Taking a look at what insiders are doing to gauge the Altus Power Inc. (AMPS)’s direction

CHWY Stock
CHWY Stock

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Altus Power Inc. shares valued at $11,560,500 were sold by GSO Altus Holdings LP on Oct 03. At $11.01 per share, GSO Altus Holdings LP sold 1,050,000 shares. The insider’s holdings dropped to 20,775,125 shares worth approximately $181.99 million following the completion of this transaction.

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Also, GSO Altus Holdings LP sold 7,000,000 shares, netting a total of over 77,070,000 in proceeds. Following the sale of shares at $11.01 each, the insider now holds 21,825,125 shares.

As published in their initiating research note from UBS on October 25, 2022, Altus Power Inc. [AMPS] has been a Buy and the price target has been revised to $14. This represents a 37.43% premium over Thursday’s closing price. Analysts at JP Morgan started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid July. As of July 08, 2022, Citigroup has decreased its “Buy” rating to a “Neutral” for AMPS. Earlier on April 07, 2022, Morgan Stanley initiated its rating. Their recommendation was “an Equal-weight” for AMPS stock.

Analyzing AMPS Stock Performance

On Thursday, Altus Power Inc. [NYSE: AMPS] plunged -2.01% to $8.76. The stock’s lowest price that day was $8.74, but it reached a high of $9.42 in the same session. During the last five days, there has been a drop of approximately -9.78%. Over the course of the year, Altus Power Inc. shares have dropped approximately -16.17%. Shares of the company reached a 52-week high of $14.72 on 09/28/22 and a 52-week low of $4.26 on 05/12/22. A 50-day SMA is recorded $10.88, while a 200-day SMA reached $8.19. Nevertheless, trading volume fell to 0.93 million shares from 0.66 million shares the previous day.

Support And Resistance Levels for Altus Power Inc. (AMPS)

According to the 24-hour chart, there is a support level at 8.53, which, if violated, would cause prices to drop to 8.29. In the upper region, resistance lies at 9.21. The next price resistance is at 9.65. RSI (Relative Strength Index) is 36.69 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.67, which suggests the price will decrease in the coming days. Percent R is at 96.56%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Which companies own the most shares of Altus Power Inc. (AMPS)?

According to Blackstone Alternative Credit Adv filings, the company currently owns 20,775,125 shares, which is about 13.42% of the total AMPS shares outstanding. The investor’s shares have plunged by -8,050,000 from its previous 13-F filing of 28825125.0 shares. With the completion of the buy transaction, ValueAct Capital Management LP’s stake is now worth $44,096,239. A total of 2,293,292 shares of Altus Power Inc. were bought by Invesco Capital Management LLC during the quarter, and 0 by Kensico Capital Management Corp. In its current portfolio, Healthcare of Ontario Pension Pla holds 1,750,000 shares valued at $19.27 million.

In terms of Altus Power Inc. share price expectations, FactSet research, analysts set an average price target of $13.60 in the next 12 months, up nearly 56.6% from the previous closing price of $8.94. Analysts anticipate Altus Power Inc. stock to reach $15.00 by 2022, with the lowest price target being $10.00. In spite of this, 5 analysts ranked Altus Power Inc. stock as an Overweight at the end of 2022. On January 04, 2022, Citigroup assigned a price target of “a Buy” to the stock and initiated coverage with a $13.


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