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

Altus Power, Inc. (NYSE:AMPS) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 9,220,000 shares, a growth of 7.6% from the November 15th total of 8,570,000 shares. Based on an average trading volume of 1,080,000 shares, the days-to-cover ratio is currently 8.5 days. Currently, 10.1% of the shares of the company are short sold.

Altus Power Stock Performance

NYSE:AMPS remained flat at $3.81 during mid-day trading on Tuesday. 1,058,081 shares of the company were exchanged, compared to its average volume of 1,075,608. Altus Power has a 1 year low of $2.71 and a 1 year high of $7.28. The firm’s fifty day moving average price is $3.68 and its 200 day moving average price is $3.68. The stock has a market cap of $612.63 million, a price-to-earnings ratio of 17.32 and a beta of 1.04. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Morgan Stanley cut shares of Altus Power from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $8.00 to $4.00 in a research note on Wednesday, August 21st. Citigroup lowered their price target on Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Roth Mkm restated a “buy” rating and issued a $4.50 price target on shares of Altus Power in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. cut Altus Power from a “neutral” rating to an “underweight” rating in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $5.21.

Hedge Funds Weigh In On Altus Power

A number of large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in shares of Altus Power by 37.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,974,269 shares of the company’s stock valued at $11,662,000 after buying an additional 807,071 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Altus Power by 112.1% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,411,042 shares of the company’s stock worth $5,531,000 after purchasing an additional 745,810 shares in the last quarter. Long Focus Capital Management LLC grew its stake in shares of Altus Power by 427.6% during the 2nd quarter. Long Focus Capital Management LLC now owns 549,081 shares of the company’s stock worth $2,152,000 after purchasing an additional 445,000 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in shares of Altus Power in the second quarter valued at about $1,085,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in Altus Power by 78.8% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 437,286 shares of the company’s stock worth $1,714,000 after buying an additional 192,687 shares in the last quarter. 46.55% of the stock is owned by hedge funds and other 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.