Altus Power, Inc. (NYSE:AMPS) Sees Significant Decrease in Short Interest

Altus Power, Inc. (NYSE:AMPS) was the recipient of a significant 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 shares of the company are short sold. Based on an average daily trading volume, of 3,030,000 shares, the short-interest ratio is presently 1.6 days.

Insider Buying and Selling at Altus Power

In related news, insider Anthony Savino sold 8,823 shares of Altus Power stock in a transaction that occurred 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 completion of the sale, the insider now directly 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Gregg J. Felton sold 71,161 shares of Altus Power stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total transaction of $349,400.51. Following the completion of the sale, the chief executive officer now owns 4,023,696 shares of the company’s stock, valued at approximately $19,756,347.36. The trade was a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,146 shares of company stock worth $437,707 over the last 90 days. Company insiders own 24.30% of the company’s stock.

Institutional Investors Weigh In On Altus Power

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

Altus Power Stock Down 0.2 %

Shares of Altus Power stock opened at $4.95 on Thursday. The stock’s 50-day moving average is $4.71 and its 200 day moving average is $4.05. Altus Power has a one year low of $2.71 and a one year high of $5.50. The firm has a market cap of $794.08 million, a price-to-earnings ratio of 22.50 and a beta of 0.98. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.60 and a quick ratio of 0.60.

Altus Power (NYSE:AMPS) last issued its 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). The company had revenue of $44.47 million for the quarter, compared to the consensus estimate of $46.64 million. Altus Power had a return on equity of 4.79% and a net margin of 19.18%. Equities research analysts anticipate that Altus Power will post 0.14 EPS for the current year.

Analyst Ratings Changes

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

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.