Energy Services of America Co. (NASDAQ:ESOA) Sees Large Drop in Short Interest

Energy Services of America Co. (NASDAQ:ESOA) was the recipient of a significant decline in short interest during the month of February. As of February 27th, there was short interest totaling 731,220 shares, a decline of 16.7% from the February 12th total of 877,736 shares. Based on an average daily volume of 429,429 shares, the days-to-cover ratio is presently 1.7 days. Based on an average daily volume of 429,429 shares, the days-to-cover ratio is presently 1.7 days.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ESOA. Weiss Ratings reissued a “hold (c-)” rating on shares of Energy Services of America in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Energy Services of America from a “hold” rating to a “strong-buy” rating in a research note on Saturday, February 14th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Energy Services of America presently has an average rating of “Moderate Buy” and an average target price of $21.00.

Insider Buying and Selling

In other news, Director Marshall T. Reynolds sold 100,000 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $8.37, for a total value of $837,000.00. Following the completion of the sale, the director directly owned 1,425,373 shares of the company’s stock, valued at approximately $11,930,372.01. This represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Douglas V. Reynolds bought 4,000 shares of the business’s stock in a transaction dated Friday, December 19th. The stock was acquired at an average cost of $8.07 per share, for a total transaction of $32,280.00. Following the completion of the acquisition, the president directly owned 1,474,961 shares in the company, valued at approximately $11,902,935.27. This trade represents a 0.27% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 9,100 shares of company stock valued at $75,615 over the last ninety days. 44.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. acquired a new position in Energy Services of America during the 2nd quarter worth approximately $666,000. EHP Funds Inc. acquired a new stake in shares of Energy Services of America in the 2nd quarter valued at approximately $1,112,000. SG Americas Securities LLC acquired a new stake in shares of Energy Services of America in the 2nd quarter valued at approximately $284,000. FourWorld Capital Management LLC boosted its stake in shares of Energy Services of America by 142.7% in the second quarter. FourWorld Capital Management LLC now owns 80,554 shares of the company’s stock valued at $801,000 after buying an additional 47,369 shares in the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Energy Services of America in the second quarter valued at approximately $277,000. 2.13% of the stock is owned by hedge funds and other institutional investors.

Energy Services of America Price Performance

Shares of Energy Services of America stock traded up $0.43 during trading hours on Monday, hitting $12.99. 60,433 shares of the company were exchanged, compared to its average volume of 259,961. The business has a 50-day moving average of $11.41 and a 200-day moving average of $10.29. Energy Services of America has a 1 year low of $7.64 and a 1 year high of $15.84.

Energy Services of America (NASDAQ:ESOA) last posted its quarterly earnings data on Monday, February 9th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. The firm had revenue of $114.11 million during the quarter, compared to analysts’ expectations of $97.70 million.

Energy Services of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, December 31st. Energy Services of America’s payout ratio is 65.57%.

About Energy Services of America

Energy Services of America, Inc (NASDAQ: ESOA) is a provider of natural gas compression equipment and services to energy producers, pipeline operators, and landowners across North America. The company designs, manufactures, and distributes compression systems tailored to meet the needs of natural gas gathering, processing and transmission applications. Its offerings include the sale, lease, and repair of both new and reconditioned compression units, as well as aftermarket parts and field services that support ongoing system performance and reliability.

In addition to core compression services, Energy Services of America delivers turnkey solutions for pipeline operators and gas processors.