, the chief financial officer now directly owns 2,002,611 shares of the company’s stock, valued at approximately $9,832,820.01. This trade represents a 0.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregg J. Felton sold 71,161 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly 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. Over the last quarter, insiders have sold 221,422 shares of company stock valued at $1,093,796. 24.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AMPS shares. Roth Capital downgraded Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. JPMorgan Chase & Co. upgraded shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a report on Thursday, February 6th. Seaport Res Ptn lowered shares of Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. Roth Mkm reaffirmed a “neutral” rating and issued a $5.00 price objective on shares of Altus Power in a research note on Friday, March 21st. Finally, B. Riley downgraded shares of 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 note on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $5.13.

Altus Power Trading Down 0.1 %

Altus Power stock opened at $5.00 on Friday. Altus Power, Inc. has a 12 month low of $2.71 and a 12 month high of $5.50. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10. The stock has a market cap of $801.30 million, a P/E ratio of 22.70 and a beta of 0.94. The company’s fifty day simple moving average is $4.97 and its 200-day simple moving average is $4.38.

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

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.