Ameresco, Inc. (NYSE:AMRC) Short Interest Down 6.7% in October

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

Hedge Funds Weigh In On Ameresco

Several large investors have recently made changes to their positions in AMRC. Geode Capital Management LLC grew its stake in shares of 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 buying an additional 10,197 shares during the last quarter. Barclays PLC boosted its holdings in Ameresco by 204.2% in the third quarter. Barclays PLC now owns 59,248 shares of the utilities provider’s stock worth $2,248,000 after acquiring an additional 39,773 shares in the last quarter. Wellington Management Group LLP grew 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 acquiring an additional 450,571 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of Ameresco by 35.1% during the third quarter. Stifel Financial Corp now owns 118,277 shares of the utilities provider’s stock valued at $4,487,000 after acquiring an additional 30,718 shares in the last quarter. Finally, Redwood Grove Capital LLC increased its holdings in shares of 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 acquiring an additional 147,642 shares in the last quarter. 99.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. 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. Robert W. Baird increased their price objective on Ameresco from $32.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. Piper Sandler boosted their target price on Ameresco from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. UBS Group upped their target price on Ameresco from $39.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, September 5th. Finally, StockNews.com upgraded shares of Ameresco to a “sell” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $36.91.

Ameresco Trading Down 0.5 %

Shares of NYSE AMRC opened at $26.53 on Wednesday. Ameresco has a 1 year low of $17.55 and a 1 year high of $39.68. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.27 and a quick ratio of 1.26. The firm has a 50-day moving average of $32.83 and a 200 day moving average of $31.25. The stock has a market cap of $1.39 billion, a P/E ratio of 26.53, a price-to-earnings-growth ratio of 0.85 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.