Thursday, July 7, 2022

Changes at the Top for Ecoark Holdings Inc (OTCMKTS:EARK)

Ecoark Holdings Inc (OTCMKTS:EARK) is a micro-cap name that’s clearly begun to spur some interest among players in the marketplace as shares bounce up off recent lows. EARK closed last week with a sharp rally that erased a month of weakness. The company’s most recent catalyst is its announcement that Weston Geigle has joined the company as its new CEO. In this role, he will focus on growing efficiencies in Pioneer’s current business, as well as developing new business opportunities through both retail product acquisitions and strategic partnerships.

According to the release, Weston has an established record of leadership and success in cultivating strong customer relationships, new business development and sustainable sales growth with major national retailers including Walmart, Sam’s Club, Target, Meijer, Dick’s Sporting Goods, Cabela’s and Bass Pro Shops, among many others. “He is skilled at identifying trigger points within a business and analyzing data and trends to find business opportunities to deliver viable solutions that add value to strategic partners and retailers.”

Ecoark Holdings Inc (OTCMKTS:EARK) bills itself as a growth-oriented company based in the retail and logistics hub of Northwest Arkansas.

EARK’s portfolio of technology solutions increase operational visibility and improve organizational transparency for a wide range of corporate clients. Ecoark’s technologies fight waste in Operations, Logistics, and Supply Chains across the evolving global economy.

The company works to integrate people, processes, and data in order to overcome ingrained operational hurdles and create new revenue streams. Ecoark’s vision is to expose the cycles of waste that reduce efficiency and cost effectiveness across the business landscape.

Ecoark’s strategically acquired subsidiaries have anticipated and responded to key economic factors impacting every business today. Ecoark addresses these vital economic factors through four active subsidiaries, Zest Labs, Eco3d, Pioneer Products, and Magnolia Solar.

According to company materials, “As the initial acquisition in the Ecoark portfolio, Pioneer Products laid the foundation for Ecoark’s commitment to integrated technology and innovative product formulations. Pioneer Products began by creating new consumer products using plastic reclaimed from retailers’ waste streams. The company’s reclaimed 45-gallon garbage can has enjoyed years of consistent shelf placement in 3,600 Walmart stores in the continental U.S. Building on a platform of proven retail success, Pioneer Products now leverages its solidified reputation and strategic network by acting as an account manager for other products and private labels that fit into its brand portfolio.”

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“This leadership change is another positive step for the future of Ecoark as we continue to hold our portfolio management teams accountable for delivering financial results. Weston’s experience working with a broad spectrum of brands – from private label to some of the strongest brands in their respective industries – uniquely qualifies him for the position of CEO at Pioneer Products,” said Jay Puchir, CEO of Ecoark. “He is entrepreneurial minded, customer focused, product driven and brand conscious. We are excited to have him join our team and are looking forward to him growing Pioneer’s business.”

We’ve witnessed 13% added to share values of the stock over the past week of action, but this action is running counter to the larger trend in the name. This is emblematic of the stock. EARK has a track record that includes a number of dramatic bounces. Furthermore, the name has registered increased average transaction volume recently, with the past month seeing 76% over the long run average.

It pays to take note of this fact with the stock trading on a float that is tight at just 30.8M shares. Traders should not overlook this combination, as with such a tight trading float, this kind of ramping interest can force a supply-shock squeeze.

Now commanding a market cap of $176.4M, EARK has a significant war chest ($8.6M) of cash on the books, which is balanced by virtually no total current liabilities. EARK is pulling in trailing 12-month revenues of $14.9M. In addition, the company is seeing major top line growth, with y/y quarterly revenues growing at 25.7%. You can bet we will update this one again as new information comes into view. For continuing coverage on shares of $EARK stock, as well as our other breakout stock picks, sign up for our free newsletter today and get our next hot stock pick!

Disclosure: we hold no position in $EARK, either long or short, and we have not been compensated for this article.

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