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

Altus Power, Inc. (NYSE:AMPS) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 8,570,000 shares, an increase of 10.4% from the October 31st total of 7,760,000 shares. Based on an average daily trading volume, of 1,070,000 shares, the days-to-cover ratio is presently 8.0 days. Currently, 9.4% of the company’s shares are short sold.

Analyst Ratings Changes

AMPS has been the subject of several analyst reports. Maxim Group cut their price target on Altus Power from $5.50 to $4.50 and set a “buy” rating for the company in a report on Monday, August 12th. Citigroup reduced their target price on Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a research 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 report on Wednesday, October 16th. Morgan Stanley downgraded shares of Altus Power from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $8.00 to $4.00 in a research note on Wednesday, August 21st. Finally, UBS Group lowered their target price on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Altus Power currently has an average rating of “Buy” and an average price target of $5.21.

Hedge Funds Weigh In On Altus Power

A number of hedge funds have recently made changes to their positions in AMPS. Summit Securities Group LLC acquired a new position in Altus Power during the 2nd quarter worth approximately $39,000. Iridian Asset Management LLC CT purchased a new stake in shares of Altus Power during the third quarter valued at approximately $40,000. HighTower Advisors LLC acquired a new position in shares of Altus Power during the third quarter worth $41,000. Vaughan David Investments LLC IL purchased a new position in shares of Altus Power in the second quarter valued at $55,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Altus Power during the 2nd quarter valued at $68,000. Hedge funds and other institutional investors own 46.55% of the company’s stock.

Altus Power Trading Down 2.2 %

NYSE AMPS traded down $0.09 during mid-day trading on Tuesday, hitting $3.95. The company’s stock had a trading volume of 909,848 shares, compared to its average volume of 1,146,593. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.60 and a quick ratio of 0.60. Altus Power has a 52-week low of $2.71 and a 52-week high of $7.28. The stock’s fifty day simple moving average is $3.53 and its two-hundred day simple moving average is $3.68. The firm has a market capitalization of $635.16 million, a P/E ratio of 17.95 and a beta of 1.04.

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.