Energy Services of America (NASDAQ:ESOA) Stock Picked Up by Analysts at Roth Capital

Equities researchers at Roth Capital began coverage on shares of Energy Services of America (NASDAQ:ESOA) in a note issued to investors on Thursday, MarketBeat.com reports. The firm set a “buy” rating and a $20.00 price target on the stock. Roth Capital’s price objective would indicate a potential upside of 79.86% from the company’s current price.

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

Energy Services of America Stock Performance

NASDAQ ESOA traded up $0.03 on Thursday, reaching $11.12. The stock had a trading volume of 74,908 shares, compared to its average volume of 173,546. The firm has a fifty day moving average of $12.97 and a two-hundred day moving average of $14.83. 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 announced its earnings results on Monday, August 10th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $130.01 million during the quarter, compared to the consensus estimate of $112.65 million.

Institutional Investors Weigh In On Energy Services of America

A number of hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC increased its holdings in shares of Energy Services of America by 61.0% during the second quarter. Squarepoint Ops LLC now owns 75,850 shares of the company’s stock worth $1,467,000 after buying an additional 28,738 shares in the last quarter. Raffles Associates LP bought a new stake in Energy Services of America during the 2nd quarter worth $2,793,000. Bank of America Corp DE bought a new stake in Energy Services of America during the 2nd quarter worth $2,364,000. PDT Partners LLC bought a new position in Energy Services of America in the second quarter valued at about $763,000. Finally, Manatuck Hill Partners LLC acquired a new stake in shares of Energy Services of America during the second quarter valued at about $967,000. 2.13% of the stock is currently owned by institutional investors and hedge funds.

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.