Energy services of america director sells $82,442 in stock

Energy Services of America Corp (NYSEAMERICAN:OTC:ESOA) director Frank S. Lucente sold a total of $82,442 worth of company stock, according to a recent SEC filing. The transactions, which occurred over two consecutive days, involved the sale of shares at prices ranging from $8.91 to $8.99.

On August 14, 2024, Lucente sold 2,190 shares at an average price of $8.91 per share. The following day, he continued to divest, selling 7,000 shares at an average price of $8.99 per share. After these transactions, Lucente still held a significant number of shares in the company, with 296,137 shares remaining in his direct ownership.

The sales were made public through a Form 4 filing with the Securities and Exchange Commission, which requires company insiders to disclose their trading activities. The document also noted that an additional 38,673 shares are held indirectly through Lucente's spouse, indicating a continued vested interest in the company's performance.

The filing was signed on behalf of Lucente by Charles Crimmel, pursuant to a power of attorney, on August 16, 2024.

Energy Services of America, based in Huntington, West Virginia, operates in the water, sewer, pipeline, and power line construction industry. The company's stock is traded under the ticker symbol ESOA on the NYSE American exchange. The disclosed transactions provide investors with insight into the trading behavior of the company's directors, which can be a valuable piece of information when assessing the stock's potential.

In other recent news, Energy Services of America Corporation has broadened its operations with the acquisition of Heritage Painting, LLC, a well-regarded firm specializing in industrial and commercial painting services. This acquisition is part of Energy Services' strategy to diversify its service portfolio and fortify its market position. Heritage Painting, now a subsidiary of Energy Services, offers a variety of services, including fabricated pipe, large natural gas valves, commercial painting, and floor coatings, to various sectors.

Douglas Reynolds, President and CEO of Energy Services, voiced his excitement about the acquisition, underscoring Heritage Painting's dedication to excellent customer service and safety, principles that Energy Services also holds dear. The financial details of the acquisition remain undisclosed. These developments are recent, reflecting the ongoing growth and expansion of Energy Services.

InvestingPro Insights

Amidst the recent insider trading activity, Energy Services of America Corp (NYSEAMERICAN:ESOA) has demonstrated notable financial metrics that could be of interest to investors. The company, which specializes in construction services for various utility infrastructures, has seen significant returns, with a one-year price total return of 151.63% as of the last twelve months ending Q3 2024. This impressive performance is also reflected in the short-term, with a one-week price total return of 33.68%, suggesting a positive investor sentiment towards the company's stock.

Energy Services of America's financial health appears robust, with a Piotroski Score of 9, indicating a high level of financial stability. Moreover, the company's market capitalization stands at $149.3 million, and it has achieved a substantial revenue growth of 31.56% over the last twelve months as of Q3 2024. However, it's worth noting that the company operates with a gross profit margin of 13.76%, which might be considered weak compared to industry standards.

These financial indicators, coupled with the fact that the stock is trading near its 52-week high, at 94.84% of this peak, may provide valuable context for investors analyzing the recent insider sales. For those looking to delve deeper into the company's performance and prospects, there are additional InvestingPro Tips available, offering a more comprehensive analysis. Currently, there are 10 more InvestingPro Tips listed for ESOA, which can be accessed for those seeking an in-depth understanding of the company's financial position and market performance.

For investors interested in exploring these insights and more, they can find them at InvestingPro's dedicated ESOA page: https://www.investing.com/pro/ESOA.

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