Altus Power, Inc. (NYSE:AMPS) Short Interest Down 19.2% in October

Altus Power, Inc. (NYSE:AMPS) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 7,760,000 shares, a decrease of 19.2% from the October 15th total of 9,600,000 shares. Approximately 8.5% of the company’s stock are short sold. Based on an average daily volume of 1,070,000 shares, the short-interest ratio is currently 7.3 days.

Altus Power Stock Performance

NYSE:AMPS traded down $0.25 during mid-day trading on Friday, hitting $3.85. The stock had a trading volume of 1,033,961 shares, compared to its average volume of 1,242,123. The company has a current ratio of 0.60, a quick ratio of 0.91 and a debt-to-equity ratio of 2.10. The company has a 50 day simple moving average of $3.35 and a 200-day simple moving average of $3.70. The stock has a market capitalization of $619.04 million, a price-to-earnings ratio of 17.50 and a beta of 0.94. Altus Power has a 52 week low of $2.71 and a 52 week high of $7.28.

Institutional Investors Weigh In On Altus Power

Hedge funds have recently made changes to their positions in the business. Barclays PLC increased its holdings in shares of Altus Power by 312.8% during the third quarter. Barclays PLC now owns 115,987 shares of the company’s stock valued at $369,000 after purchasing an additional 87,886 shares during the period. XTX Topco Ltd acquired a new position in Altus Power during the 3rd quarter valued at about $425,000. State Street Corp increased its stake in Altus Power by 0.6% during the 3rd quarter. State Street Corp now owns 3,682,864 shares of the company’s stock valued at $11,712,000 after buying an additional 21,312 shares during the period. Janus Henderson Group PLC raised its position in shares of Altus Power by 9.0% during the 3rd quarter. Janus Henderson Group PLC now owns 44,792 shares of the company’s stock worth $142,000 after buying an additional 3,709 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new stake in shares of Altus Power in the 3rd quarter worth approximately $41,000. Institutional investors own 46.55% of the company’s stock.

Wall Street Analysts Forecast Growth

AMPS has been the topic of a number of recent analyst reports. Citigroup cut 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. UBS Group cut their target price on Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Roth Mkm reissued a “buy” rating and set a $4.50 price target on shares of Altus Power in a research report on Wednesday, October 16th. Morgan Stanley lowered Altus Power from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $8.00 to $4.00 in a research report on Wednesday, August 21st. Finally, Maxim Group dropped their price target on Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a research report on Monday, August 12th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $5.81.

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.