In a recent transaction, Giorgio R. Saumat, the CEO of Earth Science Tech, Inc. (OTCMKTS:ETST), a company specializing in pharmaceutical preparations, has increased his holdings in the company's stock. On May 6, 2024, Saumat purchased 20,000 shares of common stock at a price of $0.095 per share, totaling an investment of $1,900.
This purchase was made on the open market, as noted in the filing, and reflects the CEO's ongoing commitment to the company. Following this transaction, Saumat now directly owns a significant number of Earth Science Tech shares, with the exact amount following the transaction being 121,238,579 shares. It is important to note that these shares are indirectly owned through AVENVI, LLC., with Saumat having sole dispositive power over the shares.
Investors often look to insider buying as a positive sign that company executives are confident in the firm's future prospects. The CEO's recent acquisition of additional shares could be interpreted as a signal of strong belief in the potential growth and value of Earth Science Tech.
The company, formerly known as Ultimate Novelty Sports Inc., is incorporated in Nevada and has its fiscal year-end on March 31. Earth Science Tech's business operations are conducted out of Miami, Florida, where it also maintains its business address.
This latest filing provides transparency into the actions of Earth Science Tech's insiders, offering investors a glimpse into the moves being made by those who lead the company.
InvestingPro Insights
Earth Science Tech, Inc. (OTCMKTS:ETST) has been a hot topic for investors, with CEO Giorgio R. Saumat's recent purchase of shares signaling potential confidence in the company's trajectory. To provide a deeper understanding of the company's financial health and market position, here are some key metrics and insights from InvestingPro:
The company's market capitalization stands at a modest $27.9 million, reflecting its status in the pharmaceutical preparations sector. Despite a challenging period, as indicated by a 10% drop in price total return over the last week, the company's stock has experienced a remarkable 126.13% one-year price total return. This volatility is further highlighted by a significant revenue growth, boasting an increase of 220377.89% over the last twelve months as of Q3 2024.
An InvestingPro Tip worth noting is that Earth Science Tech is trading at a low P/E ratio relative to near-term earnings growth, which might interest value investors looking for growth potential at a reasonable price. However, the company is also trading at a high Price / Book multiple of 12.93, which could suggest the stock is relatively expensive compared to its book value.
For investors intrigued by these figures, there are additional InvestingPro Tips available that could further inform investment decisions. For instance, Earth Science Tech operates with a moderate level of debt and has been profitable over the last twelve months, which could be promising signs for risk-averse investors. It's also worth noting that the company does not pay a dividend, which might influence the investment strategy for income-focused shareholders.
Interested readers can unlock more insights by visiting InvestingPro and using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are 14 additional InvestingPro Tips available that can provide a comprehensive analysis of Earth Science Tech's financial and market performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.