Telemark Asset Management LLC Has $3.05 Million Stock Position in Altus Power, Inc. (NYSE:AMPS)

Telemark Asset Management LLC lessened its position in Altus Power, Inc. (NYSE:AMPS) by 20.0% in the 3rd quarter, Holdings Channel reports. The fund owned 960,000 shares of the company’s stock after selling 240,000 shares during the period. Telemark Asset Management LLC’s holdings in Altus Power were worth $3,053,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund raised its position in Altus Power by 15.2% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 259,441 shares of the company’s stock valued at $1,240,000 after buying an additional 34,244 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Altus Power by 7.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,257 shares of the company’s stock valued at $212,000 after purchasing an additional 3,116 shares during the period. Janus Henderson Group PLC lifted its position in shares of Altus Power by 196.6% in the first quarter. Janus Henderson Group PLC now owns 68,309 shares of the company’s stock worth $326,000 after purchasing an additional 45,276 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Altus Power during the first quarter worth approximately $88,000. Finally, Levin Capital Strategies L.P. purchased a new position in Altus Power during the first quarter valued at approximately $143,000. Institutional investors and hedge funds own 46.55% of the company’s stock.

Altus Power Stock Up 2.8 %

Shares of Altus Power stock opened at $4.06 on Friday. 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 $652.81 million, a P/E ratio of 18.45 and a beta of 0.94. 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 50 day moving average price of $3.41 and a two-hundred day moving average price of $3.70.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Maxim Group decreased their target price on shares of Altus Power from $5.50 to $4.50 and set a “buy” rating for the company in a research note on Monday, August 12th. UBS Group reduced 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. Citigroup lowered their target price on Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Roth Mkm reaffirmed a “buy” rating and set a $4.50 price target on shares of Altus Power in a research note on Wednesday, October 16th. Finally, 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. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price 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.