Ameresco (NYSE:AMRC) Stock Price Down 6.9%

Ameresco, Inc. (NYSE:AMRC)’s share price was down 6.9% during trading on Monday . The stock traded as low as $31.02 and last traded at $31.02. Approximately 32,042 shares were traded during trading, a decline of 94% from the average daily volume of 523,029 shares. The stock had previously closed at $33.31.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AMRC shares. Raymond James reduced their target price on Ameresco from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, April 3rd. Oppenheimer reiterated a “market perform” rating on shares of Ameresco in a research note on Wednesday, April 17th. B. Riley raised Ameresco to a “strong-buy” rating in a report on Tuesday, June 25th. StockNews.com raised Ameresco to a “sell” rating in a research note on Monday, July 1st. Finally, Piper Sandler lowered their price target on Ameresco from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.31.

Ameresco Stock Down 7.4 %

The firm has a fifty day moving average price of $30.90 and a 200 day moving average price of $25.48. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The company has a market cap of $1.61 billion, a P/E ratio of 27.95, a PEG ratio of 0.96 and a beta of 1.78.

Ameresco (NYSE:AMRC) last posted its quarterly earnings results on Tuesday, May 7th. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.01. The business had revenue of $298.41 million for the quarter, compared to analysts’ expectations of $255.38 million. Ameresco had a return on equity of 6.67% and a net margin of 4.17%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.03 earnings per share. Equities research analysts forecast that Ameresco, Inc. will post 1.38 earnings per share for the current year.

Insider Buying and Selling at Ameresco

In other Ameresco news, CAO Mark Chiplock sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $35.00, for a total value of $105,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 348 shares in the company, valued at $12,180. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 42.00% of the company’s stock.

Hedge Funds Weigh In On Ameresco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC bought a new stake in Ameresco during the 4th quarter worth $62,000. GAMMA Investing LLC grew its position in Ameresco by 1,215.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,117 shares of the utilities provider’s stock worth $90,000 after acquiring an additional 2,880 shares during the last quarter. Cetera Trust Company N.A bought a new stake in Ameresco during the 4th quarter worth $106,000. SG Americas Securities LLC bought a new stake in Ameresco during the 2nd quarter worth $156,000. Finally, Northside Capital Management LLC bought a new stake in Ameresco during the 2nd quarter worth $216,000. 99.24% of the stock is owned by institutional investors and hedge funds.

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.