Ameresco, Inc. (NYSE:AMRC) Sees Significant Drop in Short Interest

Ameresco, Inc. (NYSE:AMRC) was the target of a significant drop in short interest in the month of June. As of June 15th, there was short interest totalling 4,030,000 shares, a drop of 7.6% from the May 31st total of 4,360,000 shares. Approximately 12.6% of the company’s stock are sold short. Based on an average trading volume of 501,600 shares, the short-interest ratio is currently 8.0 days.

Ameresco Trading Up 0.9 %

Shares of AMRC stock traded up $0.24 during mid-day trading on Wednesday, reaching $27.14. 364,772 shares of the stock traded hands, compared to its average volume of 525,292. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 0.83 and a beta of 1.78. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The stock’s fifty day simple moving average is $29.81 and its two-hundred day simple moving average is $25.69. Ameresco has a 1-year low of $17.55 and a 1-year high of $63.19.

Ameresco (NYSE:AMRC) last posted its earnings results on Tuesday, May 7th. The utilities provider reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. The firm had revenue of $298.41 million for the quarter, compared to analyst estimates of $255.38 million. Ameresco had a net margin of 4.17% and a return on equity of 6.67%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 EPS. On average, research analysts anticipate that Ameresco will post 1.38 EPS for the current fiscal year.

Analysts Set New Price Targets

AMRC has been the subject of several research reports. Robert W. Baird raised their price target on Ameresco from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Stifel Nicolaus lowered their price objective on Ameresco from $35.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. BNP Paribas upgraded shares of Ameresco from a “neutral” rating to an “outperform” rating and set a $34.00 target price on the stock in a research report on Tuesday, March 12th. Piper Sandler dropped their price target on shares of Ameresco from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, April 11th. Finally, Oppenheimer restated a “market perform” rating on shares of Ameresco in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.31.

Insider Buying and Selling

In other Ameresco news, CAO Mark Chiplock sold 3,000 shares of Ameresco stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $35.00, for a total value of $105,000.00. Following the sale, the chief accounting officer now owns 348 shares of the company’s stock, valued at approximately $12,180. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 42.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ameresco

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its position in Ameresco by 1,215.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,117 shares of the utilities provider’s stock valued at $90,000 after purchasing an additional 2,880 shares during the period. Clean Yield Group increased its position in shares of Ameresco by 65.3% during the first quarter. Clean Yield Group now owns 168,920 shares of the utilities provider’s stock worth $4,076,000 after buying an additional 66,706 shares during the period. Invst LLC bought a new position in Ameresco during the first quarter worth $225,000. Redwood Grove Capital LLC acquired a new position in Ameresco in the first quarter valued at $7,170,000. Finally, Swedbank AB bought a new stake in Ameresco during the first quarter valued at $12,065,000. Institutional investors and hedge funds own 99.24% of the company’s stock.

Ameresco Company Profile

Ameresco, Inc, a clean technology integrator, provides a portfolio of energy efficiency and renewable energy supply solutions in the United States, Canada, Europe, and internationally. It operates through U.S. Regions, U.S. Federal, Canada, Europe, Alternative Fuels, and All Other segments. The company offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions for businesses and organizations.