Energy services of america director sells shares worth $32,400

Energy Services of America Corp (AMEX:OTC:ESOA) director Frank S. Lucente sold 3,000 shares of the company's stock on August 26, according to a recent SEC filing. The transaction was executed at a weighted average price of $10.8 per share, totaling $32,400.

The sale resulted in Lucente's direct holdings in Energy Services of America decreasing to 281,337 shares following the transaction. Additionally, there are 38,673 shares held indirectly by Lucente's spouse. The filing did not indicate any further plans for buying or selling company stock by the director.

Investors often monitor insider transactions as they can provide insights into how the company's leadership views the stock's value and future prospects. However, these transactions can occur for a variety of reasons and may not always reflect the executive's outlook on the company's performance.

Energy Services of America, based in Huntington, West Virginia, specializes in water, sewer, pipeline, and power line construction. The company's shares are traded under the ticker symbol ESOA on the AMEX exchange.

The SEC filing was signed by Charles Crimmel, pursuant to power of attorney, on behalf of Frank S. Lucente on August 27.

In other recent news, Energy Services of America Corporation has broadened its operational scope with the acquisition of Heritage Painting, LLC. Known for its industrial and commercial painting services, Heritage Painting has now become a subsidiary of Energy Services. This acquisition is part of Energy Services' strategy to expand its service portfolio and solidify its market position in the mid-Atlantic and Central regions of the United States.

Heritage Painting has a strong presence in various sectors, including industrial, commercial, fabrication, oil, and gas industries. Its service offerings include fabricated pipe, large natural gas valves, commercial painting, and floor coatings.

Douglas Reynolds, President and CEO of Energy Services, has expressed enthusiasm about the acquisition. He highlighted Heritage Painting's commitment to exceptional customer service and an emphasis on safety, which aligns with Energy Services' core values. The financial terms of this recent development have not been disclosed.

InvestingPro Insights

Amidst the recent insider transaction at Energy Services of America Corp (AMEX:ESOA), investors are keen to understand the company's financial health and stock performance. According to InvestingPro data, ESOA currently holds a market capitalization of $172.67 million, with a P/E ratio of 16.63, reflecting investor sentiment about its earnings potential. The company has experienced a revenue growth of 31.56% over the last twelve months as of Q3 2024, indicating a significant increase in its business activities.

InvestingPro Tips highlight that ESOA has a perfect Piotroski Score of 9, which suggests that the company is financially healthy and has sound operating efficiency. Additionally, despite concerns over weak gross profit margins, with a gross profit margin of 13.76% over the last twelve months as of Q3 2024, the company has shown a high return over the last year, with a 1 Year Price Total Return of 184.75%. These metrics may provide investors with a sense of confidence in the company's stock, which is currently trading near its 52-week high, at 92.83% of the peak price.

Those interested in a deeper dive into Energy Services of America's performance can find further InvestingPro Tips, including insights on debt levels, short-term returns, and profitability, by visiting https://www.investing.com/pro/ESOA. There are a total of 11 additional InvestingPro Tips available, offering a comprehensive analysis for potential investors.

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