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

Altus Power, Inc. (NYSE:AMPS) was the target of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 7,760,000 shares, a decrease of 19.2% from the October 15th total of 9,600,000 shares. Based on an average daily volume of 1,070,000 shares, the days-to-cover ratio is presently 7.3 days. Currently, 8.5% of the shares of the stock are short sold.

Altus Power Stock Down 6.1 %

AMPS traded down $0.25 during trading on Friday, hitting $3.85. The company had a trading volume of 1,033,961 shares, compared to its average volume of 1,242,123. The company has a market capitalization of $619.04 million, a PE ratio of 17.50 and a beta of 0.94. The firm’s 50-day moving average price is $3.35 and its 200 day moving average price is $3.70. The company has a quick ratio of 0.91, a current ratio of 0.60 and a debt-to-equity ratio of 2.10. Altus Power has a one year low of $2.71 and a one year high of $7.28.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Citigroup reduced their price objective on Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Maxim Group lowered their price target on shares of Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a report on Monday, August 12th. UBS Group cut their price objective on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Morgan Stanley cut Altus Power from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $8.00 to $4.00 in a research report on Wednesday, August 21st. Finally, Roth Mkm reiterated a “buy” rating and issued a $4.50 target price on shares of Altus Power in a research note on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $5.81.

Institutional Trading of Altus Power

Hedge funds and other institutional investors have recently modified their holdings of the stock. Encompass Capital Advisors LLC grew its position in shares of Altus Power by 1.2% during the 2nd quarter. Encompass Capital Advisors LLC now owns 4,628,613 shares of the company’s stock worth $18,144,000 after purchasing an additional 53,031 shares in the last quarter. State Street Corp grew its position in Altus Power by 0.6% in the third quarter. State Street Corp now owns 3,682,864 shares of the company’s stock valued at $11,712,000 after acquiring an additional 21,312 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Altus Power by 37.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,974,269 shares of the company’s stock worth $11,662,000 after purchasing an additional 807,071 shares in the last quarter. Swedbank AB acquired a new position in shares of Altus Power during the first quarter worth $12,589,000. Finally, abrdn plc boosted its stake in shares of Altus Power by 8.7% during the third quarter. abrdn plc now owns 1,444,400 shares of the company’s stock valued at $4,593,000 after purchasing an additional 115,300 shares in the last quarter. Institutional investors own 46.55% of the company’s stock.

About Altus Power

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.