In a recent transaction on August 20, 2024, Frank S. Lucente, a director of Energy Services of America Corp (OTC:ESOA), sold 5,000 shares of the company's common stock at a weighted average price of $10.30 per share, totaling $51,500. Following the sale, Lucente directly owns 287,137 shares in the company, according to a Form 4 filing with the Securities and Exchange Commission.
The transaction was executed on a single day, and the price represents a weighted average, indicating that the shares may have been sold at varying prices around the reported average. This sale has adjusted Lucente's direct stake in the company, but it should be noted that there are also 38,673 shares owned indirectly through a spouse.
Energy Services of America Corp, based in Huntington, West Virginia, operates in the water, sewer, pipeline, and power line construction industry. The company's stock is traded over-the-counter, which is a marketplace for securities not listed on a formal exchange.
The recent transaction provides current and potential investors with insight into the trading activities of the company’s directors, which can be an important factor to consider when evaluating the stock's performance and the company’s internal perspectives.
In other recent news, Energy Services of America Corporation has broadened its operations with the acquisition of Heritage Painting, LLC, a company recognized for its industrial and commercial painting services in West Virginia and surrounding regions. The acquisition is a strategic move by Energy Services to expand its service portfolio and fortify its regional market position. Heritage Painting, now functioning as a subsidiary of Energy Services, offers a variety of services, including fabricated pipe, large natural gas valves, commercial painting, and floor coatings, serving diverse sectors such as industrial, commercial, fabrication, oil, and gas.
Douglas Reynolds, President and CEO of Energy Services, praised the acquisition, noting Heritage Painting's focus on exceptional customer service and safety, which are in line with Energy Services' core principles. Energy Services, boasting a workforce of over 1,000 employees, primarily operates in the mid-Atlantic and Central regions of the United States, serving a diverse customer base across various industries. The financial details of the acquisition remain undisclosed. These are among the recent developments for the company.
InvestingPro Insights
Following the recent sale of shares by director Frank S. Lucente, investors in Energy Services of America Corp (OTC:ESOA) may be interested in the company's financial health and market performance. An InvestingPro analysis reveals that ESOA has demonstrated a strong return over the last year, with a 155.81% one-year price total return as of the latest data. This impressive surge is also reflected in the short-term, with a one-month price total return of 40.51%.
From a valuation standpoint, ESOA's P/E ratio stands at 15.19, with an adjusted P/E ratio for the last twelve months as of Q3 2024 at a slightly lower 14.25, which may suggest that the stock is trading at a reasonable valuation relative to its earnings. The company's robust revenue growth of 31.56% over the last twelve months further underlines its strong financial performance during this period.
InvestingPro Tips highlight that ESOA has a perfect Piotroski Score of 9, indicating high financial health, and that the stock is trading near its 52-week high, at 98.63% of this peak price. These factors could be pivotal for investors considering the timing of their investment decisions. For those seeking more in-depth analysis, there are additional InvestingPro Tips available on the platform, providing a comprehensive look at ESOA's financials and market position.
With the company operating in a vital infrastructure sector, the robust financial metrics and market performance may offer a compelling narrative for investors. Those interested in further insights can explore more on InvestingPro, which offers a total of 13 InvestingPro Tips for ESOA, including information on profitability and debt levels.
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