Ameresco (NYSE:AMRC) Shares Down 6.5% – What’s Next?

Ameresco, Inc. (NYSE:AMRC)’s share price traded down 6.5% during mid-day trading on Monday . The company traded as low as $20.90 and last traded at $21.16. 174,905 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 403,341 shares. The stock had previously closed at $22.63.

Wall Street Analyst Weigh In

AMRC has been the subject of a number of analyst reports. Stifel Nicolaus raised their price objective on shares of Ameresco from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Piper Sandler raised their price target on shares of Ameresco from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com upgraded shares of Ameresco to a “sell” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Ameresco has a consensus rating of “Moderate Buy” and a consensus target price of $36.90.

Ameresco Trading Down 1.3 %

The stock has a market capitalization of $1.06 billion, a PE ratio of 20.21, a P/E/G ratio of 0.58 and a beta of 1.79. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 1.36. The stock has a 50 day moving average price of $24.64 and a 200-day moving average price of $28.85.

Insider Buying and Selling at Ameresco

In other news, Director Jennifer L. Miller sold 40,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $21.06, for a total transaction of $842,400.00. Following the completion of the sale, the director now owns 17,225 shares of the company’s stock, valued at $362,758.50. The trade was a 69.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 42.00% of the company’s stock.

Institutional Trading of Ameresco

Several hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP raised its stake in shares of Ameresco by 81.3% in the third quarter. Wellington Management Group LLP now owns 1,004,902 shares of the utilities provider’s stock worth $38,126,000 after buying an additional 450,571 shares during the period. Geode Capital Management LLC increased its holdings in Ameresco by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 754,775 shares of the utilities provider’s stock worth $28,642,000 after acquiring an additional 10,197 shares in the last quarter. Gagnon Securities LLC raised its stake in Ameresco by 22.5% during the 4th quarter. Gagnon Securities LLC now owns 571,202 shares of the utilities provider’s stock worth $13,412,000 after acquiring an additional 104,861 shares during the period. Redwood Grove Capital LLC lifted its holdings in Ameresco by 41.9% during the third quarter. Redwood Grove Capital LLC now owns 499,890 shares of the utilities provider’s stock valued at $18,966,000 after purchasing an additional 147,642 shares in the last quarter. Finally, Gagnon Advisors LLC lifted its holdings in Ameresco by 32.4% during the fourth quarter. Gagnon Advisors LLC now owns 272,694 shares of the utilities provider’s stock valued at $6,403,000 after purchasing an additional 66,746 shares in the last quarter. Institutional investors own 99.24% of the company’s stock.

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.