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

Altus Power, Inc. (NYSE:AMPS) was the target of a large decrease in short interest during the month of February. As of February 15th, there was short interest totalling 5,080,000 shares, a decrease of 34.0% from the January 31st total of 7,700,000 shares. Currently, 4.8% of the company’s stock are short sold. Based on an average trading volume of 2,720,000 shares, the short-interest ratio is currently 1.9 days.

Insider Activity

In related news, CEO Gregg J. Felton sold 71,161 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total transaction of $349,400.51. Following the completion of the sale, the chief executive officer now owns 4,023,696 shares in the company, valued at $19,756,347.36. This represents a 1.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Anthony Savino sold 8,823 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total value of $43,320.93. Following the sale, the insider now owns 4,088,231 shares of the company’s stock, valued at approximately $20,073,214.21. The trade was a 0.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,146 shares of company stock valued at $437,707. Insiders own 24.30% of the company’s stock.

Institutional Investors Weigh In On Altus Power

A number of hedge funds and other institutional investors have recently bought and sold shares of AMPS. abrdn plc increased its holdings in Altus Power by 8.7% during the 3rd quarter. abrdn plc now owns 1,444,400 shares of the company’s stock valued at $4,593,000 after purchasing an additional 115,300 shares in the last quarter. HTG Investment Advisors Inc. increased its holdings in Altus Power by 8.6% during the 3rd quarter. HTG Investment Advisors Inc. now owns 65,148 shares of the company’s stock valued at $207,000 after purchasing an additional 5,148 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Altus Power during the 3rd quarter valued at $286,000. Intech Investment Management LLC acquired a new stake in Altus Power during the 3rd quarter valued at $86,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Altus Power by 4.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 312,205 shares of the company’s stock valued at $993,000 after purchasing an additional 14,492 shares in the last quarter. 46.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMPS has been the subject of a number of research reports. Seaport Res Ptn downgraded Altus Power from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. UBS Group downgraded Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price objective 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 price objective for the company in a research report on Thursday, February 6th. Finally, B. Riley downgraded 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 report on Friday, February 7th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.06.

Altus Power Price Performance

Altus Power stock opened at $4.93 on Friday. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.60 and a quick ratio of 0.60. The company has a market capitalization of $791.92 million, a PE ratio of 22.39 and a beta of 1.05. Altus Power has a one year low of $2.71 and a one year high of $7.01. The business has a 50 day simple moving average of $4.30 and a 200 day simple moving average of $3.75.

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.