U.S. markets open in 3 hours 38 minutes

Ecoark Holdings, Inc. (ZEST)

Other OTC - Other OTC Delayed Price. Currency in USD
Add to watchlist
3.6100-0.1200 (-3.22%)
At close: 3:57PM EDT
Full screen
Trade prices are not sourced from all markets
Gain actionable insight from technical analysis on financial instruments, to help optimize your trading strategies
Chart Events
Neutralpattern detected
Previous Close3.7300
Open3.6500
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range3.4300 - 3.6900
52 Week Range3.1200 - 22.4000
Volume27,449
Avg. Volume106,896
Market Cap81.118M
Beta (5Y Monthly)2.46
PE Ratio (TTM)N/A
EPS (TTM)-0.6650
Earnings DateNov 06, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
Fair Value
XX.XX
N/A
Research that delivers an independent perspective, consistent methodology and actionable insight
Related Research
View more
  • Ecoark Awarded $115 Million in Lawsuit Against Walmart
    GlobeNewswire

    Ecoark Awarded $115 Million in Lawsuit Against Walmart

    Walmart found liable on three claims in lawsuit filed by Zest Labs Inc. Jury unanimously awards Ecoark Holdings, Inc. $115 million in damages SAN ANTONIO, April 12, 2021 (GLOBE NEWSWIRE) -- Ecoark Holdings, Inc. ("Ecoark" or the “Company”) (OTC: ZEST) announces that on Friday, April 9, 2021, a Little Rock, Arkansas jury awarded Ecoark and its wholly owned subsidiary, Zest Labs Inc. (“Zest”) a total of $115 million in damages in a lawsuit against Bentonville-based Walmart Inc. (“Walmart”) (NYSE: WMT), the world's largest company as measured by annual revenue1. Walmart was found liable on three claims from the original lawsuit filed in August 2018. Specifically, the federal jury found that Walmart misappropriated Zest’s trade secrets, failed to comply with a written contract, and acted willfully and maliciously in misappropriating Zest’s trade secrets. In addition to the $65 million in compensatory damages, the award includes $50 million in punitive damages for Walmart’s willful and malicious conduct. The lawsuit accused Walmart of using and disclosing trade secrets of Zest relating to reducing and fighting the worldwide problem of fresh food loss and waste. One-third of all fresh food is thrown away as waste before consumption. Peter Mehring, CEO of Zest Labs made the following comment after the verdict. “We are grateful that the jury understood and acknowledged the evidence that supported Zest’s claims. This outcome further validates the unique and valuable solutions that Zest Labs built, and underscores the strength of our intellectual property.” The case was Zest Labs, Inc. et. al. v Walmart, Inc. case number 4:18-cv-500-JM, in the United States District Court for the Eastern District of Arkansas, Central Division. Randy May, Chairman and Chief Executive Officer of Ecoark, had the following to say in the Arkansas Times, as originally posted on Saturday, April 10, 2021. “We are happy that we had our day in court and that the jury found that Walmart misappropriated our trade secrets and breached the agreement between the parties. The damages awarded were strongly