Eco-Stim Energy Solutions Inc (ESES) Shares Up 22.2%
Eco-Stim Energy Solutions Inc (NASDAQ:ESES)’s share price shot up 22.2% during trading on Monday . The stock traded as high as $2.75 and last traded at $2.70, with a volume of 80,321 shares changing hands. The stock had previously closed at $2.21.
Several research firms have issued reports on ESES. Zacks Investment Research cut shares of Eco-Stim Energy Solutions from a “hold” rating to a “sell” rating in a research report on Monday. FBR & Co reissued a “buy” rating and issued a $7.00 price objective on shares of Eco-Stim Energy Solutions in a research report on Tuesday, April 19th. Finally, Credit Suisse Group AG began coverage on shares of Eco-Stim Energy Solutions in a research report on Monday. They issued an “outperform” rating and a $5.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Eco-Stim Energy Solutions currently has an average rating of “Buy” and a consensus price target of $5.88.
The firm’s market capitalization is $36.50 million. The firm has a 50 day moving average of $2.74 and a 200 day moving average of $2.51.
Eco-Stim Energy Solutions (NASDAQ:ESES) last posted its quarterly earnings results on Thursday, May 12th. The company reported ($0.36) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by $0.05. The firm had revenue of $1.80 million for the quarter, compared to analysts’ expectations of $3 million. The company’s quarterly revenue was down 36.7% compared to the same quarter last year. Equities analysts expect that Eco-Stim Energy Solutions Inc will post ($1.05) earnings per share for the current fiscal year.
In other Eco-Stim Energy Solutions news, major shareholder Argentina Opportunit Bienville purchased 13,600 shares of the firm’s stock in a transaction dated Friday, July 1st. The shares were purchased at an average cost of $2.75 per share, with a total value of $37,400.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Eco-Stim Energy Solutions, Inc is an oilfield services company. The Company provides well stimulation, coiled tubing and field management services to the upstream oil and gas industry. The Company focuses on the active shale and unconventional oil and natural gas basins outside the United States and it has commenced operations in Argentina.
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