Ameresco Inc
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Industrials : Construction & Engineering | Small Cap Growth
Company profile

Ameresco, Inc. (Ameresco) is a provider of a range of energy services, including energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco's sustainability services include capital and operational upgrades to a facility's energy infrastructure and the development, construction, ownership and operation of renewable energy plants. Its segments include U.S. Regions, U.S. Federal, Canada, Small-Scale Infrastructure and All Other. Its U.S. Regions, U.S. Federal and Canada segments offer energy efficiency products and services. Its Small-Scale Infrastructure segment sells electricity, processed renewable gas fuel, heat or cooling, produced from renewable sources of energy and generated by small-scale plants that it owns. The All Other segment offers enterprise energy management services, consulting services and integrated-photovoltaic (PV).

Premarket

Last Trade
Delayed
$62.84
1.83 (3.00%)
Bid
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Market Hours

Closing Price
$61.01
Day's Change
0.00 (0.00%)
Bid
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Ask
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B/A Size
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Day's High
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Day's Low
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Volume
(Light)
Volume:
5

10-day average volume:
235,156
5

ETF Wrap: Bitcoin miner or gold miner? Here's where Wall Street winners put their bets

2:02 pm ET May 20, 2021 (MarketWatch)
Print

By Mark DeCambre

Hello, again: In a rumbustious week of trading on Wall Street, one big question that seems to be emerging is this: Is sentiment in crypto influencing the mood in traditional financial markets?

The jury is out but a lot of folks seem inclined to draw parallels (https://www.marketwatch.com/story/bitcoin-is-melting-heres-what-a-30-drop-from-highs-in-the-crypto-may-say-about-stock-market-risk-sentiment-11621218411)between risk appetite in the nascent digital-asset market and sentiment in stocks and bonds.

Read:Why is crypto crashing? Will bitcoin prices ever recover? Here's what traders and investors say (https://www.marketwatch.com/story/why-is-crypto-crashing-will-bitcoin-prices-ever-recover-heres-what-traders-and-investors-say-11621456298)

As per usual, send tips, or feedback, and find me on Twitter at @mdecambre to tell me what we need to be jumping on.

Sign up here (https://www.marketwatch.com/newsletters) for ETF Wrap.

What happened this week? We promise that we won't be talking about crypto on Wrap every week, but it is becoming a more pervasive talking point as one of the year's hottest trades appears to be coming off the boil.

And interestingly, researchers at JPMorgan Chase(JPM) this week made the case that investors are shifting from bitcoin to gold. It's a thesis that seemingly has its challenges since the assumption is that bitcoin and gold investors don't mix well.

See:Bitcoin's 40% crash 'does feel like capitulation,' says crypto specialist, but here's where the next crucial support level stands (https://www.marketwatch.com/story/bitcoins-40-crash-does-feel-like-capitulation-says-crypto-specialist-but-heres-where-the-next-crucial-support-level-stands-11621429393)

JPMorgan says that "the bitcoin flow picture continues to deteriorate and is pointing to continued retrenchment by institutional investors," and those investors are gravitating from bitcoin futures , which the report says "experienced their steepest and most sustained liquidation since the bitcoin ascent started last October," and into bullion .

What's fascinating is that the top performing ETFs this week, among those screened by MarketWatch, are those for gold and silver miners.

The ETFMG Prime Junior Silver Miners ETF is up nearly 10% so far this week, through midday Thursday, for example. The Global X Silver Miners ETF was up 8.1% and VanEck Vectors Junior Gold Miners ETF was showing a more than 7% return thus far.

There isn't an ETF exclusively for companies that digitally mine for bitcoin miners...yet, but Riot Blockchain Inc. shares (RIOT) are down nearly 7% over the same period this week and those for Marathon Digital Holdings (MARA) were off 1.2%, FactSet data show.

