Ameresco (NYSE:AMRC) Stock Price Down 7.7% – Time to Sell?

Ameresco, Inc. (NYSE:AMRC)’s share price traded down 7.7% on Tuesday . The company traded as low as $26.31 and last traded at $26.39. 84,773 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 474,023 shares. The stock had previously closed at $28.60.

Analyst Ratings Changes

AMRC has been the topic of several recent research reports. UBS Group boosted their target price on Ameresco from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, September 5th. Jefferies Financial Group assumed coverage on shares of Ameresco in a research note on Wednesday, September 4th. They set a “hold” rating and a $33.00 price target on the stock. Piper Sandler lifted their price objective on Ameresco from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Robert W. Baird raised their price target on Ameresco from $32.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Finally, StockNews.com raised shares of Ameresco to a “sell” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.91.

Ameresco Stock Performance

The company has a 50-day moving average of $33.06 and a 200-day moving average of $31.01. The company has a current ratio of 1.27, a quick ratio of 1.00 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 26.78, a price-to-earnings-growth ratio of 0.89 and a beta of 1.82.

Hedge Funds Weigh In On Ameresco

Several hedge funds have recently modified their holdings of AMRC. Blue Trust Inc. lifted its holdings in shares of Ameresco by 100.3% during 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 during the last quarter. nVerses Capital LLC acquired a new position in Ameresco during the 2nd quarter valued at $75,000. Point72 DIFC Ltd acquired a new stake in Ameresco during the second quarter worth about $86,000. GAMMA Investing LLC increased its position in shares of Ameresco by 1,215.2% during the second quarter. GAMMA Investing LLC now owns 3,117 shares of the utilities provider’s stock valued at $90,000 after purchasing an additional 2,880 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Ameresco in the 2nd quarter valued at $156,000. 99.24% of the stock is currently owned by institutional investors and hedge funds.

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.