Short Interest in Energy Services of America Co. (NASDAQ:ESOA) Drops By 13.6%

Energy Services of America Co. (NASDAQ:ESOA) saw a significant drop in short interest during the month of February. As of February 13th, there was short interest totaling 877,736 shares, a drop of 13.6% from the January 29th total of 1,015,710 shares. Based on an average daily volume of 403,062 shares, the days-to-cover ratio is presently 2.2 days. Based on an average daily volume of 403,062 shares, the days-to-cover ratio is presently 2.2 days.

Analyst Upgrades and Downgrades

ESOA has been the topic of a number of research analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Energy Services of America in a report on Monday, December 29th. Wall Street Zen raised shares of Energy Services of America from a “hold” rating to a “strong-buy” rating in a research note on Saturday, February 14th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Energy Services of America Stock Performance

ESOA traded down $0.25 on Thursday, reaching $14.70. The company’s stock had a trading volume of 155,483 shares, compared to its average volume of 275,783. The stock has a 50 day moving average of $10.62 and a two-hundred day moving average of $10.10. Energy Services of America has a fifty-two week low of $7.64 and a fifty-two week high of $15.84.

Energy Services of America (NASDAQ:ESOA) last announced its earnings results on Monday, February 9th. The company reported $0.16 earnings per share (EPS) 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 analyst estimates of $97.70 million.

Energy Services of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.12 dividend on an annualized basis and a yield of 0.8%. Energy Services of America’s dividend payout ratio (DPR) is 65.57%.

Insider Activity at Energy Services of America

In related news, Director Marshall T. Reynolds sold 100,000 shares of the company’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $8.37, for a total transaction of $837,000.00. Following the completion of the transaction, the director directly owned 1,425,373 shares in the company, valued at $11,930,372.01. This represents a 6.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Douglas V. Reynolds acquired 4,000 shares of the company’s stock in a transaction dated Friday, December 19th. The shares were bought at an average price of $8.07 per share, for a total transaction of $32,280.00. Following the acquisition, the president owned 1,474,961 shares in the company, valued at approximately $11,902,935.27. This trade represents a 0.27% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 9,100 shares of company stock valued at $75,615. 44.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Energy Services of America

Several hedge funds have recently made changes to their positions in the business. Needham Investment Management LLC boosted its holdings in shares of Energy Services of America by 67.3% in the 4th quarter. Needham Investment Management LLC now owns 585,440 shares of the company’s stock valued at $4,783,000 after purchasing an additional 235,440 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Energy Services of America by 90.4% in the 3rd quarter. Millennium Management LLC now owns 382,589 shares of the company’s stock worth $3,960,000 after purchasing an additional 181,631 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Energy Services of America by 111.3% during the second quarter. Geode Capital Management LLC now owns 267,626 shares of the company’s stock valued at $2,661,000 after buying an additional 140,986 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in shares of Energy Services of America by 51.6% during the second quarter. Balyasny Asset Management L.P. now owns 373,165 shares of the company’s stock valued at $3,709,000 after purchasing an additional 127,016 shares in the last quarter. Finally, EHP Funds Inc. bought a new position in Energy Services of America during the 2nd quarter valued at $1,112,000. Institutional investors and hedge funds own 2.13% of the company’s stock.

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.