Short Interest in Ameresco Inc (NYSE:AMRC) Rises By 32.8%

Ameresco Inc (NYSE:AMRC) was the recipient of a significant increase in short interest during the month of June. As of June 30th, there was short interest totalling 976,200 shares, an increase of 32.8% from the May 30th total of 734,900 shares. Based on an average daily trading volume, of 129,400 shares, the days-to-cover ratio is currently 7.5 days. Currently, 5.4% of the company’s stock are sold short.

Shares of NYSE AMRC opened at $14.29 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.28. The business’s 50 day simple moving average is $14.53. The firm has a market capitalization of $692.68 million, a P/E ratio of 21.65, a PEG ratio of 1.05 and a beta of 0.52. Ameresco has a 12-month low of $11.73 and a 12-month high of $18.05.

Ameresco (NYSE:AMRC) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.02. The business had revenue of $150.10 million during the quarter, compared to the consensus estimate of $150.29 million. Ameresco had a return on equity of 8.44% and a net margin of 4.57%. The business’s revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 earnings per share. As a group, equities research analysts forecast that Ameresco will post 0.78 earnings per share for the current year.

In related news, Director Nickolas Stavropoulos bought 4,000 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was bought at an average cost of $15.19 per share, for a total transaction of $60,760.00. Following the completion of the purchase, the director now directly owns 4,000 shares in the company, valued at approximately $60,760. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David J. Corrsin sold 1,756 shares of Ameresco stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $16.50, for a total value of $28,974.00. Following the completion of the transaction, the executive vice president now owns 1,038,872 shares of the company’s stock, valued at $17,141,388. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,756 shares of company stock valued at $854,834. 57.93% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of AMRC. BNP Paribas Arbitrage SA boosted its position in shares of Ameresco by 508.8% during the first quarter. BNP Paribas Arbitrage SA now owns 3,945 shares of the utilities provider’s stock worth $64,000 after buying an additional 3,297 shares during the period. Meeder Asset Management Inc. boosted its position in shares of Ameresco by 134.0% during the first quarter. Meeder Asset Management Inc. now owns 4,205 shares of the utilities provider’s stock worth $68,000 after buying an additional 2,408 shares during the period. Advisor Group Inc. acquired a new position in shares of Ameresco during the fourth quarter worth approximately $75,000. Metropolitan Life Insurance Co. NY acquired a new position in shares of Ameresco during the fourth quarter worth approximately $99,000. Finally, MetLife Investment Advisors LLC acquired a new position in shares of Ameresco during the fourth quarter worth approximately $136,000. Institutional investors and hedge funds own 28.92% of the company’s stock.

Separately, Zacks Investment Research downgraded W. R. Grace & Co from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Ameresco presently has a consensus rating of “Buy” and a consensus price target of $18.50.

About Ameresco

Ameresco, Inc provides comprehensive energy services for businesses and organizations in North America and Europe. It offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions. The company operates through U.S. Regions, U.S.

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