Ameresco, Inc. (NYSE:AMRC) Short Interest Update

Ameresco, Inc. (NYSE:AMRC) saw a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 4,030,000 shares, a decrease 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 currently 8.0 days. Currently, 12.6% of the company’s shares are short sold.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Trustees of Princeton University bought a new stake in Ameresco during the fourth quarter worth about $7,170,000. Wellington Management Group LLP raised its stake in shares of Ameresco by 17.8% during the third quarter. Wellington Management Group LLP now owns 1,169,158 shares of the utilities provider’s stock worth $45,083,000 after acquiring an additional 176,971 shares in the last quarter. Rock Point Advisors LLC lifted its holdings in shares of Ameresco by 97.8% in the 4th quarter. Rock Point Advisors LLC now owns 255,312 shares of the utilities provider’s stock worth $8,086,000 after acquiring an additional 126,204 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Ameresco by 59.9% in the 4th quarter. First Trust Advisors LP now owns 793,437 shares of the utilities provider’s stock valued at $25,128,000 after purchasing an additional 297,236 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Ameresco by 16.6% during the 3rd quarter. Deutsche Bank AG now owns 17,058 shares of the utilities provider’s stock valued at $658,000 after purchasing an additional 2,426 shares during the last quarter. 99.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMRC. StockNews.com upgraded Ameresco to a “sell” rating in a report on Monday. Oppenheimer restated a “market perform” rating on shares of Ameresco in a report on Wednesday, April 17th. Truist Financial lowered their price target on Ameresco from $40.00 to $37.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Piper Sandler lowered their target price on shares of Ameresco from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, April 11th. Finally, Stifel Nicolaus decreased their price objective on shares of Ameresco from $35.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.31.

Ameresco Stock Performance

NYSE:AMRC traded up $0.24 on Wednesday, reaching $27.14. 364,772 shares of the company’s stock were exchanged, compared to its average volume of 525,292. 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 52 week low of $17.55 and a 52 week high of $63.19. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.96. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 25.44, a P/E/G ratio of 0.83 and a beta of 1.78.

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

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.