Energy Services of America Corp. (OTC:ESOA) director Frank S. Lucente sold shares worth $15,980 in a transaction on March 15, 2024. The sale involved 2,000 shares of the company's common stock at a weighted average price of $7.99 per share. Following the sale, Lucente still holds a significant stake in the company, with 308,327 shares of common stock directly owned, and an additional 38,673 shares indirectly owned through his spouse.
The transaction was disclosed in a regulatory filing with the Securities and Exchange Commission. Energy Services of America Corp., based in Huntington, West Virginia, operates in the water, sewer, pipeline, and power line construction industry. This sale by a director may interest investors as it reflects a change in the insider's holdings of the company's stock.
Investors often monitor insider transactions as they can provide insights into how the company's leadership perceives the value of the firm's stock and its prospects. While insider selling does not necessarily indicate a lack of confidence in the company, it does contribute to the overall picture of insider sentiment and may be one of many factors considered by shareholders in their investment decisions.
Energy Services of America has not provided any comments on the transaction, and the filing does not suggest any specific reason behind the director's decision to sell shares at this time. Investors are encouraged to review the full details of the transaction in the company's Form 4 filing and consider it in the context of their individual investment strategy and the company's recent performance and future outlook.
InvestingPro Insights
Amidst the news of Energy Services of America Corp. (OTC:ESOA) director Frank S. Lucente's recent stock sale, investors seeking a deeper understanding of the company's financial health can turn to real-time data from InvestingPro. With a market capitalization of $126.74 million, Energy Services of America shows a P/E ratio of 14.03, which adjusts slightly higher to 14.41 when looking at the last twelve months as of Q1 2024. This moderate valuation is paired with an impressive revenue growth of 55.47% during the same period, highlighting the company's significant top-line expansion.
Investors might also find the company's profitability metrics interesting. Energy Services of America has a gross profit margin of 12.47% as of the last twelve months leading up to Q1 2024. Although the margin suggests some room for improvement, it is important to note that the company has been profitable over the past year, as indicated by an adjusted operating income of $16.01 million.
Turning to performance, an InvestingPro Tip highlights Energy Services of America's high return over the last year, with a one-year price total return of 252.57%. This is further bolstered by strong returns over the last three months, showing a 118.0% increase. Such figures may suggest a positive trend in investor sentiment and market performance for the company. However, the company operates with a moderate level of debt, which is an important factor for investors to consider in the context of their risk tolerance and investment strategy.
For those interested in additional insights, InvestingPro offers more InvestingPro Tips for Energy Services of America, providing a comprehensive analysis of the company's financials and market performance. With the use of the coupon code PRONEWS24, investors can receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to a total of 9 InvestingPro Tips that could further inform their investment decisions.
Before making any investment decisions, investors are encouraged to review all available data and consider how the company's recent insider transactions, financial metrics, and performance align with their individual investment goals and strategies.
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