Energy Services of America (NASDAQ:ESOA) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Energy Services of America (NASDAQ:ESOA) to a hold rating in a research report sent to investors on Tuesday morning,Zacks reports.

A number of other research firms have also recently issued reports on ESOA. Weiss Ratings cut Energy Services of America from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 26th. Wall Street Zen cut shares of Energy Services of America from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Energy Services of America presently has a consensus rating of “Hold” and an average price target of $25.00.

Energy Services of America Trading Down 0.4%

NASDAQ ESOA opened at $11.09 on Tuesday. The firm’s 50 day simple moving average is $13.64 and its 200 day simple moving average is $15.00. Energy Services of America has a 1 year low of $7.84 and a 1 year high of $19.94.

Energy Services of America (NASDAQ:ESOA) last released its earnings results on Monday, August 10th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. The business had revenue of $130.01 million for the quarter, compared to the consensus estimate of $112.65 million.

Hedge Funds Weigh In On Energy Services of America

Several large investors have recently bought and sold shares of the company. Needham Investment Management LLC raised its holdings in 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 buying an additional 235,440 shares during the last quarter. Walleye Capital LLC acquired a new position in Energy Services of America in the 1st quarter valued at approximately $922,000. Renaissance Technologies LLC raised its stake in shares of Energy Services of America by 221.3% during the first quarter. Renaissance Technologies LLC now owns 217,500 shares of the company’s stock valued at $2,856,000 after acquiring an additional 149,800 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Energy Services of America during the second quarter worth $16,172,000. Finally, Sei Investments Co. bought a new stake in shares of Energy Services of America in the first quarter worth $1,144,000. 2.13% of the stock is currently owned by institutional investors.

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.