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In a recent transaction on August 22, Frank S. Lucente, a director of Energy Services of America Corp (OTC:ESOA), sold 1,800 shares of the company's common stock at a price of $10.3 per share, totaling over $18,540. This sale was disclosed in a regulatory filing with the Securities and Exchange Commission.
Energy Services of America, a company specializing in water, sewer, pipeline, and power line construction, saw this transaction reducing Lucente's direct holdings in the company to 284,337 shares. Additionally, the filing indicated that Lucente has an indirect ownership through his spouse, accounting for 38,673 shares.
Investors often monitor insider transactions as they can provide insights into how the company's executives and directors view the stock's value. The sale by Lucente at a consistent price point offers a clear example of such a transaction. Following the sale, Lucente maintains a substantial stake in the company, indicating continued alignment with the company's performance and shareholder interests.
The filing was signed on behalf of Lucente by Charles Crimmel, pursuant to a power of attorney, and was officially filed on August 26.
In other recent news, Energy Services of America Corporation has broadened its operations with the acquisition of Heritage Painting, LLC. The West Virginia-based firm, known for its industrial and commercial painting services, now operates as a subsidiary of Energy Services. The acquisition aligns with Energy Services' strategy to expand its service portfolio and reinforce its market position.
Heritage Painting's services, which include fabricated pipe, large natural gas valves, commercial painting, and floor coatings, cater to various sectors including industrial, commercial, fabrication, oil, and gas industries. This acquisition is a testament to Energy Services' dedication to exceptional customer service and safety, as expressed by Douglas Reynolds, President and CEO of Energy Services.
These are recent developments that have seen Energy Services strengthen its core values and extend its reach in the mid-Atlantic and Central regions of the United States. The financial terms of the acquisition, however, remain undisclosed.
InvestingPro Insights
Energy Services of America Corp (OTC:ESOA) has been the subject of investor discussions, particularly following the insider transaction involving director Frank S. Lucente. In light of this event, it's beneficial to consider the company's financial health and market performance as reflected in recent data and analysis from InvestingPro.
InvestingPro Data reveals that Energy Services of America has a market capitalization of $166.54 million and has experienced significant revenue growth of 31.56% over the last twelve months as of Q3 2024. This growth is indicative of the company's expanding operations and market presence. The company also maintains a Gross Profit Margin of 13.76%, which, while reflective of some room for improvement, still demonstrates its ability to generate profit from its revenues.
Two notable InvestingPro Tips for Energy Services of America highlight the company's financial performance and stock behavior:
1. Energy Services of America has a high return over the last year, with a 1 Year Price Total Return of 174.64%. This impressive return reflects the company's strong market performance and may be of particular interest to potential investors or current shareholders evaluating the stock's recent momentum.
2. The company is trading near its 52-week high, with a Price % of 52 Week High at 93.37%. This suggests that the stock is currently favored in the market, reaching price points close to the highest it has been in the past year.
For investors seeking more comprehensive insights, there are additional InvestingPro Tips available on https://www.investing.com/pro/ESOA, which include analysis of the company's debt levels, profitability, and price movements over various time frames. These tips can provide a deeper understanding of Energy Services of America's financial health and investment potential.
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