Short Interest in Altus Power, Inc. (NYSE:AMPS) Expands By 7.6%

Altus Power, Inc. (NYSE:AMPS) was the recipient of a significant growth in short interest during 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. Approximately 10.1% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake 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 acquiring an additional 3,116 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Altus Power by 9.0% during the third quarter. Janus Henderson Group PLC now owns 44,792 shares of the company’s stock worth $142,000 after purchasing an additional 3,709 shares during the last quarter. HTG Investment Advisors Inc. increased its position in shares of Altus Power by 8.6% during the third quarter. HTG Investment Advisors Inc. now owns 65,148 shares of the company’s stock worth $207,000 after purchasing an additional 5,148 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Altus Power by 24.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,771 shares of the company’s stock valued at $125,000 after purchasing an additional 6,209 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Altus Power by 14.3% in the 2nd quarter. American Century Companies Inc. now owns 72,322 shares of the company’s stock valued at $284,000 after purchasing an additional 9,062 shares during the period. Institutional investors and hedge funds own 46.55% of the company’s stock.

Altus Power Price Performance

AMPS remained flat at $3.81 on Tuesday. The company had a trading volume of 1,058,081 shares, compared to its average volume of 1,075,608. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10. Altus Power has a 52-week low of $2.71 and a 52-week high of $7.28. The business has a fifty day simple moving average of $3.68 and a 200 day simple moving average of $3.68. The company has a market capitalization of $612.63 million, a P/E ratio of 17.32 and a beta of 1.04.

Analyst Ratings Changes

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

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.