In a recent series of transactions, Giorgio R. Saumat, CEO of Earth Science Tech, Inc. (OTC:ETST), acquired a total of 196,844 shares of the company's common stock. The purchases, made on November 19, 2024, were executed at prices ranging from $0.147 to $0.165 per share, totaling approximately $29,420. These acquisitions were conducted on the open market, increasing Saumat's direct ownership to 121,712,526 shares. Earth Science Tech, based in Miami, operates in the pharmaceutical preparations industry.
In other recent news, Earth Science Tech, Inc. has seen significant changes in its corporate structure and operations. The company has completed two acquisitions: Avenvi, LLC, a real estate holding entity, and Mister Meds, LLC, a Texas-based firm. The acquisitions were approved by the Board of Directors and involved company executives as sellers.
In addition to the acquisitions, Earth Science Tech has launched a new brand, Zoolzy, under Peaks Curative, LLC. Zoolzy offers specialized compounded medications for pets and wildlife. The company has also relocated its principal office to a larger space in Miami, FL.
A change in executive compensation has been announced, with CEO Giorgio R. Saumat and COO Mario G. Tabraue set to receive a percentage of the company's monthly cash receipts, contingent on the company's net profit growth. Furthermore, Tabraue will step down from his positions within the company's subsidiaries to focus on his COO responsibilities.
Lastly, Earth Science Tech has repurchased over 11 million shares of its common stock as part of a buyback program. These are the recent developments within the company.
InvestingPro Insights
The recent stock purchases by Earth Science Tech's CEO Giorgio R. Saumat align with a broader trend of management confidence in the company. According to InvestingPro Tips, the management has been aggressively buying back shares, which often signals a belief in the company's undervaluation or future prospects.
Despite the CEO's recent acquisitions, InvestingPro data shows that ETST's stock has faced challenges, with a 25.02% decline over the past month. This short-term performance contrasts with the company's impressive 99.83% price return over the last year, suggesting significant volatility.
From a financial perspective, Earth Science Tech demonstrates strong fundamentals. The company boasts a perfect Piotroski Score of 9, indicating robust financial health. Additionally, ETST has been profitable over the last twelve months, with a P/E ratio of 18.42, which is relatively moderate for a growth company in the pharmaceutical preparations industry.
The company's revenue growth is particularly noteworthy, with InvestingPro data revealing a staggering 1124.57% increase in the last twelve months. This exceptional growth rate underscores the company's expanding market presence and could be a factor in management's decision to increase their stake.
For investors seeking more comprehensive analysis, InvestingPro offers 6 additional tips for ETST, providing a deeper understanding of the company's financial position and market performance.
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