CTO Avishai Vaknin owns EzFill selling $29,180 worth of stock Via Investing.com

In a recent move in EzFill Holdings Inc (NASDAQ:EZFL), the company’s Chief Technology Officer Avishai Vaknin sold a total of $29,180 worth of common stock. The transactions, which took place on two separate dates, involved the sale of shares at prices between $4.10 and $4.12.

The sales took place on September 13 and 16, with Vaknin selling a total of 7,100 shares. On September 13, two separate sales transactions were recorded, each involving 1100 and 1000 shares at a price of $4.10 per share. On September 16, Vaknin sold 2,000 shares at $4.12 each and another 4,000 shares at prices between $4.11 and $4.12.

Following these transactions, Vaknin still owns a substantial number of shares in the company, bringing his ownership to 73,933 common shares. It was noted that the sales were for the purpose of meeting tax obligations as indicated in the remarks section of the file.

Investors often monitor insider sales because they can provide insight into an executive’s perspective on the company’s current valuation and future prospects. However, it is common for executives to sell shares for reasons of personal financial planning, diversification and liquidity.

EzFill Holdings Inc, classified in the Automotive Retail Dealers and Gas Stations industry, incorporated in Delaware and headquartered in Miami, Florida. The company’s business phone is 305-791-1169.

In other recent news, EzFill Holdings Inc. actively made strategic financial moves to strengthen its position. The company converted about $13.5 million of its debt to equity through deals with NextNRG Holding Corp and AJB Capital Investments. In addition, NextNRG invested $1.4 million in EzFill, which is expected to eliminate approximately $1.2 million in annual interest expense and increase the company’s cash reserves.

EzFill also secured a $165,000 promissory note with NextNRG to bolster its working capital. The note carries 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 to convert the debt into EzFill common stock.

Furthermore, EzFill has successfully regained compliance with Nasdaq Listing Rule 5550(b)(1), which requires a minimum shareholders’ equity of $2.5 million. This was accomplished through a series of financial maneuvers, including a private placement of Series B convertible preferred stock and the conversion of certain debt into Series A common stock and preferred stock.

In terms of performance, the company announced record revenue for April, coming in at around $2.6 million, a 32% year-over-year increase and a 69% reduction in net losses. These recent developments continue to shape EzFill’s financial trajectory.

InvestingPro Insights

EzFill Holdings Inc (NASDAQ:EZFL) has navigated a challenging market, reflected in the company’s financials and stock performance. According to real-time data from InvestingPro, the company has a market cap of $23.33 million and has seen significant sales growth over the past twelve months from Q2 2024, with a 27.26% increase in revenue reaching $25.85 million. Despite this growth, the company’s gross profit margin remains low at 6.72%, indicating potential inefficiencies or high costs relative to its sales.

InvestingPro Tips suggests that while analysts anticipate sales growth this year, EzFill is quickly burning through cash and suffering from poor gross profit margins. These factors could influence insider trades, such as the recent sale of shares by the company’s Chief Technology Officer, Avishai Vaknin. The high volatility of the share price and the fact that it often moves in the opposite direction to the market could also contribute to the decision to divest some holdings.

Moreover, the company does not pay a dividend to shareholders, which could affect investment decisions for those looking for regular income from their holdings. For investors considering EzFill as part of their portfolio, it may be useful to explore the 12 additional InvestingPro tips available, which provide deeper insight into the company’s financial health and stock performance.

Recent insider sales, along with InvestingPro’s data and advice, can give investors a more comprehensive picture of EzFill’s financial landscape and the potential risks and opportunities associated with the stock. For more detailed analysis and advice on EZFL, potential investors can visit https://www.investing.com/pro/EZFL.

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