Ameresco (NYSE:AMRC) Trading Up 7.4% - Still a Buy?

Ameresco, Inc. (NYSE:AMRC - Get Free Report)'s stock price traded up 7.4% during trading on Thursday . The stock traded as high as $25.38 and last traded at $25.22. 48,493 shares traded hands during trading, a decline of 89% from the average session volume of 454,792 shares. The stock had previously closed at $23.48.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AMRC. Stifel Nicolaus increased their target price on Ameresco from $32.00 to $34.00 and gave the company a "buy" rating in a report on Monday, November 11th. StockNews.com upgraded Ameresco to a "sell" rating in a report on Tuesday, November 12th. Jefferies Financial Group started coverage on shares of Ameresco in a research report on Wednesday, September 4th. They issued a "hold" rating and a $33.00 target price for the company. Robert W. Baird boosted 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. Finally, Piper Sandler increased their price objective on shares of Ameresco from $35.00 to $38.00 and gave the company an "overweight" rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Ameresco currently has an average rating of "Moderate Buy" and an average price target of $36.90.

Ameresco Price Performance

The stock has a 50-day simple moving average of $27.05 and a 200 day simple moving average of $29.92. The company has a market cap of $1.32 billion, a PE ratio of 25.14, a P/E/G ratio of 0.90 and a beta of 1.76. The company has a quick ratio of 1.26, a current ratio of 1.27 and a debt-to-equity ratio of 1.36.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AMRC. Blue Trust Inc. raised its holdings in shares of Ameresco by 100.3% in the 3rd quarter. Blue Trust Inc. now owns 781 shares of the utilities provider's stock valued at $30,000 after buying an additional 391 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Ameresco by 1,294.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,455 shares of the utilities provider's stock worth $93,000 after purchasing an additional 2,279 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Ameresco in the second quarter valued at approximately $75,000. Point72 DIFC Ltd acquired a new position in shares of Ameresco in the second quarter valued at approximately $86,000. Finally, GAMMA Investing LLC increased its stake in Ameresco by 19.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,735 shares of the utilities provider's stock worth $142,000 after buying an additional 618 shares during the period. 99.24% of the stock is currently owned by institutional investors and hedge funds.

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.