Short Interest in Altus Power, Inc. (NYSE:AMPS) Rises By 13.0%

Altus Power, Inc. (NYSE:AMPS) 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) 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

In other Altus Power news, insider Anthony Savino sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $6.12, for a total transaction of $153,000.00. Following the transaction, the insider now owns 3,942,261 shares in the company, valued at $24,126,637.32. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 31.55% of the company’s stock.

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.