HomeFinancial MarketsWhy Enservco Corporation (ENSV) stock performed well on Monday?

Why Enservco Corporation (ENSV) stock performed well on Monday?

Enservco Corporation (ENSV) shares went up 1.18% in after-hours on Monday, October 4, 2021, and closed the daily trading at $1.71. Even in the regular trading session of Monday, ENSV’s stock gained 14.97%. ENSV shares have fallen 27.82% over the last 12 months, and they have moved up 31.01% in the past week. Over the past three months, the stock has gained 10.46%, while over the past six months, it has declined 5.59%.

Let’s see what’s going on recently with the company?


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ENSV recent financial results announcement

On August 05, 2021, Enservco Corporation (ENSV) reported financial results for its second quarter and six-month period ended June 30, 2021.

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Q2 2021 financial highlights

  • ENSV reported total revenue of $3.1 million in Q2 2021 compared to $2.1 million in Q2 2020.
  • Sales, general and administrative expenses were $1.0 million in Q2 2021 compared to $1.2 million in Q2 2020.
  • Total operating expenses were $6.0 million, the same in Q2, 2021 and 2020.
  • It suffered a net loss of $1.6 million, or $0.14 per diluted share, in the second quarter, compared to a net loss of $4.4 million, or $1.18 per diluted share, in the second quarter of 2020.
  • Adjusted EBITDA was negative $1.6 million in Q2 2021 compared to a negative $2.1 million in Q2 2020.

ENSV Q1 2021 financial highlights

  • The company earned total revenue of $5.1 million in Q1 2021 compared to $9.4 million in Q1 2020.
  • Sales, general and administrative expenses were $1.0 million in Q1 2021 compared to $1.8 million in Q1 2020.
  • Total operating expenses were $7.5 million in Q1 2021 compared to $11.6 million in Q1 2020.
  • ENSV suffered a net loss of 2 million, or $0.24 per diluted share in Q1 2021 compared to a net loss of $2.8 million, or $0.77 per diluted share, in the same quarter last year.
  • Adjusted EBITDA was negative $940,000 in Q1 2021compared to a negative $503,000 in Q1 2020.

Conclusion

Well, as of this writing, there is no recent news about the company. As we know that demand for oil and gas is increasing after the Pandemic is getting weaker so it might be the reason behind its gains on Monday. We can see it to further surge in the coming trading sessions.

>> 7 Top Picks for the Post-Pandemic Economy << 

About the company

ENSERVCO is a diversified national provider of specialized well-site services to the domestic onshore oil and gas industry.  The company supports drilling, completion, production, and maintenance activities spanning the life of the well in a safe, reliable way. The company has a modern fleet and its customers are mostly based in major basins across the U.S.

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