Short Interest in Altus Power, Inc. (NYSE:AMPS) Decreases By 18.0%

Altus Power, Inc. (NYSE:AMPS) was the target of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 4,790,000 shares, a decrease of 18.0% from the February 28th total of 5,840,000 shares. Based on an average daily trading volume, of 3,030,000 shares, the short-interest ratio is presently 1.6 days. Currently, 4.5% of the shares of the stock are short sold.

Altus Power Trading Down 0.2 %

AMPS traded down $0.01 during mid-day trading on Wednesday, hitting $4.95. 3,149,809 shares of the stock were exchanged, compared to its average volume of 1,614,010. The firm’s fifty day moving average is $4.68 and its two-hundred day moving average is $4.04. Altus Power has a 1-year low of $2.71 and a 1-year high of $5.50. The company has a market cap of $794.08 million, a PE ratio of 22.50 and a beta of 0.98. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.10.

Altus Power (NYSE:AMPS) last issued its quarterly earnings results on Monday, March 17th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.28). Altus Power had a return on equity of 4.79% and a net margin of 19.18%. The business had revenue of $44.47 million for the quarter, compared to analyst estimates of $46.64 million. Equities analysts forecast that Altus Power will post 0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity

In other Altus Power news, CEO Gregg J. Felton sold 71,161 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total value of $349,400.51. Following the completion of the sale, the chief executive officer now directly owns 4,023,696 shares in the company, valued at $19,756,347.36. This represents a 1.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dustin Weber sold 9,162 shares of Altus Power stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total value of $44,985.42. Following the transaction, the chief financial officer now owns 2,002,611 shares in the company, valued at approximately $9,832,820.01. This represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,146 shares of company stock worth $437,707 over the last three months. Insiders own 24.30% of the company’s stock.

Hedge Funds Weigh In On Altus Power

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMPS. US Bancorp DE raised its stake in shares of Altus Power by 11,326.2% in the fourth quarter. US Bancorp DE now owns 9,598 shares of the company’s stock valued at $39,000 after acquiring an additional 9,514 shares in the last quarter. HighTower Advisors LLC acquired a new stake in Altus Power in the 3rd quarter valued at about $41,000. Citizens Financial Group Inc. RI acquired a new stake in Altus Power in the 4th quarter valued at about $41,000. SevenBridge Financial Group LLC purchased a new position in shares of Altus Power in the 4th quarter valued at about $41,000. Finally, One68 Global Capital LLC acquired a new position in shares of Altus Power during the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 46.55% of the company’s stock.

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.