Altus Power, Inc. (NYSE:AMPS) Short Interest Down 18.0% in March

Altus Power, Inc. (NYSE:AMPS) was the target of a large decrease in short interest in 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. Currently, 4.5% of the company’s shares are short sold. Based on an average daily volume of 3,030,000 shares, the days-to-cover ratio is presently 1.6 days.

Analyst Ratings Changes

AMPS has been the subject of several recent analyst reports. B. Riley cut Altus Power from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $6.00 to $5.00 in a research note on Friday, February 7th. UBS Group downgraded shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price objective for the company. in a research report on Monday, February 10th. Roth Mkm reiterated a “neutral” rating and issued a $5.00 price objective on shares of Altus Power in a research note on Friday, March 21st. JPMorgan Chase & Co. raised shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research note on Thursday, February 6th. Finally, Roth Capital downgraded shares of Altus Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $5.13.

Altus Power Stock Up 0.1 %

Shares of NYSE AMPS traded up $0.01 during mid-day trading on Tuesday, reaching $4.96. 915,826 shares of the company’s stock traded hands, compared to its average volume of 1,601,743. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.60 and a quick ratio of 0.60. The business has a 50-day simple moving average of $4.65 and a 200 day simple moving average of $4.03. The stock has a market cap of $794.89 million, a P/E ratio of 22.52 and a beta of 0.98. Altus Power has a 1-year low of $2.71 and a 1-year high of $5.50.

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

Insider Buying and Selling at Altus Power

In other news, CEO Gregg J. Felton sold 71,161 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total value of $349,400.51. Following the sale, the chief executive officer now directly owns 4,023,696 shares of the company’s stock, valued at approximately $19,756,347.36. This represents a 1.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Anthony Savino sold 8,823 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total transaction of $43,320.93. Following the sale, the insider now owns 4,088,231 shares of the company’s stock, valued at approximately $20,073,214.21. This trade represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,146 shares of company stock valued at $437,707. 24.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Altus Power

Institutional investors have recently bought and sold shares of the stock. Intech Investment Management LLC purchased a new position in Altus Power during the 3rd quarter worth $86,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Altus Power by 4.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 312,205 shares of the company’s stock valued at $993,000 after purchasing an additional 14,492 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Altus Power by 798.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,508 shares of the company’s stock worth $234,000 after purchasing an additional 65,327 shares during the last quarter. HighTower Advisors LLC bought a new stake in Altus Power in the 3rd quarter worth about $41,000. Finally, Janus Henderson Group PLC increased its stake in Altus Power by 9.0% in the 3rd quarter. Janus Henderson Group PLC now owns 44,792 shares of the company’s stock valued at $142,000 after buying an additional 3,709 shares during the last quarter. 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.