Insider Activity to Watch: Energy Services Of America Corp. $ESOA

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Energy Services Of America Corp. (ESOA) insider have most recently took part in a trading activity. On Dec 20, 2017 Reynolds Douglas V, President bought 11,516 shares having total worth of $10,134 at the price of $0.88 per share, following the transaction a total of 29,920 shares owned by Reynolds Douglas V. Before this latest buy, Reynolds Douglas V purchased ESOA at 2 other times during the past twelve months, for a total investment of $106,896 at an average of $12500.69 per share.

Furthermore, over the past 12 months , the stock was traded 4 times by insiders. In 1 of these trades, the insider was a seller while an employee of the company was the buyer in 3 instances.

Energy Services of America Corporation, formerly known as Energy Services Acquisition Corp., was incorporated in Delaware on March 31, 2006 as a blank check company whose objective was to acquire an operating business or businesses. It completed its initial public offering on September 6, 2006. The Company operated as a blank check company until August 15, 2008. On that date the Company acquired S.T. Pipeline, Inc. and C.J. Hughes Construction Company, Inc. with proceeds from the Company’s Initial Public Offering. S. T. Pipeline and C. J Hughes operate as wholly owned subsidiaries of the Company. S.T. engages in the construction of natural gas pipelines for utility companies in various states, mostly in the mid-Atlantic area of the country. S.T.’s contracts are mainly fixed price contract with some cost-plus service work performed as requested. All of the Company’s production personnel are union members of the various related construction trade unions and are subject to collective bargaining agreements that expire at varying time intervals. C.J. Hughes Construction Company, Inc. is a general contractor mainly engaged in pipeline construction for utility companies. C.J. Hughes operates mainly in the mid-Atlantic region of the country. Nitro Electric Company, Inc., a wholly owned subsidiary of C. J. Hughes, is involved in electrical contracting providing its services to the power and refining industry. Nitro Electric operates mainly in the mid-Atlantic region of the country. The main raw materials that the Company uses are metal plate, structural steel, pipe, wire, fittings and selected engineering equipment such as pumps, valves and compressors. The Company’s largest competitors are Otis Eastern, Miller pipeline, Green Electric, Summit Electric and Apex Pipeline. The Company’s insurance coverage for property damage to its equipment is based on estimates of the cost of comparable used equipment to replace the insured property.

William White

William White is a financial writer. He graduated with a degree in Economics. He has contributed to major financial websites and print publications for over 8 years. He handles much of this site's news coverage for corporate insider activity, and occasionally cover other areas of financial sector.

About the Author

William White
William White is a financial writer. He graduated with a degree in Economics. He has contributed to major financial websites and print publications for over 8 years. He handles much of this site's news coverage for corporate insider activity, and occasionally cover other areas of financial sector.