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

Altus Power, Inc. (NYSE:AMPSGet Rating) was the target of a significant drop in short interest during the month of December. As of December 30th, there was short interest totalling 2,850,000 shares, a drop of 8.9% from the December 15th total of 3,130,000 shares. Based on an average trading volume of 996,600 shares, the short-interest ratio is presently 2.9 days. Approximately 4.8% of the shares of the stock are sold short.

Institutional Investors Weigh In On Altus Power

Several hedge funds have recently modified their holdings of AMPS. Vanguard Group Inc. purchased a new stake in Altus Power during the 1st quarter worth approximately $12,973,000. State Street Corp increased its holdings in Altus Power by 1,231.0% during the 2nd quarter. State Street Corp now owns 1,699,411 shares of the company’s stock worth $10,723,000 after purchasing an additional 1,571,727 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Altus Power in the 3rd quarter worth approximately $11,025,000. Point72 Asset Management L.P. grew its position in shares of Altus Power by 1,188.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 752,500 shares of the company’s stock worth $8,285,000 after acquiring an additional 694,100 shares in the last quarter. Finally, Encompass Capital Advisors LLC grew its position in shares of Altus Power by 42.2% in the 3rd quarter. Encompass Capital Advisors LLC now owns 2,216,144 shares of the company’s stock worth $24,400,000 after acquiring an additional 657,665 shares in the last quarter. 43.73% of the stock is currently owned by hedge funds and other institutional investors.

Altus Power Trading Down 0.5 %

Shares of Altus Power stock traded down $0.04 during trading hours on Tuesday, reaching $8.30. The stock had a trading volume of 245,089 shares, compared to its average volume of 870,686. The firm has a 50 day simple moving average of $7.03 and a two-hundred day simple moving average of $8.77. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -418.79 and a beta of 0.46. The company has a current ratio of 9.66, a quick ratio of 9.66 and a debt-to-equity ratio of 1.46. Altus Power has a 1 year low of $4.26 and a 1 year high of $14.72.

Altus Power (NYSE:AMPSGet Rating) last released its quarterly earnings data on Monday, November 14th. The company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. The company had revenue of $30.44 million for the quarter, compared to the consensus estimate of $26.63 million. Altus Power had a negative return on equity of 0.54% and a negative net margin of 5.48%. As a group, equities research analysts anticipate that Altus Power will post 0.01 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on the company. UBS Group assumed coverage on Altus Power in a research note on Tuesday, October 25th. They set a “buy” rating and a $14.00 price objective on the stock. Morgan Stanley raised Altus Power from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $14.00 to $12.00 in a research note on Tuesday, January 10th. Citigroup decreased their price objective on Altus Power from $11.00 to $10.00 in a research note on Tuesday, December 13th. TheStreet lowered Altus Power from a “c-” rating to a “d” rating in a research note on Wednesday, November 23rd. Finally, Evercore ISI started coverage on Altus Power in a research note on Wednesday, January 4th. They issued an “outperform” rating and a $15.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Altus Power currently has an average rating of “Moderate Buy” and a consensus target price of $12.20.

About Altus Power

(Get Rating)

Altus Power, Inc, a clean electrification company, originates, develops, owns, and operates roof, ground, and carport-based photovoltaic solar energy generation and storage systems. The company serves commercial, industrial, public sector, and community solar customers. Altus Power, Inc was founded in 2013 and is based in Stamford, Connecticut.

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