Ecoark Holdings, Inc. (ZEST) is a varied holding company. The company offers the Zest Fresh solution, an advanced method to quality management of fresh food, which is developed to reduce the annual food loss worth $161 billion in the US. One of its subsidiaries is also engaged in the exploration, production, and drilling operations of oil and natural gas. It is also one of the biggest providers of transportation and logistics services. Another subsidiary is involved in the cryptocurrency mining business.
The price of ZEST stock in the regular trading on March 8, 2022, with a gain of 17.3% was $3.05. Its price further increased by 27.8% at the last check of the aftermarket trading.
ZEST: Events and Happenings
On March 08, 2022, ZEST reported the successful completion of the drilling operation of an oil project by its subsidiary on its 9,615-acre OGML in Louisiana on March 4. The company led the drilling effort in collaboration with an energy services provider. The finished well was logged on March 5 and had considerable shows in the 3 different sectors in the Frio sand formation. The company is expecting to bring the oil well to production in the approaching weeks.
ZEST: Key Financials
On November 11, 2021, ZEST released its unaudited financial outcomes for the second quarter of 2022 ended September 30, 2021. Some of the main highlights are mentioned below.
Revenue
Revenue in Q2 2022 was $6.1 million as compared to $3.3 million in the same quarter of the previous year. The company gained a significant 86% in its revenue over the year.
EPS
Basic and diluted net loss per share in Q2 2022 was $5.9 million or $0.233 corresponding to the net income of $9.0 million or $0.445 in the same quarter of 2020. The company reported a decline in its earnings YoY.
On September 08, 2021, ZEST updated on the entry into a deal by its subsidiary to secure 12 MW of available electric capacity for its mining operations.
Conclusion
ZEST stock is 80% down and 32% up in the prior year and year-to-date periods respectively. The company’s operations were severely affected during the last year as a result of the pandemic. The current aftermarket session is favoring the company’s stock to boom as an outcome of its recently announced drilling operations completion.