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Micro-Cap on the Move; Essex Rental Corp. (ESSX)

By Warren Paige

Shares of Essex Rental Corp. (NASDAQ: ESSX), a provider of cranes for a range of construction projects, surged in trading today.

ESSX shares ended the day 17.63% higher at $3.47 on volume of 84,003. The stock touched an intra-day high of $3.50 in trading today.

Essex Rental last month reported its first-quarter financial results. The company’s average monthly crawler crane rental rates rose by $717 to $16,233 for the first quarter ended March 31, 2012.

Utilization of ESSX’s rough terrain fleet was 54.8%. Utilization of the company’s larger tower cranes and elevator lifts improved 10.6% on a sequential basis in the first quarter.

The company’s equipment rentals segment revenue, which account for 76.3% of total revenue, were $18.1 million in the first quarter of 2012, compared to $13.2 million reported for the same period last year.

 

June 29th, 2012 | Tags: | Category: Hot MicroCaps

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.