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

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

Analyst Ratings Changes

Several research analysts have commented on AMPS shares. Roth Capital lowered Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. Roth Mkm restated a “neutral” rating and issued a $5.00 price objective 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 target price on the stock in a report on Thursday, February 6th. B. Riley downgraded shares of Altus Power from a “buy” rating to a “neutral” rating and cut their price target for the company from $6.00 to $5.00 in a report on Friday, February 7th. Finally, UBS Group cut shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a report on Monday, February 10th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $5.13.

Insider Buying and Selling at Altus Power

In other news, CFO Dustin Weber sold 9,162 shares of the firm’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 $44,985.42. Following the completion of the transaction, the chief financial officer now directly owns 2,002,611 shares of the company’s stock, valued at $9,832,820.01. This trade represents a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregg J. Felton sold 71,161 shares of Altus Power 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 completion of the transaction, the chief executive officer now owns 4,023,696 shares of the company’s stock, valued at approximately $19,756,347.36. This trade represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,146 shares of company stock valued at $437,707. Company insiders own 24.30% of the company’s stock.

Institutional Trading of Altus Power

Several hedge funds and other institutional investors have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Altus Power by 27.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 385,699 shares of the company’s stock worth $1,570,000 after acquiring an additional 83,911 shares in the last quarter. Squarepoint Ops LLC raised its position in Altus Power by 51.3% in the 4th quarter. Squarepoint Ops LLC now owns 107,859 shares of the company’s stock worth $439,000 after purchasing an additional 36,550 shares during the period. ProShare Advisors LLC lifted its stake in Altus Power by 11.5% in the fourth 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. Millennium Management LLC boosted its position in Altus Power by 148.3% during the fourth quarter. Millennium Management LLC now owns 652,278 shares of the company’s stock valued at $2,655,000 after buying an additional 389,605 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Altus Power by 13.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,121 shares of the company’s stock valued at $249,000 after buying an additional 7,428 shares during the period. Hedge funds and other institutional investors own 46.55% of the company’s stock.

Altus Power Price Performance

Shares of NYSE AMPS traded up $0.01 during mid-day trading on Tuesday, reaching $4.96. 915,826 shares of the company were exchanged, compared to its average volume of 1,601,743. The stock has a market capitalization of $794.89 million, a PE ratio of 22.52 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 has a 52 week low of $2.71 and a 52 week high of $5.50. The company’s 50 day moving average price is $4.65 and its 200 day moving average price is $4.03.

Altus Power (NYSE:AMPS) last issued its quarterly 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 firm 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%. Sell-side analysts forecast that Altus Power will post 0.14 earnings per share for the current fiscal year.

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.