10% Owner, GSO Altus Holdings LP sold 1,050,000 shares of Altus Power Inc. [AMPS]


Altus Power Inc.’s filing revealed that its 10% Owner GSO Altus Holdings LP unloaded Company’s shares for reported $11.56 million on Oct 03. In the deal valued at $11.01 per share,1,050,000 shares were sold. As a result of this transaction, GSO Altus Holdings LP now holds 20,775,125 shares worth roughly $ 159.55 million.

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Then, GSO Altus Holdings LP sold 7,000,000 shares, generating $77,070,000 in total proceeds. Upon selling the shares at $11.01, the 10% Owner now owns 21,825,125 shares.

UBS initiated its Altus Power Inc. [AMPS] rating to a Buy in a research note published on Monday, October 25, 2022; the price target was $14. PT values the company’s stock at a premium of 45.14 to its Monday closing price. A number of analysts have revised their coverage, including JP Morgan’s analysts, who began to cover the stock in mid July with a ‘”a Neutral”‘ rating. Citigroup also remained covering AMPS and has decreased its forecast on July 08, 2022 with a “Neutral” recommendation from previously “Buy” rating. Morgan Stanley started covering the stock on April 07, 2022. It rated AMPS as “an Equal-weight”.

Price Performance Review of AMPS

On Monday, Altus Power Inc. [NYSE:AMPS] saw its stock fall -2.78% to $7.68. On the same session, the stock had its day’s lowest price of $7.64, but rose to a high of $8.12. Over the last five days, the stock has lost -22.89%. Altus Power Inc. shares have fallen nearly -26.51% since the year began. Nevertheless, the stocks have fallen -25.04% over the past one year. While a 52-week high of $14.72 was reached on 09/28/22, a 52-week low of $4.26 was recorded on 05/12/22. SMA at 50 days reached $10.75, while 200 days put it at $8.19. A total of 0.84 million shares were traded, compared to the trading of 0.91 million shares in the previous session.

Levels Of Support And Resistance For AMPS Stock

The 24-hour chart illustrates a support level at 7.51, which if violated will result in even more drops to 7.33. On the upside, there is a resistance level at 7.99. A further resistance level may holdings at 8.29. The Relative Strength Index (RSI) on the 14-day chart is 30.04, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.11, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 98.80%. Stochastics %K at 1.75% indicates the stock is a buying.

Altus Power Inc. [AMPS] – Who Are The Largest Shareholders?

In filings from Blackstone Alternative Credit Adv, it is revealed that the company now owns 20,775,125 shares, or roughly 13.42% of the outstanding AMPS shares. In other words, the investor’s shares have fallen by -8,050,000 from its previous 13-F filing of 28825125.0. Additionally, ValueAct Capital Management LP increased 0.13% of its stake after which the total value it holdings stand at $44,096,239. Over the last quarter, BlackRock Fund Advisors purchased 2,064,568 shares of Altus Power Inc., while Invesco Capital Management LLC bought 2,293,292 shares. At present, Kensico Capital Management Corp. is holding 1,925,500 shares valued at $21.2 million. Healthcare of Ontario Pension Pla owned 1,750,000 shares of the company at the time of its most recent 13F filing, worth $19.27 million.

According to FactSet, Altus Power Inc.’s share price will average $13.60 in the next year, based on opinions of analysts polled by the firm. This is up nearly 77.22 percent from its previous closing price of $7.90. Analysts expect Altus Power Inc. stock to reach the higher price of $15.00, while the lowest price estimate is $10.00. However, 5 analysts have rated AMPS stock as an Overweight in their predictions for 2022. The most recent change occurred on January 04, 2022 when Citigroup began covering the stock and recommended ‘”a Buy”‘ rating along with a $13 price target.


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