Energy Services of America Corp. (OTCMKTS:ESOA) Surges On Financial News
[[tagnumber 0]][[tagnumber 1]]Energy Services of America Corp. (OTCMKTS:ESOA) in an OTC listed company that has small chart movements and often finishes sessions without a single traded share. It has hovered above the $1 per share mark for quite some time and things were looking pretty stable.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The company seems to be unattractive to most OTC traders who seek volatility and big profits. One of the main reasons for this becomes apparent when you open up the latest financial filing available at the SEC website. It covers the quarterly period ended July 30 and contains the following numbers of prime interest.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 9]] [[tagnumber 10]]cash: $1.81 million[[tagnumber 11]] [[tagnumber 10]]current assets: $36.55 million[[tagnumber 11]] [[tagnumber 10]]current liabilities: $17.06 million[[tagnumber 11]] [[tagnumber 10]]quarterly revenues: $35.12 million[[tagnumber 11]] [[tagnumber 10]]net income $706 thousand[[tagnumber 11]] [[tagnumber 20]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Those numbers are pretty decent and certainly something you rarely see in the balance sheet of a company listed on the OTC marketplace, but they do not suggest a lot of volatility. Still, some positive news are capable of stirring things up for a while.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Yesterday the company announced its earnings for the fiscal 2015 and they looked quite good. This led to a 9.09% increase in [[tagnumber 28]]ESOA’s[[tagnumber 29]] price which pushed the ticker for a close at $1.20. Although the volume was nearly ten times the average the 71 thousand traded shares managed to generate only $85 thousand in daily trade value.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]It seems that investors quickly lost interest and [[tagnumber 28]]ESOA[[tagnumber 29]] won’t be able to build momentum on yesterday’s news. This is apparent by the lack of any trades in today’s session so far.[[tagnumber 2]]
