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

Swedbank AB reduced its position in shares of Altus Power, Inc. (NYSE:AMPS) by 68.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 825,182 shares of the company’s stock after selling 1,808,518 shares during the quarter. Swedbank AB’s holdings in Altus Power were worth $2,624,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Summit Securities Group LLC bought a new stake in shares of Altus Power in the 2nd quarter valued at about $39,000. Iridian Asset Management LLC CT bought a new stake in shares of Altus Power in the 3rd quarter valued at about $40,000. Vaughan David Investments LLC IL bought a new stake in shares of Altus Power in the 2nd quarter valued at about $55,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Altus Power in the 2nd quarter valued at about $68,000. Finally, Intech Investment Management LLC bought a new stake in shares of Altus Power in the 3rd quarter valued at about $86,000. 46.55% of the stock is owned by institutional investors.

Altus Power Trading Up 3.3 %

NYSE:AMPS opened at $4.36 on Thursday. Altus Power, Inc. has a twelve month low of $2.71 and a twelve month high of $7.28. 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 business has a 50 day moving average price of $3.46 and a two-hundred day moving average price of $3.68. The company has a market cap of $701.09 million, a P/E ratio of 19.82 and a beta of 0.94.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Morgan Stanley cut Altus Power from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $8.00 to $4.00 in a research note on Wednesday, August 21st. Citigroup lowered their price target on Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Maxim Group decreased their price objective 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. UBS Group decreased their price objective on Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Roth Mkm reiterated a “buy” rating and issued a $4.50 price objective on shares of Altus Power in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $5.81.

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.