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

Altus Power, Inc. (NYSE:AMPS) was the recipient of a large increase in short interest in July. As of July 31st, there was short interest totalling 8,400,000 shares, an increase of 7.8% from the July 15th total of 7,790,000 shares. Approximately 9.2% of the shares of the stock are short sold. Based on an average daily volume of 1,040,000 shares, the days-to-cover ratio is currently 8.1 days.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMPS. UBS Group cut their price objective on Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a report on Friday, August 9th. Evercore ISI cut their price objective on Altus Power from $9.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, May 15th. Seaport Res Ptn upgraded Altus Power to a “strong-buy” rating in a report on Monday, June 3rd. B. Riley upgraded Altus Power to a “strong-buy” rating in a report on Tuesday, June 25th. Finally, Maxim Group cut their target price on Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a report on Monday, August 12th. One analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Altus Power currently has a consensus rating of “Buy” and a consensus target price of $6.63.

Altus Power Stock Performance

AMPS stock remained flat at $2.98 during trading on Friday. The company had a trading volume of 1,338,660 shares, compared to its average volume of 1,079,758. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.48 and a quick ratio of 1.48. The business’s fifty day simple moving average is $4.00 and its 200 day simple moving average is $4.65. The firm has a market capitalization of $478.80 million, a P/E ratio of -59.60 and a beta of 1.00. Altus Power has a fifty-two week low of $2.82 and a fifty-two week high of $7.28.

Insider Buying and Selling at Altus Power

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

Institutional Investors Weigh In On Altus Power

A number of institutional investors have recently added to or reduced their stakes in AMPS. Summit Securities Group LLC bought a new position in shares of Altus Power in the second quarter valued at approximately $39,000. Vaughan David Investments LLC IL bought a new position in shares of Altus Power in the second quarter valued at approximately $55,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Altus Power in the second quarter valued at approximately $68,000. Spinnaker Trust bought a new position in shares of Altus Power in the fourth quarter valued at approximately $69,000. Finally, Victory Capital Management Inc. bought a new position in shares of Altus Power in the fourth quarter valued at approximately $72,000. 46.55% of the stock is owned by institutional investors and hedge funds.

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.