Altus Power, Inc. (NYSE:AMPS) Short Interest Update

Altus Power, Inc. (NYSE:AMPS - Get Free Report) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 7,180,000 shares, an increase of 49.9% from the March 15th total of 4,790,000 shares. Based on an average daily trading volume, of 3,380,000 shares, the days-to-cover ratio is currently 2.1 days. Approximately 6.8% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AMPS shares. Roth Mkm reiterated a "neutral" rating and issued a $5.00 price target on shares of Altus Power in a research report on Friday, March 21st. Seaport Res Ptn downgraded shares of Altus Power from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 6th. B. Riley cut shares of Altus Power from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $6.00 to $5.00 in a research note on Friday, February 7th. JPMorgan Chase & Co. upgraded shares of Altus Power from an "underweight" rating to a "neutral" rating and set a $5.00 target price on the stock in a research note on Thursday, February 6th. Finally, UBS Group lowered shares of Altus Power from a "buy" rating to a "neutral" rating and set a $5.00 price target for the company. in a research report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $5.13.

Altus Power Price Performance

Shares of NYSE AMPS traded down $0.01 during mid-day trading on Wednesday, reaching $5.00. 5,274,621 shares of the company were exchanged, compared to its average volume of 1,755,054. The stock has a market capitalization of $801.30 million, a PE ratio of 22.70 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. Altus Power has a 52 week low of $2.71 and a 52 week high of $5.50. The company's 50 day moving average price is $4.95 and its 200 day moving average price is $4.24.

Altus Power (NYSE:AMPS - Get Free Report) last posted its quarterly earnings data on Monday, March 17th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.28). The firm had revenue of $44.47 million during the quarter, compared to analysts' expectations of $46.64 million. Altus Power had a return on equity of 4.79% and a net margin of 19.18%. Sell-side analysts forecast that Altus Power will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Altus Power

In related news, insider Anthony Savino sold 8,823 shares of the firm's 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 $43,320.93. Following the completion of the transaction, the insider now directly owns 4,088,231 shares of the company's stock, valued at approximately $20,073,214.21. This trade represents a 0.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Dustin Weber sold 9,162 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 transaction of $44,985.42. Following the completion of the transaction, the chief financial officer now owns 2,002,611 shares of the company's stock, valued at $9,832,820.01. This represents a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 221,422 shares of company stock worth $1,093,796 over the last ninety days. 24.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. US Bancorp DE boosted its stake in shares of Altus Power by 11,326.2% in the 4th quarter. US Bancorp DE now owns 9,598 shares of the company's stock valued at $39,000 after purchasing an additional 9,514 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new stake in Altus Power during the fourth quarter valued at about $41,000. HighTower Advisors LLC purchased a new stake in Altus Power during the third quarter valued at about $41,000. SevenBridge Financial Group LLC bought a new position in shares of Altus Power during the fourth quarter valued at about $41,000. Finally, One68 Global Capital LLC purchased a new position in shares of Altus Power in the fourth quarter worth about $41,000. 46.55% of the stock is owned by hedge funds and other institutional investors.

Altus Power Company 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.