Hsbc Holdings PLC Sells 3,401 Shares of Altus Power, Inc. (NYSE:AMPS)

Hsbc Holdings PLC lessened its position in shares of Altus Power, Inc. (NYSE:AMPS) by 21.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,646 shares of the company’s stock after selling 3,401 shares during the period. Hsbc Holdings PLC’s holdings in Altus Power were worth $52,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Stifel Financial Corp bought a new position in Altus Power during the 4th quarter worth about $57,000. MetLife Investment Management LLC grew its holdings in shares of Altus Power by 45.8% in the 4th quarter. MetLife Investment Management LLC now owns 47,653 shares of the company’s stock valued at $194,000 after acquiring an additional 14,962 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Altus Power in the 4th quarter valued at about $496,000. Dimensional Fund Advisors LP grew its holdings in shares of Altus Power by 7.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,648,599 shares of the company’s stock valued at $14,850,000 after acquiring an additional 263,393 shares in the last quarter. Finally, XTX Topco Ltd grew its holdings in shares of Altus Power by 32.0% in the 4th quarter. XTX Topco Ltd now owns 176,369 shares of the company’s stock valued at $718,000 after acquiring an additional 42,765 shares in the last quarter. Institutional investors own 46.55% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Roth Capital downgraded shares of Altus Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. Roth Mkm reiterated a “neutral” rating and issued a $5.00 target price on shares of Altus Power in a research note on Friday, March 21st. UBS Group downgraded shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 target price for the company. in a research note on Monday, February 10th. Seaport Res Ptn downgraded shares of Altus Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $5.13.

Altus Power Stock Down 0.1%

NYSE AMPS opened at $5.00 on Tuesday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.10. Altus Power, Inc. has a 1-year low of $2.71 and a 1-year high of $5.00. The company has a 50 day moving average of $4.97 and a 200-day moving average of $4.41. The company has a market cap of $801.30 million, a price-to-earnings ratio of 22.70 and a beta of 0.94.

Altus Power (NYSE:AMPS) last released its quarterly earnings results on Monday, March 17th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). Altus Power had a net margin of 19.18% and a return on equity of 4.79%. The business had revenue of $44.47 million during the quarter, compared to analyst estimates of $46.64 million. On average, equities research analysts expect that Altus Power, Inc. will post 0.14 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Gregg J. Felton sold 71,161 shares of Altus Power stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total value of $349,400.51. Following the transaction, the chief executive officer now directly owns 4,023,696 shares of the company’s stock, valued at $19,756,347.36. This trade represents a 1.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Anthony Savino sold 29,748 shares of Altus Power stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $4.96, for a total transaction of $147,550.08. Following the completion of the transaction, the insider now directly owns 4,030,459 shares in the company, valued at $19,991,076.64. This trade represents a 0.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 221,422 shares of company stock worth $1,093,796. Corporate insiders own 24.30% of the company’s stock.

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.