EzFill Holdings CTO Avishai Vaknin sells $74,862 in company stock By Investing.com

EzFill Holdings Inc (NASDAQ:EZFL) Chief Technology Officer, Avishai Vaknin, has sold a total of $74,862 worth of company stock, according to recent SEC filings. The transactions, which took place over a series of days, saw the CTO selling shares at prices ranging from $3.67 to $4.35.

The sales began on September 9, 2024, when Vaknin sold 1,000 shares at $3.67 each and another 1,000 shares at $3.71. The selling continued at varying prices, with 483 shares disposed of at $3.90, and another set of 1,000 shares sold at the same price of $3.71 on September 10. On the same day, Vaknin sold 1,217 shares at $3.72 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 then concluding with sales of 1,500 shares at $4.08 and 5,000 shares at $4.35. These sales appear to be part of a pre-determined plan as indicated by the footnote in the filing, stating these were “Sold to cover tax liability.”

Following these transactions, Vaknin still holds a substantial number of shares in EzFill Holdings Inc, with post-transaction ownership disclosed as 81,033 shares. Investors often monitor insider sales as they may provide insights into an executive’s perspective on the company’s current valuation and future prospects.

EzFill Holdings Inc, which operates in the retail automotive fueling 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 the stock’s performance and insider sentiment.

In other recent news, EzFill Holdings Inc. has accomplished several key financial developments. The Miami-based company successfully regained compliance with Nasdaq’s minimum stockholders’ equity rule by employing strategic financial maneuvers such as private placement of Series B Convertible Preferred Stock and converting certain debts into shares. This move has raised EzFill’s stockholder equity above Nasdaq’s minimum requirement.

EzFill has also made significant strides in strengthening its financial position by converting approximately $13.5 million of its debt into equity through agreements with NextNRG Holding Corp and AJB Capital Investments. In addition, NextNRG has invested $1.4 million in EzFill, which is expected to eliminate around $1.2 million in annual interest expenses and increase the company’s cash reserves.

Moreover, EzFill secured a $165,000 promissory note with NextNRG to bolster its working capital, which carries an 8% annual interest rate for the initial nine months, escalating 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’s common stock.

On the earnings front, EzFill announced record-breaking revenues for April, reaching approximately $2.6 million, a 32% increase from the previous year, and reduced its net loss by 69%. These recent developments continue to shape the financial trajectory of EzFill and its relationship with NextNRG and its CEO, Michael Farkas.

InvestingPro Insights

As investors digest the recent insider sales by EzFill Holdings Inc’s (NASDAQ:EZFL) Chief Technology Officer, Avishai Vaknin, it’s worth considering the broader financial context of the company. According to the latest data from InvestingPro, EzFill Holdings Inc has a market capitalization of approximately $22.99 million, illustrating its position within the small-cap market segment. Despite a challenging financial performance over the last 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 a revenue growth of 27.26%.

Investors should note, based on an InvestingPro Tip, that EzFill Holdings Inc is quickly burning through cash, indicating potential liquidity concerns that could impact the company’s operations and growth strategy. Another noteworthy 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 more tips available that can provide a richer understanding of the company’s financial position and market dynamics. These insights could be particularly valuable in light of the insider sales and the company’s recent stock performance, which has seen a strong return of 59.01% over the last month, despite a longer-term decline over the past five years.

For more detailed analysis and to access the full suite of InvestingPro Tips, interested parties can visit https://www.investing.com/pro/EZFL.

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