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

Altus Power, Inc. (NYSE:AMPS) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 8,260,000 shares, a growth of 8.5% from the March 15th total of 7,610,000 shares. Currently, 10.7% of the company’s stock are sold short. Based on an average daily volume of 1,070,000 shares, the short-interest ratio is presently 7.7 days.

Insider Transactions at Altus Power

In related news, insider Anthony Savino sold 34,725 shares of Altus Power stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $7.02, for a total transaction of $243,769.50. Following the transaction, the insider now directly owns 3,907,536 shares of the company’s stock, valued at $27,430,902.72. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Anthony Savino sold 34,725 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $7.02, for a total value of $243,769.50. Following the completion of the transaction, the insider now directly owns 3,907,536 shares of the company’s stock, valued at approximately $27,430,902.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Dustin Weber sold 4,350 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $7.15, for a total value of $31,102.50. Following the sale, the chief financial officer now directly owns 1,884,926 shares in the company, valued at approximately $13,477,220.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,673 shares of company stock valued at $530,948. Company insiders own 31.55% of the company’s stock.

Institutional Investors Weigh In On Altus Power

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Altus Power by 88.2% in the first quarter. BlackRock Inc. now owns 5,447,065 shares of the company’s stock worth $29,850,000 after acquiring an additional 2,553,284 shares during the last quarter. Vanguard Group Inc. purchased a new position in shares of Altus Power in the first quarter worth about $12,973,000. State Street Corp lifted its stake in shares of Altus Power by 1,231.0% in the second quarter. State Street Corp now owns 1,699,411 shares of the company’s stock worth $10,723,000 after buying an additional 1,571,727 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Altus Power by 360.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,529,144 shares of the company’s stock worth $10,445,000 after acquiring an additional 1,196,891 shares during the last quarter. Finally, Handelsbanken Fonder AB purchased a new stake in Altus Power during the 4th quarter valued at about $5,298,000. 46.55% of the stock is currently owned by institutional investors and hedge funds.

Altus Power Trading Down 5.8 %

Shares of AMPS stock traded down $0.23 during mid-day trading on Wednesday, hitting $3.72. 1,975,079 shares of the stock were exchanged, compared to its average volume of 941,258. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 2.33. Altus Power has a 52-week low of $3.66 and a 52-week high of $7.28. The firm has a fifty day moving average of $5.68 and a 200 day moving average of $5.60.

Altus Power (NYSE:AMPS) last released its quarterly earnings results on Thursday, March 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The company had revenue of $34.19 million during the quarter, compared to analyst estimates of $42.85 million. Altus Power had a negative net margin of 6.03% and a negative return on equity of 0.30%. Analysts predict that Altus Power will post -0.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AMPS has been the subject of several analyst reports. Roth Mkm decreased their price objective on Altus Power from $8.00 to $7.00 and set a “buy” rating for the company in a report on Friday, March 15th. Morgan Stanley reissued an “overweight” rating and set a $9.00 target price on shares of Altus Power in a report on Thursday, April 11th. Maxim Group started coverage on shares of Altus Power in a report on Wednesday, April 10th. They issued a “buy” rating and a $7.00 price target on the stock. Finally, B. Riley lifted their price objective on Altus Power from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $8.63.

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.