Altus Power, Inc. (NYSE:AMPS) Sees Large Drop in Short Interest

Altus Power, Inc. (NYSE:AMPS) was the target of a significant decrease in short interest in the month of February. As of February 15th, there was short interest totalling 5,080,000 shares, a decrease of 34.0% from the January 31st total of 7,700,000 shares. Based on an average daily trading volume, of 2,720,000 shares, the days-to-cover ratio is currently 1.9 days. Approximately 4.8% of the shares of the stock are short sold.

Altus Power Stock Up 0.1 %

NYSE:AMPS opened at $4.93 on Friday. The firm has a market capitalization of $791.92 million, a price-to-earnings ratio of 22.39 and a beta of 1.05. Altus Power has a 1-year low of $2.71 and a 1-year high of $7.01. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.10. The business’s fifty day moving average price is $4.30 and its 200 day moving average price is $3.75.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AMPS. Seaport Res Ptn downgraded Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. raised Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a report on Thursday, February 6th. B. Riley downgraded Altus Power from a “buy” rating to a “neutral” rating and reduced their target price for the company from $6.00 to $5.00 in a report on Friday, February 7th. Finally, UBS Group downgraded Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 target price for the company. in a report on Monday, February 10th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $5.06.

Insider Activity

In other news, CFO Dustin Weber sold 9,162 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total transaction of $44,985.42. Following the completion of the sale, the chief financial officer now directly owns 2,002,611 shares of the company’s stock, valued at $9,832,820.01. This represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Anthony Savino sold 8,823 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 $43,320.93. Following the sale, the insider now directly owns 4,088,231 shares of the company’s stock, valued at approximately $20,073,214.21. This represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,146 shares of company stock worth $437,707 over the last 90 days. 24.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AMPS. Janus Henderson Group PLC increased its position in Altus Power by 9.0% in the 3rd quarter. Janus Henderson Group PLC now owns 44,792 shares of the company’s stock worth $142,000 after purchasing an additional 3,709 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Altus Power by 8.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 54,512 shares of the company’s stock worth $222,000 after purchasing an additional 4,395 shares during the last quarter. ProShare Advisors LLC increased its position in Altus Power by 11.5% in the 4th quarter. ProShare Advisors LLC now owns 49,869 shares of the company’s stock worth $203,000 after purchasing an additional 5,143 shares during the last quarter. HTG Investment Advisors Inc. increased its position in Altus Power by 8.6% in the 3rd quarter. HTG Investment Advisors Inc. now owns 65,148 shares of the company’s stock worth $207,000 after purchasing an additional 5,148 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Altus Power by 19.6% in the 4th quarter. SG Americas Securities LLC now owns 36,058 shares of the company’s stock worth $147,000 after purchasing an additional 5,912 shares during the last quarter. 46.55% of the stock is owned by institutional investors and hedge funds.

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.