ProPetro Holding Corp. (NYSE:PUMP) Sees Significant Growth in Short Interest

ProPetro Holding Corp. (NYSE:PUMP) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totaling 11,067,247 shares, an increase of 33.4% from the November 30th total of 8,296,251 shares. Based on an average daily volume of 2,589,511 shares, the short-interest ratio is presently 4.3 days. Currently, 10.8% of the company’s shares are short sold. Currently, 10.8% of the company’s shares are short sold. Based on an average daily volume of 2,589,511 shares, the short-interest ratio is presently 4.3 days.

Insider Activity

In other news, Director Michele Vion sold 6,916 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $10.64, for a total transaction of $73,586.24. Following the transaction, the director owned 45,029 shares of the company’s stock, valued at approximately $479,108.56. This represents a 13.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director G Larry Lawrence sold 27,000 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $10.84, for a total value of $292,680.00. Following the completion of the sale, the director owned 35,831 shares in the company, valued at approximately $388,408.04. The trade was a 42.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of ProPetro

A number of institutional investors have recently modified their holdings of PUMP. Sourcerock Group LLC raised its position in ProPetro by 66.4% during the 2nd quarter. Sourcerock Group LLC now owns 8,408,391 shares of the company’s stock worth $50,198,000 after buying an additional 3,355,848 shares during the last quarter. Philosophy Capital Management LLC raised its holdings in shares of ProPetro by 14.8% during the third quarter. Philosophy Capital Management LLC now owns 4,047,280 shares of the company’s stock worth $21,208,000 after purchasing an additional 520,327 shares during the last quarter. American Century Companies Inc. lifted its position in ProPetro by 5.4% during the third quarter. American Century Companies Inc. now owns 3,748,788 shares of the company’s stock valued at $19,644,000 after purchasing an additional 192,638 shares during the period. VR Advisory Services Ltd boosted its holdings in ProPetro by 213.2% in the third quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company’s stock valued at $19,280,000 after purchasing an additional 2,504,634 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in ProPetro by 209.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,704,145 shares of the company’s stock worth $14,170,000 after purchasing an additional 1,830,399 shares during the period. 84.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PUMP shares. Wolfe Research raised ProPetro to a “buy” rating and set a $13.00 price objective on the stock in a research report on Wednesday, December 10th. Piper Sandler upgraded shares of ProPetro from a “neutral” rating to an “overweight” rating and set a $16.00 price target on the stock in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProPetro in a research note on Monday. Citigroup boosted their price objective on shares of ProPetro from $6.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Finally, Barclays reaffirmed a “neutral” rating on shares of ProPetro in a research report on Wednesday, December 17th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $12.50.

ProPetro Stock Up 3.0%

PUMP stock traded up $0.28 during trading on Tuesday, hitting $9.54. 1,219,069 shares of the company’s stock traded hands, compared to its average volume of 2,138,034. The firm has a market capitalization of $991.45 million, a P/E ratio of -56.08 and a beta of 0.80. ProPetro has a 1 year low of $4.51 and a 1 year high of $11.66. The company has a quick ratio of 1.19, a current ratio of 1.26 and a debt-to-equity ratio of 0.11. The business has a fifty day simple moving average of $9.68 and a two-hundred day simple moving average of $6.94.

ProPetro (NYSE:PUMP) last posted its earnings results on Wednesday, October 29th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.09. ProPetro had a negative return on equity of 0.06% and a negative net margin of 1.31%.The company had revenue of $293.92 million during the quarter, compared to analyst estimates of $266.25 million. During the same quarter in the prior year, the business earned ($1.32) earnings per share. ProPetro’s revenue was down 18.6% on a year-over-year basis. Sell-side analysts anticipate that ProPetro will post 0.25 EPS for the current 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.