Altus Power, Inc. (NYSE:AMPS) Short Interest Up 10.4% in November

Altus Power, Inc. (NYSE:AMPS) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 8,570,000 shares, a growth of 10.4% from the October 31st total of 7,760,000 shares. Based on an average daily trading volume, of 1,070,000 shares, the days-to-cover ratio is presently 8.0 days. Currently, 9.4% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AMPS. Morgan Stanley downgraded Altus Power from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $8.00 to $4.00 in a research report on Wednesday, August 21st. Citigroup decreased their price target on Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Roth Mkm restated a “buy” rating and issued a $4.50 price objective on shares of Altus Power in a research note on Wednesday, October 16th. UBS Group reduced their price objective on Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Maxim Group dropped 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. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $5.21.

Institutional Investors Weigh In On Altus Power

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Summit Securities Group LLC acquired a new position in Altus Power during the 2nd quarter worth about $39,000. Iridian Asset Management LLC CT acquired a new position in Altus Power during the 3rd quarter worth about $40,000. HighTower Advisors LLC purchased a new stake in Altus Power during the 3rd quarter worth about $41,000. Vaughan David Investments LLC IL purchased a new stake in Altus Power during the 2nd quarter worth about $55,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Altus Power in the 2nd quarter valued at about $68,000. Hedge funds and other institutional investors own 46.55% of the company’s stock.

Altus Power Trading Down 1.0 %

NYSE:AMPS traded down $0.04 on Wednesday, reaching $3.91. The company’s stock had a trading volume of 185,352 shares, compared to its average volume of 1,069,548. Altus Power has a 12-month low of $2.71 and a 12-month high of $7.28. 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 market cap of $628.73 million, a price-to-earnings ratio of 17.95 and a beta of 1.04. The stock has a 50 day moving average price of $3.54 and a 200 day moving average price of $3.68.

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.