Short Interest in Ameresco, Inc. (NYSE:AMRC) Declines By 6.7%

Ameresco, Inc. (NYSE:AMRC) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 3,470,000 shares, a drop of 6.7% from the October 15th total of 3,720,000 shares. Based on an average daily volume of 341,000 shares, the days-to-cover ratio is currently 10.2 days. Currently, 10.9% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several research analysts have commented on AMRC shares. Piper Sandler raised their target price on shares of Ameresco from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Jefferies Financial Group assumed coverage on shares of Ameresco in a report on Wednesday, September 4th. They set a “hold” rating and a $33.00 price target on the stock. Stifel Nicolaus lifted their price target on shares of Ameresco from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, November 11th. UBS Group increased their target price on Ameresco from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, September 5th. Finally, StockNews.com upgraded shares of Ameresco to a “sell” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.91.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Ameresco by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,145,838 shares of the utilities provider’s stock worth $75,909,000 after purchasing an additional 36,303 shares during the last quarter. Wellington Management Group LLP grew its holdings in Ameresco by 81.3% during the third quarter. Wellington Management Group LLP now owns 1,004,902 shares of the utilities provider’s stock valued at $38,126,000 after purchasing an additional 450,571 shares during the period. Geode Capital Management LLC increased its stake in Ameresco by 1.4% in the third quarter. Geode Capital Management LLC now owns 754,775 shares of the utilities provider’s stock valued at $28,642,000 after purchasing an additional 10,197 shares in the last quarter. LGT Group Foundation acquired a new stake in Ameresco in the second quarter worth $20,325,000. Finally, Swedbank AB bought a new position in shares of Ameresco during the first quarter worth $12,065,000. Institutional investors own 99.24% of the company’s stock.

Ameresco Stock Up 4.6 %

AMRC opened at $26.67 on Tuesday. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 0.85 and a beta of 1.82. Ameresco has a twelve month low of $17.55 and a twelve month high of $39.68. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.26 and a current ratio of 1.27. The firm’s 50-day simple moving average is $32.92 and its 200-day simple moving average is $31.22.

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.