Altus Power, Inc. (NYSE:AMPS) Short Interest Up 8.5% in March

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. Currently, 10.7% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AMPS shares. Maxim Group started coverage on Altus Power in a research note on Wednesday, April 10th. They issued a “buy” rating and a $7.00 price objective on the stock. Roth Mkm lowered their price objective on shares of Altus Power from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, March 15th. Morgan Stanley reissued an “overweight” rating and set a $9.00 price objective on shares of Altus Power in a report on Thursday, April 11th. Finally, B. Riley upped their target price on Altus Power from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $8.63.

Altus Power Stock Down 5.8 %

Shares of Altus Power stock traded down $0.23 on Wednesday, hitting $3.72. 1,975,079 shares of the company’s stock traded hands, compared to its average volume of 941,258. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 2.33. Altus Power has a one year low of $3.66 and a one year high of $7.28. The company has a fifty day moving average of $5.68 and a two-hundred day moving average of $5.60.

Altus Power (NYSE:AMPS) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The company had revenue of $34.19 million during the quarter, compared to analysts’ expectations of $42.85 million. Altus Power had a negative return on equity of 0.30% and a negative net margin of 6.03%. Sell-side analysts anticipate that Altus Power will post -0.1 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Gregg J. Felton purchased 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were acquired at an average price of $4.78 per share, for a total transaction of $59,750.00. Following the purchase, the chief executive officer now owns 11,894,603 shares in the company, valued at $56,856,202.34. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Altus Power news, CEO Gregg J. Felton purchased 12,500 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were acquired at an average cost of $4.78 per share, with a total value of $59,750.00. Following the completion of the transaction, the chief executive officer now owns 11,894,603 shares in the company, valued at $56,856,202.34. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Dustin Weber sold 4,350 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $7.15, for a total value of $31,102.50. Following the completion of the sale, the chief financial officer now owns 1,884,926 shares of the company’s stock, valued at $13,477,220.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 83,673 shares of company stock worth $530,948. Company insiders own 31.55% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ensign Peak Advisors Inc purchased a new stake in Altus Power in the 3rd quarter worth approximately $26,000. Advisors Asset Management Inc. purchased a new position in Altus Power during the fourth quarter valued at $37,000. JPMorgan Chase & Co. purchased a new stake in shares of Altus Power in the 1st quarter worth about $39,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Altus Power in the 3rd quarter worth about $41,000. Finally, Point72 Middle East FZE purchased a new position in Altus Power during the 4th quarter valued at about $41,000. Institutional investors own 46.55% of the company’s stock.

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.