Weekly ETF moves

Top 5 gainers of the past week  % Performance 
ETFMG Prime Junior Silver Miners ETF SILJ  9.6 
Invesco Solar ETF TAN  8.6 
Invesco WilderHill Clean Energy ETF PBW  8.5 
Global X Silver Miners ETF SIL  8.1 
VanEck Vectors Junior Gold Miners ETF GDXJ  7.3 
Source: FactSet, through Thursday midday, May 20, excluding ETNs and leveraged products. Includes NYSE, Nasdaq and Cboe traded ETFs of $500 million or greater 
Top 5 decliners of the past week  % Performance 
iShares U.S. Home Construction ETF  -3.4 
SPDR S&P Homebuilders ETF XHB  -3.0 
Global X Copper Miners ETF COPX  -2.9 
Global X U.S. Infrastructure Development ETF PAVE  -2.4 
iShares MSCI Global Metals & Mining Producers ETF PICK  -2.3 
Source: FactSet, through Thursday midday, May 29, excluding ETNs and leveraged products. Includes NYSE, Nasdaq and Cboe traded ETFs of $500 million or greater 

What's new?

Modernizing Dow theory? The iShares Transportation Average ETF (IYT) will be undergoing a renovation this summer.

The $2.2 billion ETF tracks the price-weighted Dow Jones Transportation Average and is viewed as an important gauge of the health of the market and the economy, tracking an index that is even older than the Dow Jones Industrial Average .

Rather than track the 20-biggest transportation and airfreight companies on a price-weighted basis, the ETF will now track 41 companies, including Uber Technologies Inc. (UBER) and Lyft Inc. (LYFT)on a market-cap weighted basis.

Why it matters: The change is a big deal because the transports are part of one of the oldest methods of technical analysis of the market called Dow Theory, which holds that any lasting rally to new highs in the Dow industrials must be accompanied by a new high in the Dow Jones Transportation Average.

It will be interesting to see how investors respond to that change.

Is there a SPAC for that?

Perhaps the only thing buzzier than crypto over the past 12 months has been SPACs, or special-purpose acquisition companies. In 2021, SPACs have raised nearly $100 billion (https://www.marketwatch.com/story/if-you-missed-out-on-the-spac-craze-youre-probably-better-off-11619813697) in initial public offerings -- more than the amount SPAC IPOs raised from 2003 to 2019 combined.

However, the SPAC phenomenon, which became a popular way for companies to be taken public, is suffering a powerful downturn but that hasn't stopped the rollout of a new fund pegged to the SPAC craze.

Tuttle Capital Management earlier this week launched the Short De-SPAC ETF (SOGU), which aims to benefit from declines in the SPAC market.

Comments from the Securities and Exchange Commission, who said they were reviewing the accounting (https://www.bloomberg.com/news/articles/2021-04-23/audited-spac-statements-should-no-longer-be-relied-upon) behind SPACs and their issuance, also helped to add to the chill in the space.

The Defiance Next Gen SPAC Derived ETF (SPAK) is down 30% over the past three months and down 16% so far this year.

So a fund that would bet against the universe of companies that have been taken public through a SPAC is either late or right on time.

Chart of the week

Sector ETFs  Sector  Net finlows in past month ($ million) 
Financial Select Sector SPDR Fund XLF  Financials  2.524 
Health Care Select Sector SPDR Fund XLV  Healthcare  1.433 
SPDR S&P Regional Banking ETFKRE  Financials  999 
Materials Select Sector SPDR Fund XLB  Materials  953 
Vanguard Real Estate ETF VNQ  Real Estate  776 
SPDR S&P Biotech ETF XBI  Biotech  450 
iShares U.S. Financial Services ETF IYG  Financials  448 
Consumer Staples Select Sector SPDR Fund XLP  Consumer Staples  441 
Vanguard Information Technology ETF VGT  Info tech  352 
SPDR S&P Metals & Mining ETF XME  Materials  325 
 
Totals    $7.049 Source: CFRA 

This table highlights the increasing focus on bank stocks in this phase of the recovery from the COVID pandemic.

The Wall Street Journal recently wrote (https://www.wsj.com/articles/u-s-bank-stocks-shine-as-investors-bet-on-an-economic-recovery-11621330381) that about $32 billion has been poured into broad financial stocks this year, citing data from Bank of America strategists.

"The biggest factor driving flows into the financials has been a belief that 2020 marks a secular low point so far as interest rates and inflation," WSJ quotes Michael Hartnett, chief investment strategist at Bank of America, as saying.

-Mark DeCambre; 415-439-6400; AskNewswires@dowjones.com

	

(END) Dow Jones Newswires

May 20, 2021 14:02 ET (18:02 GMT)

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