MYDA Advisors LLC Takes $3.80 Million Position in ProPetro Holding Corp. $PUMP

MYDA Advisors LLC acquired a new stake in ProPetro Holding Corp. (NYSE:PUMP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 400,000 shares of the company’s stock, valued at approximately $3,804,000. MYDA Advisors LLC owned approximately 0.38% of ProPetro at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Tudor Investment Corp ET AL acquired a new position in ProPetro during the 3rd quarter worth $2,280,000. American Century Companies Inc. grew its stake in ProPetro by 5.4% during the 3rd quarter. American Century Companies Inc. now owns 3,748,788 shares of the company’s stock worth $19,644,000 after purchasing an additional 192,638 shares in the last quarter. Quantbot Technologies LP grew its stake in ProPetro by 50.5% during the 3rd quarter. Quantbot Technologies LP now owns 262,804 shares of the company’s stock worth $1,377,000 after purchasing an additional 88,152 shares in the last quarter. JPMorgan Chase & Co. grew its stake in ProPetro by 103.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,648,055 shares of the company’s stock worth $8,636,000 after purchasing an additional 837,776 shares in the last quarter. Finally, Dana Investment Advisors Inc. grew its stake in ProPetro by 21.9% during the 3rd quarter. Dana Investment Advisors Inc. now owns 932,470 shares of the company’s stock worth $4,886,000 after purchasing an additional 167,509 shares in the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on PUMP shares. Barclays raised ProPetro from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $14.00 to $23.00 in a research note on Thursday, May 7th. Citigroup boosted their target price on ProPetro from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Piper Sandler boosted their target price on ProPetro from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Bank of America started coverage on ProPetro in a research note on Monday, March 30th. They set a “buy” rating and a $18.00 target price for the company. Finally, Odeon Capital Group started coverage on ProPetro in a research note on Thursday, May 28th. They set a “buy” rating for the company. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.63.

ProPetro Trading Down 0.1%

NYSE:PUMP opened at $15.49 on Monday. The stock has a 50-day simple moving average of $15.69 and a 200-day simple moving average of $12.85. The stock has a market cap of $1.90 billion, a P/E ratio of -140.80 and a beta of 0.70. ProPetro Holding Corp. has a 1 year low of $4.51 and a 1 year high of $18.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 1.64.

ProPetro (NYSE:PUMP) last released its quarterly earnings data on Thursday, April 30th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.09. The business had revenue of $270.69 million during the quarter, compared to analysts’ expectations of $277.49 million. ProPetro had a negative return on equity of 1.43% and a negative net margin of 1.05%.The business’s quarterly revenue was down 24.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 EPS. As a group, analysts anticipate that ProPetro Holding Corp. will post -0.08 earnings per share for the current fiscal year.

ProPetro Company Profile

ProPetro Holding Corp is a publicly traded oilfield services company that specializes in hydraulic fracturing and well completion solutions for exploration and production operators. Headquartered in Midland, Texas, the company delivers a comprehensive suite of pressure pumping services designed to optimize reservoir stimulation and enhance hydrocarbon recovery. Its integrated approach encompasses well design, proppant selection, fluid systems and pressure management to support clients’ development targets across unconventional plays.

The company’s core offerings include high-pressure fracturing, coiled tubing, cementing, acidizing and flowback services, all supported by in-house logistics and digital monitoring tools.