Altus Power, Inc. (NYSE:AMPS) Short Interest Up 10.4% in November

Altus Power, Inc. (NYSE:AMPS) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 8,570,000 shares, an increase of 10.4% from the October 31st total of 7,760,000 shares. Based on an average trading volume of 1,070,000 shares, the days-to-cover ratio is currently 8.0 days. Approximately 9.4% of the shares of the company are sold short.

Institutional Trading of Altus Power

Several hedge funds have recently modified their holdings of the company. Summit Securities Group LLC purchased a new stake in Altus Power during the 2nd quarter valued at $39,000. Iridian Asset Management LLC CT purchased a new stake in Altus Power during the 3rd quarter valued at $40,000. HighTower Advisors LLC purchased a new stake in Altus Power during the 3rd quarter valued at $41,000. Vaughan David Investments LLC IL purchased a new stake in Altus Power during the 2nd quarter valued at $55,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Altus Power in the 2nd quarter valued at $68,000. 46.55% of the stock is owned by hedge funds and other institutional investors.

Altus Power Price Performance

Shares of AMPS traded down $0.04 during mid-day trading on Wednesday, hitting $3.91. 185,352 shares of the stock were exchanged, compared to its average volume of 1,069,548. The company has a market cap of $628.73 million, a PE ratio of 17.95 and a beta of 1.04. Altus Power has a 52-week low of $2.71 and a 52-week high of $7.28. The firm has a 50-day moving average of $3.54 and a two-hundred day moving average of $3.68. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMPS. Roth Mkm reiterated a “buy” rating and set a $4.50 price objective on shares of Altus Power in a research note on Wednesday, October 16th. UBS Group lowered their price target on Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Citigroup lowered their price target on Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Maxim Group lowered their price target on Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, Morgan Stanley cut Altus Power from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $8.00 to $4.00 in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Altus Power presently has an average rating of “Buy” and a consensus target price of $5.21.

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.