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

Ameresco, Inc. (NYSE:AMRC) was the recipient of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 3,200,000 shares, a drop of 7.8% from the October 31st total of 3,470,000 shares. Approximately 10.0% of the company’s shares are short sold. Based on an average daily volume of 353,200 shares, the days-to-cover ratio is currently 9.1 days.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. UBS Group raised their price target on Ameresco from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. Jefferies Financial Group initiated coverage on Ameresco in a research report on Wednesday, September 4th. They set a “hold” rating and a $33.00 target price for the company. StockNews.com upgraded shares of Ameresco to a “sell” rating in a research report on Tuesday, November 12th. Robert W. Baird boosted their price objective on shares of Ameresco from $32.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Finally, Stifel Nicolaus increased their target price on shares of Ameresco from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.91.

Institutional Trading of Ameresco

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in Ameresco by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 754,775 shares of the utilities provider’s stock valued at $28,642,000 after buying an additional 10,197 shares during the last quarter. Barclays PLC grew its holdings in shares of Ameresco by 204.2% in the third quarter. Barclays PLC now owns 59,248 shares of the utilities provider’s stock valued at $2,248,000 after acquiring an additional 39,773 shares in the last quarter. Wellington Management Group LLP increased its position in shares of 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 acquiring an additional 450,571 shares during the last quarter. Stifel Financial Corp lifted its holdings in Ameresco by 35.1% during the third quarter. Stifel Financial Corp now owns 118,277 shares of the utilities provider’s stock worth $4,487,000 after acquiring an additional 30,718 shares during the period. Finally, Redwood Grove Capital LLC grew its stake in Ameresco by 41.9% in the 3rd 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 during the period. Institutional investors own 99.24% of the company’s stock.

Ameresco Trading Up 1.8 %

Shares of AMRC stock traded up $0.52 during mid-day trading on Monday, hitting $28.69. The company’s stock had a trading volume of 336,599 shares, compared to its average volume of 467,365. Ameresco has a 52 week low of $17.55 and a 52 week 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 company’s fifty day simple moving average is $31.60 and its 200-day simple moving average is $31.28. The company has a market cap of $1.50 billion, a PE ratio of 28.63, a P/E/G ratio of 0.98 and a beta of 1.82.

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.