Short Interest in Ameresco Inc (NYSE:AMRC) Drops By 11.3%

Ameresco Inc (NYSE:AMRC) saw a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 904,700 shares, a decrease of 11.3% from the August 30th total of 1,020,000 shares. Based on an average daily trading volume, of 113,100 shares, the short-interest ratio is presently 8.0 days. Currently, 4.9% of the shares of the stock are short sold.

AMRC stock traded down $0.39 during mid-day trading on Monday, hitting $14.33. The company had a trading volume of 4,019 shares, compared to its average volume of 149,586. The company has a market capitalization of $668.33 million, a price-to-earnings ratio of 17.75, a P/E/G ratio of 1.03 and a beta of 0.45. Ameresco has a 12-month low of $11.87 and a 12-month high of $18.05. The company has a quick ratio of 1.47, a current ratio of 1.51 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average price of $14.86 and a 200 day moving average price of $14.99.

Ameresco (NYSE:AMRC) last announced its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. The business had revenue of $198.20 million for the quarter, compared to analysts’ expectations of $196.95 million. Ameresco had a net margin of 4.62% and a return on equity of 8.29%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.19 EPS. As a group, analysts expect that Ameresco will post 0.8 EPS for the current year.

In related news, CEO George P. Sakellaris sold 114,500 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $14.53, for a total value of $1,663,685.00. Following the completion of the transaction, the chief executive officer now owns 3,478,361 shares of the company’s stock, valued at approximately $50,540,585.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO George P. Sakellaris sold 114,900 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $13.93, for a total transaction of $1,600,557.00. Following the completion of the transaction, the chief executive officer now directly owns 3,498,261 shares of the company’s stock, valued at approximately $48,730,775.73. The disclosure for this sale can be found here. Insiders sold a total of 433,400 shares of company stock valued at $6,285,737 in the last ninety days. 55.86% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Ameresco by 32.3% during the 2nd quarter. BlackRock Inc. now owns 1,469,588 shares of the utilities provider’s stock valued at $21,648,000 after buying an additional 358,410 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Ameresco by 4.6% during the 2nd quarter. Vanguard Group Inc. now owns 870,646 shares of the utilities provider’s stock valued at $12,825,000 after buying an additional 37,990 shares in the last quarter. Bandera Partners LLC raised its position in shares of Ameresco by 70.9% during the 2nd quarter. Bandera Partners LLC now owns 683,684 shares of the utilities provider’s stock valued at $10,071,000 after buying an additional 283,684 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of Ameresco by 14.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 618,896 shares of the utilities provider’s stock valued at $9,116,000 after buying an additional 79,146 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Ameresco by 29.9% during the 2nd quarter. Invesco Ltd. now owns 407,370 shares of the utilities provider’s stock valued at $6,001,000 after buying an additional 93,836 shares in the last quarter. Hedge funds and other institutional investors own 30.89% of the company’s stock.

Several analysts have commented on AMRC shares. ValuEngine cut shares of Ameresco from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research cut shares of Ameresco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Ameresco currently has an average rating of “Buy” and an average target price of $18.30.

About Ameresco

Ameresco, Inc provides comprehensive energy services for businesses and organizations in North America and Europe. It offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions. The company operates through U.S. Regions, U.S.

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