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

Ameresco, Inc. (NYSE:AMRC) saw a significant drop in short interest during 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. Based on an average daily volume of 501,600 shares, the days-to-cover ratio is presently 8.0 days. Currently, 12.6% of the shares of the company are short sold.

Ameresco Price Performance

Shares of AMRC traded up $1.08 during trading hours on Wednesday, reaching $27.98. 75,062 shares of the company traded hands, compared to its average volume of 523,011. The stock has a fifty day simple moving average of $29.81 and a 200 day simple moving average of $25.69. Ameresco has a fifty-two week low of $17.55 and a fifty-two week high of $63.19. The stock has a market capitalization of $1.46 billion, a PE ratio of 24.74, 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.

Ameresco (NYSE:AMRC) last announced its quarterly earnings data on Tuesday, May 7th. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.01. The business had revenue of $298.41 million for the quarter, compared to the consensus estimate of $255.38 million. Ameresco had a net margin of 4.17% and a return on equity of 6.67%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 earnings per share. As a group, research analysts predict that Ameresco will post 1.38 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on AMRC. Piper Sandler lowered their price target on Ameresco from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, April 11th. BNP Paribas raised Ameresco from a “neutral” rating to an “outperform” rating and set a $34.00 price objective on the stock in a report on Tuesday, March 12th. Stifel Nicolaus lowered their price objective on Ameresco from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Truist Financial lowered their price objective on Ameresco from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Finally, Robert W. Baird lifted their price objective on Ameresco from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Ameresco currently has an average rating of “Moderate Buy” and a consensus price target of $40.31.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Ameresco

Several large investors have recently added to or reduced their stakes in AMRC. Quest Partners LLC acquired a new position in Ameresco in the fourth quarter valued at $62,000. GAMMA Investing LLC grew its holdings in shares of Ameresco by 1,215.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,117 shares of the utilities provider’s stock worth $90,000 after purchasing an additional 2,880 shares during the period. Cetera Trust Company N.A acquired a new stake in Ameresco during the 4th quarter worth approximately $106,000. Dynamic Advisor Solutions LLC raised its holdings in Ameresco by 24.6% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 8,672 shares of the utilities provider’s stock valued at $275,000 after buying an additional 1,712 shares during the period. Finally, Invst LLC acquired a new position in Ameresco during the first quarter valued at approximately $225,000. 99.24% of the stock is currently owned by hedge funds and other institutional investors.

About Ameresco

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.