Altus Power, Inc. (NYSE:AMPS – Get Free Report) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 6,010,000 shares, an increase of 13.0% from the October 15th total of 5,320,000 shares. Currently, 7.7% of the company’s shares are sold short. Based on an average daily trading volume, of 1,190,000 shares, the short-interest ratio is presently 5.1 days.
Altus Power Trading Down 8.2 %
NYSE AMPS opened at $4.95 on Friday. The business’s 50-day moving average price is $5.33 and its two-hundred day moving average price is $5.53. Altus Power has a 12 month low of $4.08 and a 12 month high of $8.58. The firm has a market capitalization of $792 million, a PE ratio of 9.52 and a beta of 0.84. The company has a current ratio of 1.02, a quick ratio of 1.09 and a debt-to-equity ratio of 1.80.
Altus Power (NYSE:AMPS – Get Free Report) last posted its quarterly earnings results on Monday, November 13th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Altus Power had a return on equity of 0.15% and a net margin of 57.98%. The firm had revenue of $45.08 million for the quarter, compared to analyst estimates of $49.22 million. During the same period last year, the company posted $0.03 earnings per share. On average, analysts expect that Altus Power will post -0.01 EPS for the current year.
Insiders Place Their Bets
Hedge Funds Weigh In On Altus Power
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. lifted its stake in shares of Altus Power by 50.0% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 30,000 shares of the company’s stock valued at $162,000 after acquiring an additional 10,000 shares during the last quarter. abrdn plc bought a new position in Altus Power during the 2nd quarter valued at approximately $254,000. Triad Investment Management grew its holdings in shares of Altus Power by 6.8% during the 2nd quarter. Triad Investment Management now owns 39,144 shares of the company’s stock worth $211,000 after acquiring an additional 2,500 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Altus Power during the 1st quarter worth approximately $1,644,000. Finally, Arizona State Retirement System grew its stake in shares of Altus Power by 29.4% in the 2nd quarter. Arizona State Retirement System now owns 17,863 shares of the company’s stock worth $96,000 after buying an additional 4,057 shares during the last quarter. 45.92% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on AMPS shares. JPMorgan Chase & Co. decreased their price target on Altus Power from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Tuesday. UBS Group reduced their target price on Altus Power from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Morgan Stanley reduced their target price on Altus Power from $12.00 to $11.00 and set an “overweight” rating for the company in a research note on Tuesday, October 17th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $9.17.
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. The company was founded in 2013 and is headquartered in Stamford, Connecticut.
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