Altus Power, Inc. (NYSE:AMPS) Short Interest Up 10.4% in November

Altus Power, Inc. (NYSE:AMPS) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 8,570,000 shares, a growth of 10.4% from the October 31st total of 7,760,000 shares. Currently, 9.4% of the shares of the company are short sold. Based on an average trading volume of 1,070,000 shares, the days-to-cover ratio is currently 8.0 days.

Institutional Investors Weigh In On Altus Power

Several institutional investors have recently bought and sold shares of AMPS. Summit Securities Group LLC acquired a new stake in shares of Altus Power during the second quarter valued at approximately $39,000. Iridian Asset Management LLC CT purchased a new stake in shares of Altus Power in the third quarter valued at $40,000. HighTower Advisors LLC acquired a new stake in shares of Altus Power in the third quarter worth $41,000. Vaughan David Investments LLC IL purchased a new position in shares of Altus Power during the second quarter valued at $55,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Altus Power during the second quarter valued at $68,000. Institutional investors and hedge funds own 46.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Roth Mkm reiterated a “buy” rating and set a $4.50 target price on shares of Altus Power in a research report on Wednesday, October 16th. UBS Group decreased their target price 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. Citigroup cut their price target on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Maxim Group decreased their price objective 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. Finally, Morgan Stanley lowered Altus Power from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $8.00 to $4.00 in a research note on Wednesday, August 21st. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $5.21.

Altus Power Stock Down 6.5 %

Shares of Altus Power stock traded down $0.28 during trading on Monday, reaching $4.04. The company had a trading volume of 862,039 shares, compared to its average volume of 1,074,157. The company has a market cap of $649.62 million, a price-to-earnings ratio of 18.59 and a beta of 0.94. The firm’s fifty day moving average is $3.52 and its 200-day moving average is $3.68. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60. Altus Power has a fifty-two week low of $2.71 and a fifty-two week high of $7.28.

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.