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

IQ EQ FUND MANAGEMENT IRELAND Ltd trimmed its position in shares of Altus Power, Inc. (NYSE:AMPS) by 92.8% during the fourth quarter, HoldingsChannel reports. The firm owned 31,355 shares of the company’s stock after selling 402,587 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Altus Power were worth $128,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Intech Investment Management LLC acquired a new stake in Altus Power during the 3rd quarter worth $86,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Altus Power by 4.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 312,205 shares of the company’s stock worth $993,000 after purchasing an additional 14,492 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Altus Power by 798.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,508 shares of the company’s stock valued at $234,000 after purchasing an additional 65,327 shares in the last quarter. HighTower Advisors LLC acquired a new position in shares of Altus Power in the 3rd quarter valued at approximately $41,000. Finally, Janus Henderson Group PLC increased its stake in Altus Power by 9.0% during the 3rd quarter. Janus Henderson Group PLC now owns 44,792 shares of the company’s stock worth $142,000 after purchasing an additional 3,709 shares in the last quarter. 46.55% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Gregg J. Felton sold 71,161 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $4.91, for a total value of $349,400.51. Following the completion of the sale, the chief executive officer now directly owns 4,023,696 shares in the company, valued at approximately $19,756,347.36. This trade represents a 1.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Anthony Savino sold 8,823 shares of Altus Power 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 transaction, the insider now owns 4,088,231 shares of the company’s stock, valued at $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 valued at $437,707 in the last quarter. Company insiders own 24.30% of the company’s stock.

Altus Power Stock Performance

Shares of NYSE AMPS opened at $4.95 on Friday. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a 50 day moving average price of $4.63 and a 200 day moving average price of $4.01. The stock has a market capitalization of $793.28 million, a PE ratio of 22.48 and a beta of 0.98. Altus Power, Inc. has a 52 week low of $2.71 and a 52 week high of $5.50.

Altus Power (NYSE:AMPS) last released 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). Altus Power had a net margin of 19.18% and a return on equity of 4.79%. The firm had revenue of $44.47 million during the quarter, compared to the consensus estimate of $46.64 million. Analysts predict that Altus Power, Inc. will post 0.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AMPS has been the topic of a number of research reports. Roth Capital lowered shares of Altus Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. UBS Group cut shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price objective on the stock. in a research report on Monday, February 10th. B. Riley cut Altus Power from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $6.00 to $5.00 in a report on Friday, February 7th. JPMorgan Chase & Co. upgraded Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a report on Thursday, February 6th. Finally, Roth Mkm reiterated a “neutral” rating and set a $5.00 price objective on shares of Altus Power in a report on Friday, March 21st. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.