Ameresco (NYSE:AMRC) Stock Price Down 7.7% – Here’s Why

Ameresco, Inc. (NYSE:AMRC)’s stock price dropped 7.7% during mid-day trading on Tuesday . The stock traded as low as $26.31 and last traded at $26.39. Approximately 84,773 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 474,023 shares. The stock had previously closed at $28.60.

Analysts Set New Price Targets

Several equities analysts have commented on AMRC shares. Stifel Nicolaus upped their price target on Ameresco from $32.00 to $34.00 and gave the company a “buy” rating in a report on Monday. Robert W. Baird upped their price target on shares of Ameresco from $32.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Jefferies Financial Group initiated coverage on Ameresco in a research report on Wednesday, September 4th. They issued a “hold” rating and a $33.00 price objective on the stock. StockNews.com upgraded shares of Ameresco to a “sell” rating in a report on Tuesday. Finally, Piper Sandler increased 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.91.

Ameresco Price Performance

The business has a 50 day moving average of $33.06 and a 200 day moving average of $31.01. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.27 and a quick ratio of 1.00. The company has a market cap of $1.40 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 0.89 and a beta of 1.82.

Institutional Trading of Ameresco

A number of hedge funds have recently bought and sold shares of AMRC. Blue Trust Inc. increased its stake in Ameresco by 100.3% in the 3rd quarter. Blue Trust Inc. now owns 781 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 391 shares during the last quarter. nVerses Capital LLC purchased a new stake in Ameresco during the second quarter worth $75,000. Point72 DIFC Ltd purchased a new position in shares of Ameresco in the 2nd quarter worth approximately $86,000. GAMMA Investing LLC grew its stake in shares of Ameresco by 1,215.2% during the second 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. Finally, FMR LLC grew its stake in Ameresco by 257.9% during the 3rd quarter. FMR LLC now owns 5,350 shares of the utilities provider’s stock valued at $203,000 after purchasing an additional 3,855 shares during the last quarter. Hedge funds and other institutional investors own 99.24% of the company’s stock.

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.