Energy Services of America Corp (OTC:ESOA) director Mark Prince has recently increased his stake in the company, purchasing shares valued at a total of $114,860. The transactions, which took place on March 20 and March 21, were reported in a recent filing with the Securities and Exchange Commission.
On the first day, Prince acquired 4,000 shares at a weighted average price of $8.09 per share. He followed up with a larger purchase the next day, buying 10,000 shares at an average of $8.25 each. These transactions expanded Prince's ownership in the company to a total of 75,071 shares.
These acquisitions by a member of the company's board are often viewed by investors as a sign of confidence in the firm's future prospects. The price range for these purchases provides a snapshot of the value the director sees in the company at current levels.
Energy Services of America Corp, headquartered in Huntington, West Virginia, operates in the water, sewer, pipeline, and power line construction industry. The company's shares are traded over the counter, and it has a history of providing a range of services in the energy sector.
Investors and market watchers often pay close attention to insider transactions such as these, as they can provide valuable insights into the perspectives of those who know the company best.
InvestingPro Insights
Energy Services of America Corp (OTC:ESOA) has been making waves in the market, with director Mark Prince's recent share purchases underlining the confidence within the company's leadership. In light of these developments, here are some notable metrics and tips from InvestingPro that could provide investors with a deeper understanding of the company's current financial health and performance.
The company's market capitalization stands at a solid $133.55 million, reflecting investor confidence and market valuation. A key metric that stands out is the company's P/E ratio, which at 14.03, and slightly adjusted to 14.7 for the last twelve months as of Q1 2024, indicates a potentially favorable valuation compared to industry peers. Moreover, the PEG ratio for the same period is an impressive 0.06, suggesting that the company's earnings growth is not fully reflected in its share price, a point of interest for value investors.
InvestingPro Tips highlight the company's strong performance, with a high return over the last year and a significant price uptick over the last six months. Specifically, the 1 Year Price Total Return as of Q1 2024 is an astonishing 269.83%, and the 3 Month Price Total Return stands at 57.65%. This momentum is further evidenced by the company trading near its 52-week high, with its price at 91.83% of this peak.
While the company does suffer from weak gross profit margins, currently at 12.47%, it has been profitable over the last twelve months. This profitability, combined with a moderate level of debt, may offer a balanced risk profile for potential investors.
To gain further insight into Energy Services of America Corp and access additional InvestingPro Tips, interested readers can visit InvestingPro. There are a total of 10 InvestingPro Tips available, which can be accessed with an additional 10% off a yearly or biyearly Pro and Pro+ subscription using the coupon code PRONEWS24.
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