Ameresco (NYSE:AMRC) Shares Gap Up – Still a Buy?

Ameresco, Inc. (NYSE:AMRC)’s share price gapped up before the market opened on Monday . The stock had previously closed at $25.49, but opened at $27.39. Ameresco shares last traded at $27.10, with a volume of 53,238 shares trading hands.

Wall Street Analyst Weigh In

AMRC has been the subject of several research analyst reports. Stifel Nicolaus boosted their price objective on Ameresco from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Jefferies Financial Group started coverage on shares of Ameresco in a research note on Wednesday, September 4th. They issued a “hold” rating and a $33.00 price target on the stock. Robert W. Baird upped their target price on shares of Ameresco from $32.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. StockNews.com raised Ameresco to a “sell” rating in a research note on Tuesday, November 12th. Finally, Piper Sandler upped their price objective on Ameresco from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ameresco has a consensus rating of “Moderate Buy” and an average price target of $36.91.

Ameresco Stock Up 9.4 %

The stock’s fifty day simple moving average is $32.98 and its two-hundred day simple moving average is $31.18. The stock has a market capitalization of $1.46 billion, a P/E ratio of 27.50, a price-to-earnings-growth ratio of 0.85 and a beta of 1.82. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.00 and a current ratio of 1.27.

Institutional Trading of Ameresco

Institutional investors have recently modified their holdings of the business. Blue Trust Inc. lifted its holdings in Ameresco by 100.3% during the 3rd quarter. Blue Trust Inc. now owns 781 shares of the utilities provider’s stock worth $30,000 after buying an additional 391 shares during the period. nVerses Capital LLC acquired a new position in shares of Ameresco in the second quarter worth approximately $75,000. Point72 DIFC Ltd bought a new stake in Ameresco in the second quarter valued at approximately $86,000. GAMMA Investing LLC boosted its holdings in Ameresco by 1,215.2% in the second quarter. GAMMA Investing LLC now owns 3,117 shares of the utilities provider’s stock valued at $90,000 after acquiring an additional 2,880 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in Ameresco by 1,294.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,455 shares of the utilities provider’s stock valued at $93,000 after purchasing an additional 2,279 shares during the period. Institutional investors 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.