What: Shares of energy-efficiency expert Ameresco, Inc. (NYSE:AMRC) surged 17% on March 2. Since mid-February, the company's stock price has gone up almost 45%. After the sharp increase, shares are trading back about where they started the year.
So what: No news today, indicating that the primary driver was likely pre-earnings speculation. Furthermore, Ameresco's market capitalization is below $300 million, and CEO George Sakellaris owns about two-thirds of the company, meaning its shares are pretty thinly traded, and it doesn't take as much to move them in a big way as it would a larger company with less concentrated ownership.
Now what: Stay tuned for analysis of earnings when it's released on March 3. Nothing new happened on March 2, but there will be plenty to talk about -- and material things to inform your investing choices -- when we get a chance to review the financial release and hear management's comments on the business.