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

Altus Power, Inc. (NYSE:AMPS) was the target of a significant 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 shares are short sold. Based on an average trading volume of 1,150,000 shares, the short-interest ratio is presently 6.6 days.

Wall Street Analyst Weigh In

AMPS has been the subject of several analyst reports. Maxim Group started coverage on shares of Altus Power in a research note on Wednesday, April 10th. They issued a “buy” rating and a $7.00 price objective for the company. JPMorgan Chase & Co. downgraded shares of Altus Power from an “overweight” rating to a “neutral” rating in a report on Wednesday, May 15th. Evercore ISI cut their price objective on shares of Altus Power from $9.00 to $7.00 and set an “outperform” rating for the company in a research report on Wednesday, May 15th. B. Riley raised Altus Power to a “strong-buy” rating in a research report on Tuesday, June 25th. Finally, Seaport Res Ptn raised Altus Power to a “strong-buy” rating in a report on Monday, June 3rd. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $7.50.

Altus Power Stock Down 7.3 %

Shares of AMPS opened at $3.92 on Monday. The stock has a 50 day simple moving average of $4.10 and a 200-day simple moving average of $5.20. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.48 and a quick ratio of 1.48. Altus Power has a 1 year low of $3.40 and a 1 year high of $7.28.

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

Insider Transactions at Altus Power

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

Institutional Trading of Altus Power

Several large investors have recently added to or reduced their stakes in AMPS. Swedbank AB bought a new stake in Altus Power during the 1st quarter worth approximately $12,589,000. Levin Capital Strategies L.P. bought a new stake in shares of Altus Power during the first quarter worth $143,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Altus Power in the first quarter valued at $88,000. Janus Henderson Group PLC raised its holdings in shares of Altus Power by 196.6% in the first quarter. Janus Henderson Group PLC now owns 68,309 shares of the company’s stock valued at $326,000 after buying an additional 45,276 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in 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 worth $212,000 after buying an additional 3,116 shares in the last quarter. 46.55% of the stock is owned by institutional investors.

Altus Power Company Profile

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.