Energy Services of America (NASDAQ:ESOA) Rating Increased to Hold at Zacks Research

Energy Services of America (NASDAQ:ESOA) was upgraded by investment analysts at Zacks Research to a “hold” rating in a research note issued to investors on Tuesday, Zacks reports.

Several other research firms have also recently issued reports 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. Weiss Ratings downgraded shares of Energy Services of America from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 26th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $25.00.

Energy Services of America Stock Down 0.4%

Shares of NASDAQ ESOA opened at $11.09 on Tuesday. Energy Services of America has a 52 week low of $7.84 and a 52 week high of $19.94. The firm’s fifty day moving average is $13.64 and its 200 day moving average is $15.00.

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

Hedge Funds Weigh In On Energy Services of America

Institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC boosted its holdings in shares of Energy Services of America by 61.0% during the 2nd quarter. Squarepoint Ops LLC now owns 75,850 shares of the company’s stock valued at $1,467,000 after buying an additional 28,738 shares in the last quarter. Raffles Associates LP purchased a new stake in Energy Services of America in the second quarter worth about $2,793,000. Bank of America Corp DE bought a new position in shares of Energy Services of America during the second quarter valued at approximately $2,364,000. PDT Partners LLC purchased a new position in shares of Energy Services of America during the second quarter valued at approximately $763,000. Finally, Manatuck Hill Partners LLC purchased a new position in shares of Energy Services of America during the second quarter valued at approximately $967,000. Institutional investors own 2.13% of the company’s stock.

Energy Services of America Company Profile

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.