Energy Services of America (NASDAQ:ESOA) Stock Rating Raised to “Strong-Buy” at Roth Capital

Energy Services of America (NASDAQ:ESOA) was upgraded by equities research analysts at Roth Capital to a “strong-buy” rating in a report released on Thursday, Zacks reports.

A number of other equities research analysts have also recently weighed in on ESOA. Wall Street Zen cut Energy Services of America from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Zacks Research raised Energy Services of America to a “hold” rating in a research report on Tuesday, September 15th. Finally, Weiss Ratings lowered shares of Energy Services of America from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Energy Services of America has an average rating of “Moderate Buy” and an average target price of $22.50.

Energy Services of America Stock Performance

ESOA opened at $11.09 on Thursday. Energy Services of America has a 52-week low of $7.84 and a 52-week high of $19.94. The firm’s 50-day moving average price is $12.97 and its 200-day moving average price is $14.83.

Energy Services of America (NASDAQ:ESOA) last issued its quarterly 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 during the quarter, compared to analyst estimates of $112.65 million.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Energy Services of America in the second quarter valued at about $16,172,000. Needham Investment Management LLC increased its holdings in Energy Services of America by 67.3% during the 4th quarter. Needham Investment Management LLC now owns 585,440 shares of the company’s stock worth $4,783,000 after purchasing an additional 235,440 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Energy Services of America in the 2nd quarter valued at approximately $3,000,000. Renaissance Technologies LLC raised its position in shares of Energy Services of America by 221.3% in the 1st quarter. Renaissance Technologies LLC now owns 217,500 shares of the company’s stock valued at $2,856,000 after purchasing an additional 149,800 shares in the last quarter. Finally, Raffles Associates LP purchased a new position in shares of Energy Services of America during the 2nd quarter valued at approximately $2,793,000. 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.