supported by the evidence. The jury verdict also allows us to file motions seeking attorneys’ fees and costs. We do not believe Walmart has any basis to appeal the verdict and doing so will only confirm that the judgment was proper. Intellectual property is key to America’s modern economy. The jury understood that protecting trade secrets is the right thing to do and critical to future business operations in Arkansas. We plan to file an appeal of some of the Judge’s pre-trial rulings to make sure that Walmart is held fully accountable for its actions. The appeal will allow Ecoark and Zest to seek additional liability and damages findings against Walmart to ensure that innovative businesses are protected from misappropriation of their technologies.” Walmart ordered to pay $115 million for breach of contract, stealing trade secrets - Arkansas Times (arktimes.com) Ecoark and Zest intend to file post-trial motions in the coming weeks to add an award of their attorneys’ fees as the prevailing party in the litigation. Ecoark will provide additional updates on this lawsuit and award in the coming weeks. Ecoark and Zest were represented by Michael Simons, Todd Landis and Fred Williams of Williams Simons & Landis PLLC. Williams Simons & Landis PLLC is an IP litigation boutique headquartered in Austin, Texas with lawyers in Texas, New York, Pennsylvania and Colorado. After decades of litigating complex IP disputes at some of the largest law firms in the country, the founding partners created WSL to provide clients an innovative team of lawyers dedicated to achieving client goals in courtrooms across the country. WSL trial lawyers bring a unique mix of technical expertise and trial experience that produces results like Friday’s verdict. https://www.wsltrial.com/ 1 According to the Fortune Global 500 list in the year 2020. About Ecoark Holdings, Inc. Founded in 2011, Ecoark is a diversified holding company. The company has three wholly owned subsidiaries: Zest Labs, Inc. (“Zest Labs”), Banner Midstream Corp (“Banner Midstream”) and Trend Discovery Holdings (“Trend Discovery”). Zest Labs, offers the Zest FreshTM solution, a breakthrough approach to quality management of fresh food, is specifically designed to help substantially reduce the amount of food loss the U.S. experiences each year. Banner Midstream is engaged in oil and gas exploration, production, and drilling operations on over 30,000 cumulative acres of active mineral leases in Texas, Louisiana, and Mississippi. Banner Midstream also provides transportation and logistics services and procures and finances equipment to oilfield transportation services contractors. Trend Discovery invests in a select number of early-stage startups each year as part of the fund’s Venture Capital strategy; we are open-minded investors with a founder-first mentality. Trend Discovery LP has an audited track record of uncorrelated outperformance of the S&P 500 since inception. ZEST FRESH™ and Zest Labs™ are trademarks of Zest Labs, Inc. Contact: Investor Relations: Marc Silverberg, ICR marc.silverberg@icrinc.com

