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

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on AMPS shares. Maxim Group started coverage on Altus Power in a research report on Wednesday, April 10th. They issued a “buy” rating and a $7.00 target price on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $9.00 target price on shares of Altus Power in a research report on Thursday, April 11th. Roth Mkm decreased their target price on Altus Power from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, March 15th. Finally, B. Riley boosted their target price on Altus Power from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $8.63.

Insider Buying and Selling at Altus Power

In other news, CEO Lars Norell sold 40,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $5.58, for a total value of $223,200.00. Following the completion of the transaction, the chief executive officer now owns 21,654,907 shares of the company’s stock, valued at $120,834,381.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Lars Norell sold 40,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $5.58, for a total value of $223,200.00. Following the completion of the transaction, the chief executive officer now owns 21,654,907 shares of the company’s stock, valued at $120,834,381.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Anthony Savino sold 34,725 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $7.02, for a total value of $243,769.50. Following the completion of the transaction, the insider now directly owns 3,907,536 shares of the company’s stock, valued at approximately $27,430,902.72. The disclosure for this sale can be found here. Over the last quarter, insiders 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

Hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its stake in Altus Power by 13.1% in the second quarter. BlackRock Inc. now owns 6,159,872 shares of the company’s stock worth $33,263,000 after purchasing an additional 712,807 shares in the last quarter. Vanguard Group Inc. grew its stake in 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 purchasing an additional 63,809 shares in the last quarter. State Street Corp grew its stake in Altus Power by 26.8% in the first quarter. State Street Corp now owns 3,698,735 shares of the company’s stock worth $20,269,000 after purchasing an additional 780,823 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Altus Power by 360.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,529,144 shares of the company’s stock worth $10,445,000 after purchasing an additional 1,196,891 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Altus Power by 71.2% in the first quarter. Geode Capital Management LLC now owns 1,180,427 shares of the company’s stock worth $6,469,000 after purchasing an additional 490,886 shares in the last quarter. Institutional investors own 46.55% of the company’s stock.

Altus Power Trading Down 5.8 %

AMPS stock traded down $0.23 during midday trading on Wednesday, reaching $3.72. 1,975,079 shares of the company traded hands, compared to its average volume of 941,258. The firm has a market capitalization of $591.78 million, a price-to-earnings ratio of -53.14 and a beta of 0.88. The business has a 50 day moving average of $5.68 and a 200-day moving average of $5.60. Altus Power has a 52-week low of $3.66 and a 52-week high of $7.28. The company has a debt-to-equity ratio of 2.33, a quick ratio of 2.15 and a current ratio of 2.15.

Altus Power (NYSE:AMPS) 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 business had revenue of $34.19 million for the quarter, compared to the consensus estimate 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, sell-side analysts expect 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.