Ameresco (NYSE:AMRC) Stock Price Down 6.5% – Time to Sell?

Ameresco, Inc. (NYSE:AMRC)’s stock price fell 6.5% during trading on Monday . The stock traded as low as $20.90 and last traded at $21.16. 174,905 shares changed hands during trading, a decline of 57% from the average session volume of 403,341 shares. The stock had previously closed at $22.63.

Wall Street Analyst Weigh In

AMRC has been the subject of several analyst reports. StockNews.com raised shares of Ameresco to a “sell” rating in a report on Tuesday, November 12th. Stifel Nicolaus lifted their price objective on Ameresco from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Piper Sandler upped their target price on Ameresco from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.90.

Ameresco Stock Performance

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 company has a 50 day simple moving average of $24.64 and a 200-day simple moving average of $28.85. The firm has a market cap of $1.06 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 0.58 and a beta of 1.79.

Insider Buying and Selling at Ameresco

In other Ameresco news, Director Jennifer L. Miller sold 40,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $21.06, for a total value of $842,400.00. Following the sale, the director now owns 17,225 shares of the company’s stock, valued at $362,758.50. This trade represents a 69.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 42.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AMRC. Wellington Management Group LLP boosted its stake in shares of Ameresco by 81.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,004,902 shares of the utilities provider’s stock valued at $38,126,000 after purchasing an additional 450,571 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in Ameresco by 3,389.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 184,935 shares of the utilities provider’s stock valued at $7,124,000 after acquiring an additional 179,635 shares in the last quarter. Erste Asset Management GmbH purchased a new position in shares of Ameresco during the 3rd quarter worth approximately $6,319,000. Redwood Grove Capital LLC raised its position in shares of Ameresco by 41.9% in the 3rd quarter. Redwood Grove Capital LLC now owns 499,890 shares of the utilities provider’s stock worth $18,966,000 after acquiring an additional 147,642 shares in the last quarter. Finally, Gagnon Securities LLC lifted its stake in shares of Ameresco by 22.5% in the 4th quarter. Gagnon Securities LLC now owns 571,202 shares of the utilities provider’s stock valued at $13,412,000 after purchasing an additional 104,861 shares during the period. 99.24% of the stock is owned by hedge funds and other institutional investors.

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.