Fir Tree Inc.
recently revealed that they own a 67.3% stake in Eco-Stim Energy Solutions, Inc. (NASDAQ:ESES) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Friday, August 4th. The investor owns 50,025,278 shares of the stock valued at $77,539,181. The filing is available through EDGAR at this hyperlink.
Fir Tree Inc.
provided the following explanation of their ownership:
Warning: file_get_contents(): php_network_getaddresses: getaddrinfo failed: Name or service not known in /home/acctmp/public_html/download.php on line 6
Warning: file_get_contents(https://whalewisdom.com
50,025,278
): failed to open stream: php_network_getaddresses: getaddrinfo failed: Name or service not known in /home/acctmp/public_html/download.php on line 6
Separately, Phoenix Investment Adviser LLC acquired a new stake in shares of Eco-Stim Energy Solutions during the first quarter worth $551,000. 14.39% of the stock is currently owned by institutional investors and hedge funds.
Shares of Eco-Stim Energy Solutions, Inc. (ESES) traded down 0.64% during mid-day trading on Friday, hitting $1.55. The company had a trading volume of 163,784 shares. The firm’s 50 day moving average is $1.33 and its 200-day moving average is $1.21. The firm’s market cap is $23.29 million. Eco-Stim Energy Solutions, Inc. has a 12-month low of $0.66 and a 12-month high of $2.75.
COPYRIGHT VIOLATION NOTICE: This piece of content was published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this piece of content on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright laws. The original version of this piece of content can be accessed at https://stocknewstimes.com/2017/08/04/fir-tree-inc-declares-ownership-of-stake-in-eco-stim-energy-solutions-inc-eses.html.
A number of research firms have commented on ESES. Zacks Investment Research downgraded Eco-Stim Energy Solutions from a “hold” rating to a “sell” rating in a report on Monday, May 29th. Seaport Global Securities reissued a “neutral” rating on shares of Eco-Stim Energy Solutions in a report on Thursday, July 20th. Finally, FBR & Co raised their price target on Eco-Stim Energy Solutions from $2.20 to $2.50 and gave the stock an “outperform” rating in a report on Monday, July 24th.
About Eco-Stim Energy Solutions
Eco-Stim Energy Solutions, Inc is an oilfield services company. The Company provides well stimulation, coiled tubing and field management services to the upstream oil and gas industry. The Company focuses on the active shale and unconventional oil and natural gas basins outside the United States and it has commenced operations in Argentina.
Receive News & Ratings for Eco-Stim Energy Solutions Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eco-Stim Energy Solutions Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
