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

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

Institutional Trading of Ameresco

Institutional investors have recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in shares of Ameresco by 100.3% in the 3rd quarter. Blue Trust Inc. now owns 781 shares of the utilities provider’s stock valued at $30,000 after buying an additional 391 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in Ameresco by 1,294.9% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,455 shares of the utilities provider’s stock worth $93,000 after purchasing an additional 2,279 shares in the last quarter. nVerses Capital LLC acquired a new stake in Ameresco in the 2nd quarter worth approximately $75,000. Point72 DIFC Ltd acquired a new stake in Ameresco in the 2nd quarter worth approximately $86,000. Finally, GAMMA Investing LLC boosted its stake in Ameresco by 1,215.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,117 shares of the utilities provider’s stock worth $90,000 after purchasing an additional 2,880 shares in the last quarter. 99.24% of the stock is currently owned by institutional investors.

Ameresco Stock Up 4.6 %

NYSE:AMRC opened at $26.66 on Monday. Ameresco has a fifty-two week low of $17.55 and a fifty-two week high of $39.68. The stock has a market capitalization of $1.40 billion, a P/E ratio of 25.49, a P/E/G ratio of 0.85 and a beta of 1.82. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.00 and a current ratio of 1.27. The company’s 50-day simple moving average is $32.98 and its 200-day simple moving average is $31.18.

Wall Street Analyst Weigh In

Several research firms recently commented on AMRC. UBS Group raised their price target on shares of Ameresco from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, September 5th. Piper Sandler raised their price target on shares of Ameresco from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Robert W. Baird raised their price target on shares of Ameresco from $32.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. Jefferies Financial Group began coverage on shares of Ameresco in a research note on Wednesday, September 4th. They issued a “hold” rating and a $33.00 price target on the stock. Finally, Stifel Nicolaus raised their price target on shares of Ameresco from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.91.

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.