Altus Power, Inc. (NYSE:AMPS) Short Interest Up 8.5% in March

Altus Power, Inc. (NYSE:AMPS - Get Free Report) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 8,260,000 shares, a growth of 8.5% from the March 15th total of 7,610,000 shares. Based on an average daily trading volume, of 1,070,000 shares, the days-to-cover ratio is presently 7.7 days. Currently, 10.7% of the shares of the stock are short sold.

Altus Power Stock Up 3.6 %

AMPS traded up $0.13 on Wednesday, hitting $3.86. The company had a trading volume of 1,247,249 shares, compared to its average volume of 1,082,009. The stock has a fifty day simple moving average of $5.64 and a 200-day simple moving average of $5.58. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a market capitalization of $613.26 million, a P/E ratio of -55.07 and a beta of 0.88. Altus Power has a 52-week low of $3.66 and a 52-week high of $7.28.

Altus Power (NYSE:AMPS - Get Free Report) last released its earnings results on Thursday, March 14th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.02). The firm had revenue of $34.19 million during the quarter, compared to analysts' expectations of $42.85 million. Altus Power had a negative net margin of 6.03% and a negative return on equity of 0.30%. As a group, equities analysts expect that Altus Power will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Altus Power news, CEO Gregg J. Felton acquired 12,500 shares of the business's stock in a transaction dated Thursday, March 28th. The stock was bought at an average price of $4.78 per share, with a total value of $59,750.00. Following the purchase, the chief executive officer now owns 11,894,603 shares of the company's stock, valued at $56,856,202.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Anthony Savino sold 34,725 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $7.02, for a total transaction of $243,769.50. Following the completion of the sale, the insider now directly owns 3,907,536 shares in the company, valued at approximately $27,430,902.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregg J. Felton purchased 12,500 shares of Altus Power stock in a transaction that occurred on Thursday, March 28th. The shares were bought at an average price of $4.78 per share, for a total transaction of $59,750.00. Following the completion of the transaction, the chief executive officer now owns 11,894,603 shares in the company, valued at $56,856,202.34. The disclosure for this purchase can be found here. Insiders sold 83,673 shares of company stock worth $530,948 in the last quarter. 31.55% of the stock is owned by insiders.

Institutional Trading of Altus Power

A number of hedge funds and other institutional investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale purchased a new position in Altus Power during the fourth quarter valued at $3,671,000. Vanguard Group Inc. boosted its stake in Altus Power by 12.8% in the 3rd quarter. Vanguard Group Inc. now owns 3,871,155 shares of the company's stock worth $20,324,000 after purchasing an additional 438,845 shares in the last quarter. abrdn plc grew its position in Altus Power by 1,217.7% during the 3rd quarter. abrdn plc now owns 619,300 shares of the company's stock valued at $3,251,000 after purchasing an additional 572,300 shares during the last quarter. ANTIPODES PARTNERS Ltd grew its position in Altus Power by 292.1% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 25,503 shares of the company's stock valued at $127,000 after purchasing an additional 18,999 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in Altus Power by 32.3% during the 4th quarter. SG Americas Securities LLC now owns 35,309 shares of the company's stock valued at $241,000 after purchasing an additional 8,617 shares in the last quarter. 46.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AMPS. Roth Mkm cut their target price on shares of Altus Power from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Friday, March 15th. B. Riley boosted their price objective on shares of Altus Power from $8.00 to $10.00 and gave the company a "buy" rating in a research report on Monday, February 5th. Morgan Stanley reaffirmed an "overweight" rating and set a $9.00 price objective on shares of Altus Power in a research note on Thursday, April 11th. Finally, Maxim Group began coverage on shares of Altus Power in a report on Wednesday, April 10th. They set a "buy" rating and a $7.00 target price for the company. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $8.63.

About Altus Power

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.