Ameresco Inc. (AMRC)

Ameresco Inc. (AMRC) stock fell by 5.09% due to news of insider trading involving Executive Vice President Peter Christakis.

• Trading Details: Christakis sold 108 shares of Ameresco Class A Common Stock at an average price of $20.53 per share, totaling $2,217. This sale was part of an automatic sell-to-cover instruction to cover applicable withholding taxes due to the partial vesting of Restricted Stock Units (RSUs).
• Reason for Insider Trading: The sale of shares was a common practice where executives sell shares to satisfy tax obligations related to the vesting of equity awards. Christakis still holds a significant number of shares, with 11,370 shares of Ameresco Class A Common Stock remaining in his possession. This indicates his continued vested interest in Ameresco's performance and future.
• Investors' Sentiment: Insider selling can sometimes be interpreted as a lack of confidence by company insiders in the future prospects of the company. Investors may view insider selling as a signal that executives believe the stock is overvalued or that there are challenges ahead. News of insider selling can influence market sentiment and lead to increased selling pressure from other investors. If investors perceive insider selling as a negative signal, they may be more inclined to sell their own shares, putting downward pressure on the stock price.

Shares of Ameresco Inc. (AMRC) dropped by 7.28% from $36.52 to $33.86 in the trading on Friday, December 15, 2023. The reason why AMRC down today is due to recent analyst reports. Over the past three months, 8 analysts have provided 12-month price targets for Ameresco, with an average target of $46.38. The high target is $59.00, and the low target is $37.00. Notably, the current average price target represents a 20.27% decrease from the previous average target of $58.17, indicating a shift in analyst sentiment.

Ameresco Inc Stock (AMRC) dropped by 14.88% from $26.61 to $22.65 in the trading on Tuesday November 7, 2023. The reason why AMRC stock down today is due to its weaker-than-expected quarterly results.

• Revenue declined 24% year over year, to $335.1 million, adjusted net income of $21.1 million, or $0.40 per share, down from $0.50 per share in the same year-ago period. Analysts were looking for earnings of $0.46 per share on revenue closer to $385 million.
• Total project backlog grew 14% sequentially from last quarter to $3.701 billion.
• The quarter was negatively impacted by several issues including longer-than-expected downtime at some energy asset plants, as well as supply chain delays and administrative bottlenecks, which pushed out some project revenue.