Dustin Weber, Chief Financial Officer of Altus Power Inc (AMPS, Financial), executed a sale of 21,000 shares in the company on December 28, 2023, according to a recent SEC Filing.
Altus Power Inc operates in the renewable energy sector, focusing on the acquisition, development, construction, and operation of clean energy projects, particularly solar generation. The company's portfolio includes commercial, industrial, and municipal solar assets across the United States.
Over the past year, the insider has sold a total of 300,470 shares and has not made any purchases of the company's stock. This latest transaction continues the trend of insider sales for the company.
The insider transaction history for Altus Power Inc shows a pattern of insider activity. In the past year, there have been 6 insider buys and 8 insider sells. This activity provides a glimpse into the sentiment insiders have about the company's stock performance and future outlook.
On the day of the insider's recent sale, shares of Altus Power Inc were trading at $7.03, giving the company a market cap of $1.094 billion. The price-earnings ratio of the stock stands at 13.13, which is below both the industry median of 14.735 and the company’s historical median price-earnings ratio, suggesting a potentially lower valuation relative to its peers and its own trading history.
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Investors and analysts often monitor insider sales as they may provide insights into the company's performance and insider perspectives on the stock's valuation. However, it is important to consider that insider transactions can be influenced by various factors and may not always indicate the future direction of the stock price.
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