EzFill Holdings CTO Avishai Vaknin sold $74,862 worth of company stock by Investing.com
EzFill Holdings Inc (NASDAQ:EZFL) Chief Technology Officer, Avishai Vaknin, sold a total of $74,862 worth of company stock, according to the most recent SEC filing. The transactions, which took place over a series of days, saw CTO sell shares at prices ranging from $3.67 to $4.35.
The sale began on September 9, 2024, when Vaknin sold 1,000 shares at 3.67 each and another 1,000 shares at 3.71. The sale continued at various prices, 483 shares were sold at $3.90, and another batch of 1,000 shares was sold at the same price of $3.71 on September 10. On the same day, Vaknin sold 1,217 shares at $3.72 and and 1,467 shares at $3.90.
The largest transactions occurred on September 11 and 12, with Vaknin selling 5,000 shares at $4.00, 1,000 shares at $3.77, and ending with the sale of 1,500 shares at $4.08 and 5,000 shares at $4.35. This sale appears to be part of a pre-determined plan as indicated by a footnote in the file, which states that this was “Sold to pay a tax lien.”
After this transaction, Vaknin still owns a large number of shares of EzFill Holdings Inc, the ownership after the transaction was disclosed as 81,033 shares. Investors often monitor insider trading as they may provide information about an executive's view of a company's current valuation and future prospects.
EzFill Holdings Inc, which operates in the automotive gas stations and service stations sector, has its shares publicly traded under the ticker symbol EZFL. These recent insider transactions are now part of the public record and can be used by investors to better understand stock performance and insider sentiment.
In other recent news, EzFill Holdings Inc. made several important financial changes. The Miami-based company also successfully achieved compliance with Nasdaq's minority shareholder equity rule through strategic financing strategies such as a private placement of Series B Convertible Preferred Stock and converting certain debt into equity. The move boosted EzFill's equity over Nasdaq's minimum requirement.
EzFill also made significant strides in strengthening its financial position by converting approximately $13.5 million of its debt to equity through agreements with NextNRG Holding Corp and AJB Capital Investments. In addition, NextNRG invested $1.4 million in EzFill, which is expected to remove approximately $1.2 million in annual interest costs and increase the company's cash reserves.
In addition, EzFill obtained a $165,000 promissory note with NextNRG to bolster its working capital, with an annual interest rate of 8% for the first nine months, rising to 18% thereafter. If EzFill defaults, NextNRG has the option to demand immediate payment of 150% of the outstanding balance or convert the debt into EzFill common stock.
On the revenue side, EzFill announced record revenue in April, reaching nearly $2.6 million, a 32% increase from last year, and reducing its net loss by 69%. This latest development continues to shape EzFill's financial approach and its relationship with NextNRG and its CEO, Michael Farkas.
InvestingPro Insights
As investors digest the recent insider trading of EzFill Holdings Inc's (NASDAQ:EZFL) Chief Technology Officer, Avishai Vaknin, it's worth considering the company's broader financial position. According to the latest data from InvestingPro, EzFill Holdings Inc has a market capitalization of approximately $22.99 million, indicating its position within the small-cap market segment. Despite challenging financial performance over the past twelve months, with a negative P/E ratio of -0.48 and an adjusted P/E ratio for the same period of -2.11, the company has shown resilience with revenue growth of 27.26%.
Investors should note, based on InvestingPro Tip, that EzFill Holdings Inc is quickly burning through cash, indicating potential financial concerns that may impact the company's operations and growth strategies. Another notable InvestingPro Tip highlights that EzFill's stock price often moves in the opposite direction of the market, suggesting a level of volatility that risk-averse investors may need to consider.
For those looking to delve deeper into EzFill's financial health and stock performance, InvestingPro offers additional tips. Currently, there are 11 other tips available that can provide a richer understanding of a company's financial position and market dynamics. This information can be very valuable considering the internal sales and recent stock performance of the company, which has seen a strong return of 59.01% in the past month, despite a long period of decline in the last five years.
For detailed analysis and access to the full range of InvestingPro tips, interested parties can visit
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