Altus Power, Inc. (NYSE:AMPS) Sees Large Growth in Short Interest

Altus Power, Inc. (NYSE:AMPS) saw a large increase in short interest in June. As of June 15th, there was short interest totalling 7,570,000 shares, an increase of 15.7% from the May 31st total of 6,540,000 shares. Approximately 8.5% of the company’s stock are sold short. Based on an average daily trading volume, of 1,150,000 shares, the days-to-cover ratio is currently 6.6 days.

Analyst Upgrades and Downgrades

AMPS has been the subject of a number of recent analyst reports. B. Riley raised Altus Power to a “strong-buy” rating in a report on Tuesday, June 25th. Roth Mkm lowered their price target on Altus Power from $7.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, May 16th. Maxim Group began coverage on shares of Altus Power in a research report on Wednesday, April 10th. They set a “buy” rating and a $7.00 price objective for the company. Evercore ISI lowered their target price on shares of Altus Power from $9.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, May 15th. Finally, Seaport Res Ptn upgraded shares of Altus Power to a “strong-buy” rating in a research note on Monday, June 3rd. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $7.50.

Insiders Place Their Bets

In related news, CEO Gregg J. Felton acquired 34,139 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were acquired at an average price of $3.99 per share, with a total value of $136,214.61. Following the completion of the transaction, the chief executive officer now owns 12,044,603 shares of the company’s stock, valued at $48,057,965.97. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Gregg J. Felton acquired 82,576 shares of Altus Power stock in a transaction dated Friday, May 31st. The shares were acquired at an average cost of $3.90 per share, for a total transaction of $322,046.40. Following the acquisition, the chief executive officer now owns 11,977,179 shares of the company’s stock, valued at $46,710,998.10. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Gregg J. Felton acquired 34,139 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were purchased at an average cost of $3.99 per share, with a total value of $136,214.61. Following the completion of the transaction, the chief executive officer now owns 12,044,603 shares in the company, valued at approximately $48,057,965.97. The disclosure for this purchase can be found here. 24.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AMPS. Edmond DE Rothschild Holding S.A. grew its holdings in Altus Power by 1.0% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 310,000 shares of the company’s stock valued at $2,117,000 after purchasing an additional 3,000 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Altus Power by 7.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,257 shares of the company’s stock valued at $212,000 after buying an additional 3,116 shares during the period. AXQ Capital LP increased its holdings in shares of Altus Power by 25.5% during the 3rd quarter. AXQ Capital LP now owns 21,078 shares of the company’s stock worth $111,000 after buying an additional 4,278 shares during the last quarter. Bouvel Investment Partners LLC raised its position in shares of Altus Power by 1.5% in the 4th quarter. Bouvel Investment Partners LLC now owns 297,378 shares of the company’s stock worth $2,031,000 after buying an additional 4,495 shares during the period. Finally, ANTIPODES PARTNERS Ltd boosted its holdings in Altus Power by 18.0% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 30,082 shares of the company’s stock valued at $205,000 after acquiring an additional 4,579 shares during the last quarter. Institutional investors and hedge funds own 46.55% of the company’s stock.

Altus Power Price Performance

AMPS stock opened at $3.92 on Monday. The company has a 50 day moving average price of $4.10 and a two-hundred day moving average price of $5.20. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.47. Altus Power has a one year low of $3.40 and a one year high of $7.28.

Altus Power (NYSE:AMPS) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08). Altus Power had a negative return on equity of 1.37% and a negative net margin of 4.48%. The business had revenue of $40.66 million during the quarter, compared to the consensus estimate of $39.13 million. During the same quarter in the previous year, the business earned ($0.05) earnings per share. As a group, sell-side analysts forecast that Altus Power will post -0.07 EPS 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.