  • Ecoark to Utilize Excess Natural Gas to Power Cryptocurrency Mining as Part of ESG Strategy
    GlobeNewswire

    Ecoark to Utilize Excess Natural Gas to Power Cryptocurrency Mining as Part of ESG Strategy

    Beta project targets commencement in May 2021 in West TexasSAN ANTONIO, April 01, 2021 (GLOBE NEWSWIRE) -- Ecoark Holdings, Inc. ("Ecoark" or the “Company”) (OTC: ZEST) announces that it expects to begin beta testing an environmentally conscious cryptocurrency mining approach in May 2021 as a part of the Company’s environmental, social, and governance (“ESG”) strategy. Ecoark established a strategic initiatives team in February 2021 to focus on and analyze innovative and valuable ways to deploy capital. This team is led by Brad Hoagland, Chief Financial Officer of Ecoark, and includes senior leaders from across the Company. As its first initiative, the team focused on opportunities related to ESG technologies for hydrocarbon emissions and reductions in energy waste. The Company formulated an approach to pursue regionally constrained energy that is otherwise lost due to a lack of commercial infrastructure to economically process and/or transport the natural gas to market. This approach is expected to drive significant molecule value through the energy intensive process of cryptocurrency mining. Ecoark’s strategy is anticipated to incubate green energy project development and growth by balancing regional power grid demands during times of heightened use, including during the recent Texas winter storm that left millions without power. We expect that Ecoark’s modularized infrastructure approach will allow the Company to become an industry first, “Spot Midstream” company, allowing for the creation of a mobile natural gas market hub anywhere in the world, within weeks of deployment. “By redirecting power back to the grid when green sources of energy production are unable to supply the required load, we alleviate grid pressure and help fill gaps that currently hinder the growth of green energy technologies,” said Brad Hoagland, CFA, the Company’s CFO. “We are extremely excited to be launching our first strategic project focused on improving our sustainability and ESG profile, while enhancing our returns and deploying capital in a highly efficient manner,” continued Mr. Hoagland. “We plan to mine a diversified basket of higher margin, established cryptocurrencies. Our strategy entails reselling cryptocurrency back into the market, as permitted by applicable laws, and redeploying the capital raised towards accretive growth projects within this sector.” Ecoark is currently in discussions with several public midstream companies to relieve pipeline capacity constraints and allow additional third-party molecules to be transported, thereby creating additional revenue synergies. The Company’s approach is unique as it is not targeting individual well head flare gas due to the unpredictability of gas production uptime, personnel requirements to service non-centrally located assets, lack of oversite and control, surface use issues, and gas quality issues. About Ecoark Holdings, Inc. Founded in 2011, Ecoark is a diversified holding company. The company has three wholly owned subsidiaries: Zest Labs, Inc. (“Zest Labs”), Banner Midstream Corp (“Banner Midstream”) and Trend Discovery Holdings (“Trend Discovery”). Zest Labs, offers the Zest Fresh™ solution, a breakthrough approach to quality management of fresh food, is specifically designed to help substantially reduce the amount of food loss the U.S. experiences each year. Banner Midstream is engaged in oil and gas exploration, production, and drilling operations on over 30,000 cumulative acres of active mineral leases in Texas, Louisiana, and Mississippi. Banner Midstream also provides transportation and logistics services and procures and finances equipment to oilfield transportation services contractors. Trend Discovery invests in a select number of early-stage startups each year as part of the fund’s Venture Capital strategy; we are open-minded investors with a founder-first mentality. Trend Discovery LP has an audited track record of uncorrelated outperformance of the S&P 500 since inception. Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s plans to begin beta testing of the new environmentally conscious cryptocurrency mining approach, the expected benefits of using this approach, including increased future returns and future green energy project development and growth, the Company’s expected future role as an industry first, “Spot Midstream” company, the Company’s plans with respect to cryptocurrency mining, future sales of cryptocurrency and expected use of proceeds from such sales. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. These statements are based on management’s current expectations and beliefs, as well as a number of assumptions concerning future events. Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions, and other important factors, many of which are outside management’s control. Important factors that could cause actual results to differ from those in the forward-looking statements include, but are not limited to, the results of beta testing, the impact of the COVID-19 pandemic on our Company and the national and global economy, changes in applicable laws, regulations, or executive and administrative orders, certain cryptocurrencies being deemed securities for regulatory purposes, volatility in cryptocurrency markets, fluctuations in natural gas prices, and the possibility of adverse economic, business, and/or competitive factors. Additional risks and uncertainties are identified and discussed in Ecoark’s filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the fiscal year ended March 31, 2020, as updated and supplemented by the Quarterly Reports on Form 10-Q for the fiscal quarter ended June 30, 2020, as amended, the fiscal quarter ended September 30, 2020, and the fiscal quarter ended December 31, 2020, and the registration statement on Form S-3 filed on October 16, 2020, as amended by Amendment No. 1 filed on December 22, 2020, and Amendment No. 2 filed on December 28, 2020. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Additional factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. ZEST FRESH™ and Zest Labs™ are trademarks of Zest Labs, Inc. Contact: Investor Relations: John Mills ICR 646-277-1254 John.Mills@icrinc.com

  • Ecoark Completes Austin Chalk Oil Well with Initial Production to Exceed 1,000 BOPD
    GlobeNewswire

    Ecoark Completes Austin Chalk Oil Well with Initial Production to Exceed 1,000 BOPD

