24/7 Market News Snapshot 13 Aug 2024 – Energy Services of America Corporation Common Stock (NASDAQ: ESOA)

August 13, 2024 12:57

Press Release

DENVER, Colo., 13 August, 2024 (247marketnews.com) – (Nasdaq:ESOA) are discussed in this article.
Energy Services of America Corporation (ESOA) has garnered notable attention today with an impressive stock surge. Initially opening at $7.95, ESOA’s stock has risen by 39.49%, now trading at $9.33. This marked increase, up from the previous close of $6.69, indicates substantial bullish sentiment and increased trading activity, evidenced by a trading volume that has reached 1.0 million shares. Key resistance levels are anticipated around $9.50, with support near the opening price of $7.95, suggesting a pivotal moment for investors closely monitoring the stock for potential gains or profit-taking opportunities.

In alignment with this strong market performance, Energy Services of America Corporation (Nasdaq:ESOA) has announced impressive achievements for its fiscal third quarter ending June 30, 2024. Demonstrating strategic growth and operational proficiency, the company reported a 510 basis point uptick in gross margin alongside a 13 percent sequential rise in backlog. These metrics highlight the company’s capacity to effectively manage costs while optimizing revenue streams, reinforcing its robust operational framework.

The increase in backlog reflects strengthened market positioning and heightened demand for ESOA’s comprehensive energy services. This 13 percent growth is indicative of the company’s success in project acquisition and execution, showcasing its ongoing focus on expanding business pipelines and reinforcing client relations.

A spokesperson for Energy Services of America Corporation noted the alignment of these accomplishments with the company’s strategic vision and growth targets. The enhancements in gross margin and backlog underscore ESOA’s resilient business model and dedication to delivering exceptional client and stakeholder value.

With forward-looking strategies poised to sustain and accelerate growth, Energy Services remains committed to innovation, efficiency, and client satisfaction. The company continues to establish itself as a prominent player in the energy sector, driving value creation and maintaining operational excellence.

Gratitude is extended to the dedicated ESOA team, whose efforts have been instrumental in achieving these milestones and setting the stage for future success. Investors, analysts, and stakeholders are encouraged to join ESOA in recognizing these significant accomplishments and supporting the company’s trajectory of sustained growth and industry leadership.

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