Short Interest in Altus Power, Inc. (NYSE:AMPS) Expands By 8.5%

Altus Power, Inc. (NYSE:AMPS) was the target of a large growth in short interest in 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. Approximately 10.7% of the company’s stock are short sold. Based on an average daily volume of 1,070,000 shares, the short-interest ratio is currently 7.7 days.

Wall Street Analyst Weigh In

AMPS has been the subject of a number of recent analyst reports. Roth Mkm lowered their price objective on Altus Power from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, March 15th. Maxim Group assumed coverage on Altus Power in a report on Wednesday, April 10th. They issued a “buy” rating and a $7.00 price target for the company. Morgan Stanley restated an “overweight” rating and set a $9.00 price target on shares of Altus Power in a research note on Thursday, April 11th. Finally, B. Riley increased 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. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $8.63.

Insider Buying and Selling at Altus Power

In other news, CFO Dustin Weber sold 4,350 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $7.15, for a total value of $31,102.50. Following the completion of the sale, the chief financial officer now owns 1,884,926 shares of the company’s stock, valued at approximately $13,477,220.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Anthony Savino sold 4,598 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $7.15, for a total transaction of $32,875.70. Following the completion of the transaction, the insider now owns 3,887,663 shares in the company, valued at approximately $27,796,790.45. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Dustin Weber sold 4,350 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $7.15, for a total transaction of $31,102.50. Following the completion of the sale, the chief financial officer now owns 1,884,926 shares of the company’s stock, valued at $13,477,220.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 83,673 shares of company stock valued at $530,948. Company insiders own 31.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bouvel Investment Partners LLC grew its position in Altus Power by 2.8% during the 1st quarter. Bouvel Investment Partners LLC now owns 305,673 shares of the company’s stock worth $1,461,000 after purchasing an additional 8,295 shares during the period. Triad Investment Management boosted its stake in shares of Altus Power by 48.2% in the first quarter. Triad Investment Management now owns 58,023 shares of the company’s stock worth $277,000 after buying an additional 18,879 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Altus Power by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 3,934,964 shares of the company’s stock worth $26,876,000 after buying an additional 63,809 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Altus Power by 13.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 389,111 shares of the company’s stock worth $2,658,000 after acquiring an additional 45,635 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in Altus Power by 22.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 41,141 shares of the company’s stock valued at $281,000 after acquiring an additional 7,581 shares in the last quarter. 46.55% of the stock is currently owned by institutional investors and hedge funds.

Altus Power Stock Performance

Shares of Altus Power stock traded up $0.17 on Wednesday, reaching $3.89. 875,310 shares of the stock were exchanged, compared to its average volume of 1,076,424. The business has a 50 day moving average price of $5.68 and a two-hundred day moving average price of $5.60. The firm has a market capitalization of $618.82 million, a price-to-earnings ratio of -53.14 and a beta of 0.88. Altus Power has a twelve month low of $3.66 and a twelve month high of $7.28. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 2.33.

Altus Power (NYSE:AMPS) last posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The business had revenue of $34.19 million for the quarter, compared to analysts’ expectations of $42.85 million. Altus Power had a negative return on equity of 0.30% and a negative net margin of 6.03%. Analysts anticipate that Altus Power will post -0.1 earnings per share for the current fiscal year.

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.