Swedbank AB Sells 1,808,518 Shares of Altus Power, Inc. (NYSE:AMPS)

Swedbank AB trimmed its holdings in Altus Power, Inc. (NYSE:AMPS) by 68.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 825,182 shares of the company’s stock after selling 1,808,518 shares during the quarter. Swedbank AB owned 0.51% of Altus Power worth $2,624,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Encompass Capital Advisors LLC lifted its position in Altus Power by 1.2% in the second quarter. Encompass Capital Advisors LLC now owns 4,628,613 shares of the company’s stock worth $18,144,000 after purchasing an additional 53,031 shares during the period. Dimensional Fund Advisors LP lifted its position in Altus Power by 37.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,974,269 shares of the company’s stock worth $11,662,000 after purchasing an additional 807,071 shares during the period. abrdn plc lifted its position in Altus Power by 8.7% in the third quarter. abrdn plc now owns 1,444,400 shares of the company’s stock worth $4,593,000 after purchasing an additional 115,300 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its position in Altus Power by 112.1% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,411,042 shares of the company’s stock worth $5,531,000 after purchasing an additional 745,810 shares during the period. Finally, Long Focus Capital Management LLC lifted its position in Altus Power by 427.6% in the second quarter. Long Focus Capital Management LLC now owns 549,081 shares of the company’s stock worth $2,152,000 after purchasing an additional 445,000 shares during the period. 46.55% of the stock is owned by institutional investors.

Altus Power Stock Performance

Altus Power stock opened at $4.36 on Thursday. The stock has a 50-day simple moving average of $3.46 and a 200 day simple moving average of $3.68. 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 12-month low of $2.71 and a 12-month high of $7.28. The stock has a market capitalization of $701.09 million, a price-to-earnings ratio of 19.82 and a beta of 0.94.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AMPS shares. Maxim Group reduced their target price on Altus Power from $5.50 to $4.50 and set a “buy” rating for the company in a research report on Monday, August 12th. Citigroup reduced their target price on Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. UBS Group reduced their target price on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Morgan Stanley downgraded shares of Altus Power from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $8.00 to $4.00 in a research note on Wednesday, August 21st. Finally, Roth Mkm restated a “buy” rating and issued a $4.50 target price on shares of Altus Power in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $5.81.

Altus Power 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.