Altus Power, Inc. (NYSE:AMPS) Short Interest Up 7.8% in July

Altus Power, Inc. (NYSE:AMPS) was the recipient of a large increase in short interest during the month of 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. Currently, 9.2% of the shares of the stock are sold short. Based on an average trading volume of 1,040,000 shares, the days-to-cover ratio is currently 8.1 days.

Altus Power Price Performance

Altus Power stock traded up $0.19 during trading on Monday, reaching $3.17. The company had a trading volume of 1,028,596 shares, compared to its average volume of 1,079,224. The firm’s 50-day simple moving average is $4.00 and its 200 day simple moving average is $4.64. The company has a debt-to-equity ratio of 2.47, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a market capitalization of $509.33 million, a PE ratio of -63.20 and a beta of 1.00. Altus Power has a 1-year low of $2.82 and a 1-year high of $7.28.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AMPS. Evercore ISI lowered their target price on shares of Altus Power from $9.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday, May 15th. B. Riley upgraded Altus Power to a “strong-buy” rating in a report on Tuesday, June 25th. UBS Group decreased their price objective on Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Roth Mkm cut their target price on Altus Power from $5.00 to $4.50 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Maxim Group cut their price objective on shares of Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a research report on Monday, August 12th. One analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Altus Power has an average rating of “Buy” and an average target price of $6.63.

Insider Activity

In related news, CEO Gregg J. Felton purchased 34,139 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were purchased at an average price of $3.99 per share, with a total value of $136,214.61. Following 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 purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Gregg J. Felton acquired 34,139 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were purchased 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 owns 12,044,603 shares in the company, valued at $48,057,965.97. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gregg J. Felton bought 82,576 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was purchased at an average price of $3.90 per share, for a total transaction of $322,046.40. Following the acquisition, the chief executive officer now directly owns 11,977,179 shares of the company’s stock, valued at approximately $46,710,998.10. The disclosure for this purchase can be found here. Corporate insiders own 24.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Summit Securities Group LLC acquired a new stake in shares of Altus Power in the 2nd quarter valued at approximately $39,000. Vaughan David Investments LLC IL purchased a new stake in Altus Power in the 2nd quarter valued at approximately $55,000. Susquehanna Fundamental Investments LLC acquired a new stake in Altus Power during the 2nd quarter valued at $68,000. Spinnaker Trust purchased a new position in Altus Power during the fourth quarter worth $69,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Altus Power in the fourth quarter worth $72,000. 46.55% of the stock is owned by institutional investors and hedge funds.

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.