In recent market activity, Michael D. Farkas, a major shareholder of EzFill Holdings Inc (NASDAQ:EZFL), has made notable purchases of the company's stock, according to the latest SEC filings. Over two consecutive days, Farkas has acquired a total of 10,000 shares of EzFill Holdings, investing approximately $20,985.
The transactions occurred on June 5th and 6th, with shares being bought at average prices ranging from $2.051 to $2.146 per share. On the first day, the average price per share was $2.146, while on the following day, it dropped slightly to an average of $2.051. It's worth noting that these figures represent the average sale prices within a range, with the actual transactions occurring between $2.00 and $2.21 across both days.
Following these acquisitions, Farkas's ownership in EzFill Holdings Inc has increased, now holding a total of 1,244,731 shares directly. This move by a significant shareholder may be of interest to current and potential investors, as insider transactions are often considered a reflection of an insider’s confidence in the company's prospects.
EzFill Holdings Inc, which operates under the retail-auto dealers and gasoline stations industry, has been the subject of investor attention, and these recent purchases by Farkas provide additional context for market watchers following the company's stock performance.
Investors and analysts alike often monitor insider buying and selling as it can provide insights into the company's financial health and future expectations. The detailed figures and specifics of these transactions can be found in the company's Form 4 filed with the SEC.
In other recent news, EzFill Holdings, Inc. has announced new client agreements and a service expansion in Orlando. The mobile fuel industry leader has secured contracts to supply fuel delivery services to Miami-based Fuse Specialty Appliance and GFC Crane Consultants. Additionally, EzFill is broadening its existing service with L&W Supply to include the Rockledge location. These developments are projected to increase annual fuel delivery by roughly 157,000 gallons, generating an estimated additional revenue of $672,000, according to Interim CEO Yehuda Levy. The company's growth in its client base and service expansion mirror a wider industry trend, with corporations such as Shell (LON:SHEL), Exxon (NYSE:XOM), GM, Bridgestone, Enterprise, and Mitsubishi investing in on-demand mobile fueling services. These recent developments come as part of EzFill's ongoing business strategy.
InvestingPro Insights
Amidst the insider trading activity by Michael D. Farkas, EzFill Holdings Inc (NASDAQ:EZFL) presents a mixed financial landscape. The recent data from InvestingPro paints a detailed picture of the company's current market standing. With a market capitalization of $9.96 million, EzFill Holdings Inc is navigating through challenging financial waters. The company's P/E ratio stands at -1.02, reflecting its earnings are in the negative, which is consistent with the lack of profitability over the last twelve months. Additionally, while the revenue has grown by 37.06% in the last twelve months as of Q1 2024, the company's gross profit margin remains low at 6.79%, indicating struggles in maintaining profitability on its sales.
InvestingPro Tips highlight that EzFill operates with a significant debt burden and may have trouble making interest payments on its debt, which is a critical factor for investors to consider. Moreover, the company's stock has taken a substantial hit over the last week, with a price total return of -15.17%, and has fared poorly over the last month, with a -27.38% return. Such volatility might reflect market reactions to the company's financial state and operational challenges.
For those interested in a deeper analysis, there are additional 11 InvestingPro Tips available for EzFill Holdings Inc, which can be accessed through the dedicated page at https://www.investing.com/pro/EZFL. These insights could provide valuable context for investors trying to gauge the potential risks and opportunities associated with EzFill Holdings. To enhance your investment research, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of financial data and expert analysis.
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