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

Ameresco, Inc. (NYSE:AMRC) was the recipient of a significant decline in short interest during the month of June. As of June 15th, there was short interest totalling 4,030,000 shares, a decline of 7.6% from the May 31st total of 4,360,000 shares. Currently, 12.6% of the shares of the company are short sold. Based on an average daily volume of 501,600 shares, the short-interest ratio is currently 8.0 days.

Insider Buying and Selling at Ameresco

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its holdings in Ameresco by 1.0% in the 3rd quarter. Rhumbline Advisers now owns 44,866 shares of the utilities provider’s stock valued at $1,730,000 after buying an additional 465 shares during the last quarter. Bridge City Capital LLC increased its position in Ameresco by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 79,871 shares of the utilities provider’s stock valued at $1,927,000 after purchasing an additional 622 shares during the period. Victory Capital Management Inc. increased its position in Ameresco by 8.8% during the 4th quarter. Victory Capital Management Inc. now owns 9,318 shares of the utilities provider’s stock valued at $295,000 after purchasing an additional 752 shares during the period. Otter Creek Advisors LLC increased its position in Ameresco by 1.2% during the 4th quarter. Otter Creek Advisors LLC now owns 68,816 shares of the utilities provider’s stock valued at $2,181,000 after purchasing an additional 818 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its position in Ameresco by 15.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 10,595 shares of the utilities provider’s stock valued at $256,000 after purchasing an additional 1,410 shares during the period. Institutional investors own 99.24% of the company’s stock.

Ameresco Price Performance

Shares of AMRC stock traded up $1.08 on Wednesday, reaching $27.98. The company had a trading volume of 75,062 shares, compared to its average volume of 523,011. 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 has a one year low of $17.55 and a one year high of $63.19. The business’s 50-day moving average is $29.81 and its 200 day moving average is $25.69.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AMRC shares. Robert W. Baird upped their price target on shares of Ameresco from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Raymond James decreased their price target on shares of Ameresco from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 3rd. Piper Sandler decreased their price target on shares of Ameresco from $32.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, April 11th. B. Riley upgraded shares of Ameresco to a “strong-buy” rating in a research note on Tuesday, June 25th. Finally, BNP Paribas raised shares of Ameresco from a “neutral” rating to an “outperform” rating and set a $34.00 price objective for the company in a research report on Tuesday, March 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $40.31.

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.