5 Green Energy Stocks to Watch As Europe Cuts Reliance on Russia

In this article, we discuss 5 green energy stocks to watch as Europe cuts reliance on Russia. If you want our detailed analysis of these stocks, go directly to 10 Green Energy Stocks to Watch As Europe Cuts Reliance on Russia.

5. Ameresco, Inc. (NYSE:AMRC)

Number of Hedge Fund Holders: 18

Headquartered in Framingham, Massachusetts, Ameresco, Inc. (NYSE:AMRC) provides energy efficiency solutions, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions to industrial and corporate customers across the United States and Canada. 

In its Q4 earnings report, published on February 28, Ameresco, Inc. (NYSE:AMRC) posted earnings per share of $0.50, topping market consensus by $0.07. Revenue over the quarter jumped 32.32% year-on-year to approximately $416 million, surpassing estimates by $67.29 million. 

On March 1, Canaccord analyst Jed Dorsheimer lowered the price target on Ameresco, Inc. (NYSE:AMRC) to $85 from $100 and kept a Buy rating on the shares. The analyst said his lower multiple represents a 20% premium to the group but also reflects the secular contraction. He feels the premium is warranted given Ameresco, Inc. (NYSE:AMRC)’s leading position in energy efficiency.

Among the hedge funds tracked by Insider Monkey at the end of December 2021, 18 funds were long Ameresco, Inc. (NYSE:AMRC), up from 16 funds in the quarter earlier. Driehaus Capital, the largest company shareholder, elevated its stake in Ameresco, Inc. (NYSE:AMRC) by 88% in Q4, with 256,615 shares worth roughly $21 million.