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

Ameresco, Inc. (NYSE:AMRC) was the target of a significant 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 trading volume, of 501,600 shares, the short-interest ratio is presently 8.0 days. Approximately 12.6% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

AMRC has been the subject of a number of recent analyst reports. Stifel Nicolaus reduced their target price on Ameresco from $35.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Raymond James lowered their target price on shares of Ameresco from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 3rd. UBS Group upped their price target on Ameresco from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. B. Riley raised Ameresco to a “strong-buy” rating in a research note on Tuesday, June 25th. Finally, StockNews.com raised Ameresco to a “sell” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $40.31.

Ameresco Trading Up 0.9 %

NYSE:AMRC traded up $0.24 during mid-day trading on Wednesday, reaching $27.14. The company’s stock had a trading volume of 364,772 shares, compared to its average volume of 525,292. 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 stock has a market cap of $1.42 billion, a P/E ratio of 25.44, a P/E/G ratio of 0.83 and a beta of 1.78. The company’s fifty day simple moving average is $29.81 and its two-hundred day simple moving average is $25.69. Ameresco has a twelve month low of $17.55 and a twelve month high of $63.19.

Ameresco (NYSE:AMRC) last issued its quarterly earnings results on Tuesday, May 7th. The utilities provider reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.01. The firm had revenue of $298.41 million during the quarter, compared to analyst estimates of $255.38 million. Ameresco had a net margin of 4.17% and a return on equity of 6.67%. Ameresco’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 posted $0.03 earnings per share. On average, equities analysts predict that Ameresco will post 1.38 EPS for the current year.

Insider Activity

In other news, CAO Mark Chiplock sold 3,000 shares of the business’s 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 transaction, the chief accounting officer now owns 348 shares of the company’s stock, valued at $12,180. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 42.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Rhumbline Advisers raised its holdings in shares of Ameresco by 1.0% in the 3rd quarter. Rhumbline Advisers now owns 44,866 shares of the utilities provider’s stock worth $1,730,000 after purchasing an additional 465 shares during the period. Bridge City Capital LLC lifted its position in Ameresco by 0.8% during the first quarter. Bridge City Capital LLC now owns 79,871 shares of the utilities provider’s stock valued at $1,927,000 after buying an additional 622 shares in the last quarter. Victory Capital Management Inc. grew its stake in Ameresco by 8.8% during the fourth quarter. Victory Capital Management Inc. now owns 9,318 shares of the utilities provider’s stock worth $295,000 after buying an additional 752 shares during the period. Otter Creek Advisors LLC increased its position in shares of Ameresco by 1.2% in the fourth quarter. Otter Creek Advisors LLC now owns 68,816 shares of the utilities provider’s stock worth $2,181,000 after acquiring an additional 818 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Ameresco by 15.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 10,595 shares of the utilities provider’s stock worth $256,000 after acquiring an additional 1,410 shares in the last quarter. 99.24% of the stock is owned by hedge funds and other institutional investors.

Ameresco Company Profile

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.