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 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 volume of 2,720,000 shares, the short-interest ratio is currently 1.9 days. Approximately 4.8% of the company’s shares are sold short.

Insider Activity at Altus Power

In related news, insider Anthony Savino sold 8,823 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 4,088,231 shares in the company, valued at $20,073,214.21. This represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Gregg J. Felton sold 71,161 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total transaction of $349,400.51. Following the completion of the transaction, the chief executive officer now owns 4,023,696 shares in the company, valued at approximately $19,756,347.36. The trade was a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,146 shares of company stock worth $437,707 over the last three months. Company insiders own 24.30% of the company’s stock.

Institutional Trading of Altus Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Encompass Capital Advisors LLC boosted its holdings in Altus Power by 20.0% during the 4th quarter. Encompass Capital Advisors LLC now owns 8,027,318 shares of the company’s stock worth $32,671,000 after acquiring an additional 1,336,044 shares during the last quarter. State Street Corp grew its holdings in shares of 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 in the last quarter. Dimensional Fund Advisors LP increased its position 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 acquiring an additional 263,393 shares during the last quarter. Legal & General Group Plc boosted its position in Altus Power by 1.4% in the fourth quarter. Legal & General Group Plc now owns 1,905,722 shares of the company’s stock worth $7,756,000 after purchasing an additional 26,760 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Altus Power by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,564,740 shares of the company’s stock valued at $6,370,000 after purchasing an additional 10,450 shares during the last quarter. 46.55% of the stock is owned by institutional investors.

Altus Power Stock Down 0.1 %

AMPS traded down $0.01 during trading on Tuesday, hitting $4.94. 1,734,397 shares of the company’s stock were exchanged, compared to its average volume of 3,625,996. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10. The business’s 50 day moving average is $4.33 and its two-hundred day moving average is $3.78. Altus Power has a fifty-two week low of $2.71 and a fifty-two week high of $6.89. The stock has a market cap of $793.53 million, a P/E ratio of 22.43 and a beta of 1.05.

Wall Street Analysts Forecast Growth

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

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.