Yovan Arturo Sanchez, a director at Earth Science Tech, Inc. (OTC:ETST), recently acquired 100,000 shares of the company's common stock. The purchase was executed on October 14, 2024, at a price of $0.14 per share, totaling $14,000. This transaction increased Sanchez's direct ownership to 1,200,000 shares. All transactions were conducted on the open market.
In other recent news, Earth Science Tech, a Florida-based biotechnology company, announced significant developments. The company completed two strategic acquisitions, purchasing Avenvi, LLC, a real estate holding entity, for over $1 million, and Mister Meds, LLC, a Texas-based firm, for $54,200. The acquired assets include undeveloped residential land, a commercial property, and Avenvi's cash holdings.
In addition to these acquisitions, Earth Science Tech launched a new brand named Zoolzy, targeted at the pet and wildlife industry. The company also relocated its principal office to Miami, FL, expanding its administrative space to around 7,125 square feet.
In the same vein, Earth Science Tech repurchased over 11 million shares of its common stock as part of a $5 million repurchase program. The company also disclosed new compensatory arrangements for its top executives. CEO Giorgio R. Saumat and COO Mario G. Tabraue will receive 18% and 12% of the company's monthly cash receipts, respectively, starting October 1, 2024. These are the recent developments within the company.
InvestingPro Insights
The recent insider purchase by Yovan Arturo Sanchez aligns with several positive indicators for Earth Science Tech, Inc. (OTC:ETST). According to InvestingPro data, the company's stock has shown remarkable performance, with a 162.7% price total return over the past six months and a 123.88% return over the last year. This strong momentum suggests growing investor confidence in the company's prospects.
Despite the recent positive trajectory, InvestingPro Tips reveal that the stock has taken a big hit over the last week, with a 1-week price total return of -11.76%. This volatility could explain the timing of Sanchez's purchase, potentially viewing the dip as a buying opportunity.
Earth Science Tech boasts impressive financial metrics, including a revenue of $20.3 million in the last twelve months and a robust gross profit margin of 69.4%. The company's profitability is further underscored by an InvestingPro Tip indicating that it has been profitable over the last twelve months.
For investors seeking a more comprehensive analysis, InvestingPro offers 10 additional tips for Earth Science Tech, providing deeper insights into the company's financial health and market position.
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