Today, a stock I purchased as an IPO finally began to move upward. If you haven't heard of it, and you probably haven't, it's called Ameresco and its symbol is AMRC. It began trading about 2 weeks ago, and it's hardly moved at all since then. But today, it's up almost 2 points or 20% in one day on still fairly light volume, but heavy volume based upon the activity over the past two weeks. I was told about Ameresco by a very good friend of mine who works for Oppenheimer named Sail Adler. Sail is another one of the "good guys" in our industry and I've known him since the beginning of both our careers when we started out at Merrill Lynch and Fidelity. On a side note, Sail is one of the most honest and ethical private bankers and investment managers I know and someone I'm proud to call a friend. It also helps that almost every idea he's brought to me was a winner. I subsequently researched Ameresco, its business and fundamentals, and its brilliant CEO, George Sakellaris, all of this providing me with information to conclude that this had the potential to be a real winner, and it was nice to know that I was investing in a company that was helping to improve our earth. I then told my brother and father and a few friends to take a look and they subsequently purchased shares also.
One of the reasons you may have not heard of AMRC is that it's not known yet by Wall Street. That will probably change soon, because I recently read that there will be some analyst coverage on the stock soon.
Ameresco advises hundreds of companies and institutions on how to improve their energy efficiency and their sales and earnings are growing at exponential rates. Although their revenues are growing at about 100%, the P/E is still about 10.
If you're looking for a solid, long-term green energy investment, it's certainly worth a look. I probably will never sell my shares.
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