Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Altus Power Inc shares valued at $274,520 were sold by NORELL LARS on Mar 01 ’24. At $6.86 per share, NORELL LARS sold 40,000 shares. The insider’s holdings dropped to 21,614,907 shares worth approximately $103.1 million following the completion of this transaction.
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Also, Savino Anthony sold 4,598 shares, netting a total of over 32,876 in proceeds. Following the sale of shares at $7.15 each, the insider now holds 3,887,663 shares.
Before that, Weber Dustin had sold 4,350 shares from its account. In a trade valued at $31,102, the CHIEF FINANCIAL OFFICER traded Altus Power Inc shares for $7.15 each. Upon closing the transaction, the insider’s holdings decreased to 4,350 shares, worth approximately $8.99 million.
As published in their initiating research note from Northland Capital on November 30, 2023, Altus Power Inc [AMPS] has been an Outperform and the price target has been revised to $10. As of January 10, 2023, Morgan Stanley has increased its “an Equal-weight” rating to a “an Overweight” for AMPS. Earlier on January 04, 2023, Evercore ISI initiated its rating. Their recommendation was “an Outperform” for AMPS stock.
Analyzing AMPS Stock Performance
During the last five days, there has been a surge of approximately 1.27%. Over the course of the year, Altus Power Inc shares have dropped approximately -30.16%. Shares of the company reached a 52-week high of $7.28 on 02/15/24 and a 52-week low of $4.31 on 03/15/24. A 50-day SMA is recorded $5.93, while a 200-day SMA reached $5.80. Nevertheless, trading volume fell to 0.9 million shares from 0.79 million shares the previous day.
Support And Resistance Levels for Altus Power Inc (AMPS)
According to the 24-hour chart, there is a support level at 4.59, which, if violated, would cause prices to drop to 4.41. In the upper region, resistance lies at 4.87. The next price resistance is at 4.97. RSI (Relative Strength Index) is 37.46 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.61, which suggests the price will decrease in the coming days. Percent R is at 81.82%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Altus Power Inc subject to short interest?
Stocks of Altus Power Inc saw a sharp rise in short interest on Feb 29, 2024 jumping by 0.63 million shares to 7.9 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 7.27 million shares. A jump of 7.97% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 8.28 of the overall float, the days-to-cover ratio (short ratio) jumped to 8.28.
