Altus Power Inc. (AMPS) may enjoy gains as insiders got busy in the recent days


Altus Power Inc.’s filing revealed that its COFOUNDER,CHIEF CONST. OFFICER Savino Anthony unloaded Company’s shares for reported $34965.0 on Feb 16. In the deal valued at $7.40 per share,4,725 shares were sold. As a result of this transaction, Savino Anthony now holds 3,871,708 shares worth roughly $ 24.78 million.

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Then, Weber Dustin sold 4,470 shares, generating $33,078 in total proceeds. Upon selling the shares at $7.40, the CHIEF FINANCIAL OFFICER now owns 2,009,568 shares.

Before that, GSO Altus Holdings LP sold 7,000,000 shares. Altus Power Inc. shares valued at $77,070,000 were divested by the 10% Owner at a price of $11.01 per share. As a result of the transaction, GSO Altus Holdings LP now holds 21,825,125 shares, worth roughly $139.68 million.

Morgan Stanley upgraded its Altus Power Inc. [AMPS] rating to an Overweight from a an Equal-weight in a research note published on Monday. PT values the company’s stock at a premium of 46.67 to its Monday closing price. A number of analysts have revised their coverage, including Evercore ISI’s analysts, who began to cover the stock in early January with a ‘”an Outperform”‘ rating. JP Morgan also remained covering AMPS and has increased its forecast on November 14, 2022 with a “an Overweight” recommendation from previously “Neutral” rating. UBS started covering the stock on October 25, 2022. It rated AMPS as “a Buy”.

Price Performance Review of AMPS

On Monday, Altus Power Inc. [NYSE:AMPS] saw its stock fall -3.61% to $6.40. On the same session, the stock had its day’s lowest price of $6.33, but rose to a high of $6.80. Over the last five days, the stock has lost -10.36%. Altus Power Inc. shares have fallen nearly -1.84% since the year began. Nevertheless, the stocks have fallen -20.69% over the past one year. While a 52-week high of $14.72 was reached on 01/12/23, a 52-week low of $4.26 was recorded on 01/03/23. SMA at 50 days reached $7.39, while 200 days put it at $8.32. A total of 1.18 million shares were traded, compared to the trading of 0.87 million shares in the previous session.

Levels Of Support And Resistance For AMPS Stock

The 24-hour chart illustrates a support level at 6.22, which if violated will result in even more drops to 6.04. On the upside, there is a resistance level at 6.69. A further resistance level may holdings at 6.98. The Relative Strength Index (RSI) on the 14-day chart is 35.83, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.16, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 93.49%. Stochastics %K at 28.06% indicates the stock is a holding.

How much short interest is there in Altus Power Inc.?

A steep rise in short interest was recorded in Altus Power Inc. stocks on Jan 30, 2023, growing by 0.24 million shares to a total of 3.09 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 2.85 million shares. There was a rise of 7.77%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 6.94% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.76.

Altus Power Inc. [AMPS] – Who Are The Largest Shareholders?

In filings from Blackstone Alternative Credit Adv, it is revealed that the company now owns 20,775,125 shares, or roughly 13.07% of the outstanding AMPS shares. In other words, the investor’s shares have fallen by -1,050,000 from its previous 13-F filing of 21825125.0. Additionally, Invesco Capital Management LLC increased 11.87% of its stake after which the total value it holdings stand at $28,665,595. Over the last quarter, Hood River Capital Management LLC purchased 1,143,727 shares of Altus Power Inc., while Liberty Mutual Insurance Co. bought 0 shares. At present, SSgA Funds Management, Inc. is holding 2,917,912 shares valued at $19.75 million. BlackRock Fund Advisors owned 2,590,010 shares of the company at the time of its most recent 13F filing, worth $17.53 million.

According to FactSet, Altus Power Inc.’s share price will average $12.29 in the next year, based on opinions of analysts polled by the firm. This is up nearly 80.72 percent from its previous closing price of $6.64. Analysts expect Altus Power Inc. stock to reach the higher price of $15.00, while the lowest price estimate is $10.00. However, 7 analysts have rated AMPS stock as a Buy in their predictions for 2023. The most recent change occurred on July 18, 2022 when JP Morgan began covering the stock and recommended ‘”a Neutral”‘ rating along with a $9 price target.


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