    Ecoark successfully executes first project within its joint drilling ventureSAN ANTONIO, March 16, 2021 (GLOBE NEWSWIRE) -- Ecoark Holdings, Inc. ("Ecoark" or the “Company”) (OTC: ZEST), is providing the following updates regarding the Company’s joint drilling venture (the “JV”) with BlackBrush Oil & Gas, L.P. (“BlackBrush”) and GeoTerre, LLC (“GeoTerre”). The JV previously announced that it concluded the drilling of the Deshotels 24 No.1-H, a horizontal Austin Chalk well located in Avoyelles Parish, LA. The well has a total vertical section length of 4,046 feet with a lateral length of 3,799 feet positioned in the most prolific interval of the naturally fractured Austin Chalk formation. Once the lateral target was achieved, the JV successfully set a production packer and tubing and began flowing the well through existing facilities as a conventional open hole oil and gas well. On March 11, 2021, the JV began flowback to the well through a temporarily well test setup and immediately realized strong oil and gas production. After 3 days of flowing back through the test setup, the well was turned to the permanent production facility. The well is exhibiting significant downhole pressure, and the Company has recorded initial production test rates as high as 1,000 to 1,250 BOPD. The well is also expected to produce a significant volume of natural gas of good composition, so the JV has already engaged a midstream carrier to connect to an existing gas pipeline near the well site. Ecoark will continue to analyze the initial production of this well and will provide an update in future disclosures of the forecasted timing and rate of future decline. “We are extremely pleased with the initial results of this project and are excited that our expected investment returns greatly exceed our initial estimates,” said Randy May, Chairman and CEO of Ecoark. “This project evidences the significant value associated with our joint drilling venture, and we look forward to partnering on additional projects in the near future.” “We are extremely proud of the collective team for their ongoing efforts in making the JV’s inaugural project a success and achieving production levels of greater than 1,000 BOPD,” said Julia Olguin, Chief Executive Officer of White River Holdings Corp. “We are continuing to monitor the flowback results of this well as we explore future potential projects within the area. Since no fracture stimulation was required with this initial well, we are positioned to add reserves in this play with a well cost 25-30% below our competitors, or approximately $5 million per well.” “Ecoark’s Board of Directors and Executive Team continue to execute on a strategy forged in early 2020 with the acquisition of Banner Midstream and accelerated throughout the last year with significant and well-timed acquisitions of oil wells and mineral leases,” continued Mr. May. “We are encouraged by a recent recovery in oil prices and are advancing to the next phase of our strategic plan focused on maximizing the resources and value of our growing portfolio.” Per the terms of the JV agreement, Ecoark will operate the well through its subsidiary, White River Operating LLC (“WRO”). Furthermore, Ecoark through its subsidiary, White River SPV 3 LLC (“WR3”) will own 90% of the working interests until payout, after which, it will own a 70% working interest with the remaining working interests to be owned by the other JV partners. The JV is also expected to qualify for and receive a state tax credit for directionally drilled wells in the State of Louisiana, where no severance taxes will be incurred and will not be required to be remitted on future production until the initial well investment is recouped. About Ecoark Holdings, Inc. Founded in 2011, Ecoark is a diversified holding company. The company has three wholly owned subsidiaries: Zest Labs, Inc. (“Zest Labs”), Banner Midstream Corp (“Banner Midstream”) and Trend Discovery Holdings (“Trend Discovery”). Zest Labs, offers the Zest FreshTM solution, a breakthrough approach to quality management of fresh food, is specifically designed to help substantially reduce the amount of food loss the U.S. experiences each year. Banner Midstream is engaged in oil and gas exploration, production, and drilling operations on over 30,000 cumulative acres of active mineral leases in Texas, Louisiana, and Mississippi. Banner Midstream also provides transportation and logistics services and procures and finances equipment to oilfield transportation services contractors. Trend Discovery invests in a select number of early-stage startups each year as part of the fund’s Venture Capital strategy; we are open-minded investors with a founder-first mentality. Trend Discovery LP has an audited track record of uncorrelated outperformance of the S&P 500 since inception. Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the expected oil and natural gas production from the Deshotels 24 No.1-H well, the Louisiana state taxes on future production, the investment returns related to the JV, potential additional joint drilling projects with the JV partners, and estimated cost of acquiring reserves. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. These statements are based on management’s current expectations and beliefs, as well as a number of assumptions concerning future events. Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions, and other important factors, many of which are outside management’s control. Important factors that could cause actual results to differ from those in the forward-looking statements include, but are not limited to, future declines in production from the well, economic viability of natural gas production, the risks arising from oil and gas extraction, the impact of the COVID-19 pandemic on our Company and the national and global economy, the ability of the JV to qualify and receive the Louisiana state tax credit for directionally drilled wells, changes in applicable laws, regulations, or executive and administrative orders, fluctuations in oil and gas prices, and the possibility of adverse economic, business, and/or competitive factors. Additional risks and uncertainties are identified and discussed in Ecoark’s filings with the SEC, including the Annual Report on Form 10-K for the fiscal year ended March 31, 2020, as updated and supplemented by the Quarterly Reports on Form 10-Q for the fiscal quarter ended June 30, 2020, as amended, the fiscal quarter ended September 30, 2020, and the fiscal quarter ended December 31, 2020, and the registration statement on Form S-3 filed on October 16, 2020, as amended by Amendment No. 1 filed on December 22, 2020, and Amendment No. 2 filed on December 28, 2020. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Additional factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. ZEST FRESH™ and Zest Labs™ are trademarks of Zest Labs, Inc. Contact: Investor Relations: John MillsICR646-277-1254John.Mills@icrinc.com