Altus Power, Inc. (NYSE:AMPS) Short Interest Update

Altus Power, Inc. (NYSE:AMPS) saw a significant drop in short interest in March. As of March 15th, there was short interest totalling 4,790,000 shares, a drop of 18.0% from the February 28th total of 5,840,000 shares. Based on an average daily volume of 3,030,000 shares, the short-interest ratio is currently 1.6 days. Currently, 4.5% of the company’s stock are sold short.

Altus Power Price Performance

Altus Power stock opened at $4.95 on Thursday. The business has a 50-day simple moving average of $4.71 and a 200 day simple moving average of $4.05. Altus Power has a 52 week low of $2.71 and a 52 week high of $5.50. The stock 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 quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10.

Altus Power (NYSE:AMPS) last posted its quarterly earnings data on Monday, March 17th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The company had revenue of $44.47 million during 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%. On average, research analysts forecast that Altus Power will post 0.14 earnings per share for the current fiscal year.

Insider Activity at Altus Power

In other Altus Power news, insider Anthony Savino sold 8,823 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total value of $43,320.93. Following the transaction, the insider now owns 4,088,231 shares of the company’s stock, valued at approximately $20,073,214.21. The trade was a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregg J. Felton sold 71,161 shares of the firm’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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,146 shares of company stock valued at $437,707 over the last ninety days. Corporate insiders own 24.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Encompass Capital Advisors LLC boosted its holdings in shares of Altus Power by 20.0% in the 4th quarter. Encompass Capital Advisors LLC now owns 8,027,318 shares of the company’s stock worth $32,671,000 after purchasing an additional 1,336,044 shares in the last quarter. State Street Corp lifted its stake in Altus Power by 0.6% in the third quarter. State Street Corp now owns 3,682,864 shares of the company’s stock worth $11,712,000 after purchasing an additional 21,312 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Altus Power by 7.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,648,599 shares of the company’s stock valued at $14,850,000 after buying an additional 263,393 shares during the last quarter. Legal & General Group Plc boosted its holdings in Altus Power by 1.4% during the 4th quarter. Legal & General Group Plc now owns 1,905,722 shares of the company’s stock valued at $7,756,000 after acquiring an additional 26,760 shares during the period. Finally, Geode Capital Management LLC grew its position in Altus Power by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,564,740 shares of the company’s stock worth $6,370,000 after acquiring an additional 10,450 shares during the last quarter. Institutional investors own 46.55% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Seaport Res Ptn downgraded Altus Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. UBS Group lowered shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 target price for the company. in a research report on Monday, February 10th. Roth Mkm reissued a “neutral” rating and issued a $5.00 price target on shares of Altus Power in a research report 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 price objective for the company in a report on Thursday, February 6th. Finally, B. Riley downgraded Altus Power from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $6.00 to $5.00 in a research report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.