On March 04, 2022, Enservco Corp. (ENSV) stock remained bullish throughout the day, as it continued to gain in the after-hours as well. The company has not announced any official news or filed any documents with the SEC, recently. But the Russia-Ukraine conflict has pushed the oil and energy prices to near-record highs.
ENSV stock increased by a good 18.42% during the regular trading session on Friday. The day’s volume remained active at 238% of the average as 3.33 million shares were trading hands. After closing the session in the green at $1.35, ENSV continued to rise in the after-hours as well. The stock was able to add a further 16.30% in the after-hours session with 828.68K shares exchanging hands. Hence, the stock was trading at a value of $1.57 in the after-hours on Friday.
The domestic onshore oil and natural gas industry services provider, Enservco Corp. was founded in 1980..
ENSV Stock Movements
ENSV stock has been on a bullish roll for a good while now. The stock has been in a continued uptrend with occasional profit booking events since as long as February 22, 2022. In the trading session before February 22, the stock had plunged down to its 52-week low of $0.5500. Opening the following session just above the low at $0.5540, ENSV has since been going up. Since the last news from the company were its Q3 financials back in November and the latest SEC filing on March 2, the stock seems to be moving due to external factors. Firstly, the ongoing Russia-Ukraine conflict is one reason, as the conflict has caused a hike in energy prices, making oil prices reach their near-record high. Secondly, the new low in the stock price also provided a good buying opportunity to the investors as the energy market is expected to go up. Thus, the stock entered an uptrend on February 22 which has continued so far with a few hiccups due to profit booking and corrections here and there.
After gaining so much over more than a week, ENSV stock was bound to fall under corrections. So, the stock succumbed to corrections on March 03. Following this, the stock rebounded to resume its bullish roll on Friday once again as oil prices hiked.
Q3 Financial Highlights
In Q3 2021, ENSV had a net loss of $0.02 per share ($0.2 million) on revenue of $3.0 million. Comparatively, the company had a net income of $2.15 per share ($8.4 million) on revenue of $1.8 million in Q3 2021. Q3 2021’s revenue increased by 72$ YOY.
Moreover, the adjusted EBITDA was $(1.5) million in Q3 2021, against $(1.7) million in the prior-year period.
