Readystate Asset Management LP Has $5.82 Million Stock Holdings in ProPetro Holding Corp. $PUMP

Readystate Asset Management LP raised its stake in ProPetro Holding Corp. (NYSE:PUMP) by 285.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 405,748 shares of the company’s stock after purchasing an additional 300,535 shares during the period. Readystate Asset Management LP’s holdings in ProPetro were worth $5,818,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. ProShare Advisors LLC raised its holdings in shares of ProPetro by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 14,643 shares of the company’s stock valued at $139,000 after purchasing an additional 944 shares during the period. FourThought Financial Partners LLC grew its stake in shares of ProPetro by 3.1% in the 4th quarter. FourThought Financial Partners LLC now owns 60,830 shares of the company’s stock valued at $578,000 after buying an additional 1,840 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in ProPetro by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,534 shares of the company’s stock valued at $379,000 after buying an additional 2,230 shares in the last quarter. Jane Street Group LLC raised its stake in ProPetro by 1.4% during the 1st quarter. Jane Street Group LLC now owns 224,275 shares of the company’s stock worth $1,648,000 after buying an additional 3,100 shares during the period. Finally, Lazard Asset Management LLC raised its stake in ProPetro by 6.3% during the 1st quarter. Lazard Asset Management LLC now owns 54,637 shares of the company’s stock worth $787,000 after buying an additional 3,219 shares during the period. Institutional investors and hedge funds own 84.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PUMP shares. Barclays cut their price target on ProPetro from $23.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th. Piper Sandler lowered their target price on ProPetro from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Thursday, August 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProPetro in a report on Friday, July 31st. Wall Street Zen downgraded shares of ProPetro from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. Finally, Odeon Capital Group initiated coverage on shares of 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 given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, ProPetro presently has an average rating of “Moderate Buy” and a consensus target price of $16.12.

ProPetro Stock Performance

Shares of PUMP opened at $11.49 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.00 and a current ratio of 4.09. The stock has a 50 day moving average price of $11.95 and a two-hundred day moving average price of $13.74. The firm has a market capitalization of $1.41 billion, a P/E ratio of -104.45 and a beta of 0.77. ProPetro Holding Corp. has a 52 week low of $4.52 and a 52 week high of $18.50.

ProPetro (NYSE:PUMP) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.06). The company had revenue of $305.81 million during the quarter, compared to analysts’ expectations of $304.48 million. ProPetro had a negative return on equity of 1.49% and a negative net margin of 1.15%.The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the company earned ($0.07) earnings per share. Equities analysts forecast that ProPetro Holding Corp. will post -0.09 earnings per share for the current fiscal year.

Insider Buying and Selling at ProPetro

In other news, COO Adam Muñoz sold 70,696 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $11.17, for a total value of $789,674.32. Following the completion of the sale, the chief operating officer owned 148,691 shares in the company, valued at $1,660,878.47. This represents a 32.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director G Lawrence sold 35,831 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $11.16, for a total transaction of $399,873.96. Following the transaction, the director owned 28,181 shares in the company, valued at approximately $314,499.96. This trade represents a 55.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.55% of the stock is currently owned by company insiders.

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.