Altus Power, Inc. (NYSE:AMPS) Short Interest Up 10.4% in November

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AMPS. Morgan Stanley lowered Altus Power from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $8.00 to $4.00 in a report on Wednesday, August 21st. Citigroup lowered 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. Roth Mkm reissued a “buy” rating and set a $4.50 price target on shares of Altus Power in a report on Wednesday, October 16th. Maxim Group lowered their price objective on Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, UBS Group cut their target price on Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Altus Power presently has a consensus rating of “Buy” and a consensus price target of $5.21.

Institutional Investors Weigh In On Altus Power

Several institutional investors and hedge funds have recently made changes to their positions in AMPS. Summit Securities Group LLC purchased a new stake in shares of Altus Power in the second quarter valued at about $39,000. Iridian Asset Management LLC CT acquired a new position in shares of Altus Power during the 3rd quarter worth approximately $40,000. HighTower Advisors LLC purchased a new stake in Altus Power in the 3rd quarter valued at approximately $41,000. Vaughan David Investments LLC IL acquired a new stake in Altus Power during the 2nd quarter valued at $55,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Altus Power during the second quarter worth $68,000. 46.55% of the stock is currently owned by hedge funds and other institutional investors.

Altus Power Price Performance

AMPS traded down $0.09 during trading on Tuesday, reaching $3.95. 909,848 shares of the stock were exchanged, compared to its average volume of 1,146,593. Altus Power has a 1 year low of $2.71 and a 1 year high of $7.28. The company has a market capitalization of $635.16 million, a price-to-earnings ratio of 17.95 and a beta of 1.04. The business’s 50 day moving average price is $3.53 and its two-hundred day moving average price is $3.68. 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 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.