Short Interest in Altus Power, Inc. (NYSE:AMPS) Decreases By 18.0%

Altus Power, Inc. (NYSE:AMPS - Get Free Report) was the target of a significant drop in short interest in the month of 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 trading volume of 3,030,000 shares, the days-to-cover ratio is presently 1.6 days. Approximately 4.5% of the company's shares are sold short.

Altus Power Stock Performance

Shares of NYSE AMPS traded up $0.02 during midday trading on Friday, reaching $4.98. 6,957,092 shares of the stock were exchanged, compared to its average volume of 1,646,422. 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 firm has a 50-day simple moving average of $4.76 and a two-hundred day simple moving average of $4.07. Altus Power has a twelve month low of $2.71 and a twelve month high of $5.50. The firm has a market cap of $798.09 million, a price-to-earnings ratio of 22.61 and a beta of 0.94.

Altus Power (NYSE:AMPS - Get Free Report) last issued its quarterly earnings data on Monday, March 17th. The company reported ($0.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.28). The firm had revenue of $44.47 million during the quarter, compared to analyst estimates of $46.64 million. Altus Power had a return on equity of 4.79% and a net margin of 19.18%. As a group, analysts anticipate that Altus Power will post 0.14 EPS for the current fiscal year.

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Insider Transactions at Altus Power

In other news, insider Anthony Savino sold 8,823 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total transaction 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. This represents a 0.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregg J. Felton sold 71,161 shares of Altus Power stock in a transaction dated 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 sale, the chief executive officer now owns 4,023,696 shares of the company's stock, valued at $19,756,347.36. The trade was a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,146 shares of company stock valued at $437,707. 24.30% of the stock is currently owned by company insiders.

Institutional Trading of Altus Power

Several large investors have recently made changes to their positions in AMPS. US Bancorp DE raised its holdings in Altus Power by 11,326.2% in the 4th quarter. US Bancorp DE now owns 9,598 shares of the company's stock valued at $39,000 after acquiring an additional 9,514 shares during the last quarter. HighTower Advisors LLC purchased a new stake in shares of Altus Power in the third quarter valued at approximately $41,000. Citizens Financial Group Inc. RI acquired a new stake in shares of Altus Power in the fourth quarter valued at approximately $41,000. SevenBridge Financial Group LLC purchased a new position in Altus Power during the fourth quarter worth approximately $41,000. Finally, One68 Global Capital LLC acquired a new position in Altus Power during the fourth quarter worth $41,000. 46.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMPS has been the subject of a number of recent research reports. B. Riley downgraded shares of Altus Power from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $6.00 to $5.00 in a research note on Friday, February 7th. Roth Capital downgraded Altus Power from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 20th. UBS Group lowered shares of Altus Power from a "buy" rating to a "neutral" rating and set a $5.00 price target for the company. in a research report on Monday, February 10th. JPMorgan Chase & Co. upgraded Altus Power from an "underweight" rating to a "neutral" rating and set a $5.00 target price on the stock in a research note on Thursday, February 6th. Finally, Roth Mkm restated a "neutral" rating and set a $5.00 price objective on shares of Altus Power in a report on Friday, March 21st. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Altus Power presently has a consensus rating of "Hold" and a consensus price target of $5.13.

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.