Short Interest in Ameresco Inc (NYSE:AMRC) Rises By 32.8%

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Ameresco Inc (NYSE:AMRC) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 976,200 shares, a growth of 32.8% from the May 30th total of 734,900 shares. Approximately 5.4% of the company’s shares are short sold. Based on an average daily volume of 129,400 shares, the days-to-cover ratio is currently 7.5 days.

In other news, EVP David J. Corrsin sold 42,982 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $16.52, for a total transaction of $710,062.64. Following the sale, the executive vice president now owns 1,053,338 shares in the company, valued at $17,401,143.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David J. Corrsin sold 1,756 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $16.50, for a total value of $28,974.00. Following the sale, the executive vice president now owns 1,038,872 shares in the company, valued at approximately $17,141,388. The disclosure for this sale can be found here. Insiders have sold 51,756 shares of company stock worth $854,834 in the last 90 days. Insiders own 57.93% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Royce & Associates LP lifted its stake in shares of Ameresco by 27.8% during the first quarter. Royce & Associates LP now owns 727,019 shares of the utilities provider’s stock worth $11,763,000 after purchasing an additional 158,060 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Ameresco by 9.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,519,356 shares of the utilities provider’s stock worth $21,423,000 after purchasing an additional 127,758 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in shares of Ameresco by 29.9% during the first quarter. Handelsbanken Fonder AB now owns 539,750 shares of the utilities provider’s stock worth $8,733,000 after purchasing an additional 124,308 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Ameresco during the first quarter worth about $1,838,000. Finally, BlackRock Inc. lifted its stake in shares of Ameresco by 3.8% during the fourth quarter. BlackRock Inc. now owns 1,046,902 shares of the utilities provider’s stock worth $14,762,000 after purchasing an additional 37,928 shares in the last quarter. Hedge funds and other institutional investors own 28.92% of the company’s stock.

Separately, Zacks Investment Research cut W. R. Grace & Co from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $18.50.

Shares of Ameresco stock opened at $14.29 on Friday. Ameresco has a twelve month low of $11.73 and a twelve month high of $18.05. The firm has a market capitalization of $692.68 million, a PE ratio of 21.65, a P/E/G ratio of 1.05 and a beta of 0.52. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.59. The firm has a fifty day moving average price of $14.53.

Ameresco (NYSE:AMRC) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $0.02 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.02. Ameresco had a return on equity of 8.44% and a net margin of 4.57%. The firm had revenue of $150.10 million for the quarter, compared to analysts’ expectations of $150.29 million. During the same quarter last year, the firm earned $0.16 earnings per share. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, analysts predict that Ameresco will post 0.78 EPS for the current fiscal year.

Ameresco Company Profile

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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