ProPetro (NYSE:PUMP) Shares Gap Down – Time to Sell?

ProPetro Holding Corp. (NYSE:PUMP)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $14.59, but opened at $13.90. ProPetro shares last traded at $14.6330, with a volume of 231,797 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barclays boosted their price objective on shares of ProPetro from $11.00 to $12.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 25th. JPMorgan Chase & Co. upgraded ProPetro from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $7.00 to $13.00 in a report on Wednesday, December 10th. Wolfe Research raised shares of ProPetro to a “buy” rating and set a $13.00 price objective on the stock in a research note on Wednesday, December 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of ProPetro in a research report on Monday, December 29th. Finally, Piper Sandler raised their price objective on ProPetro from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $12.83.

ProPetro Price Performance

The firm’s fifty day simple moving average is $11.84 and its 200-day simple moving average is $9.35. The company has a quick ratio of 1.24, a current ratio of 1.29 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $1.74 billion, a PE ratio of 1,428.50 and a beta of 0.70.

ProPetro (NYSE:PUMP) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.14. The company had revenue of $289.68 million during the quarter, compared to analyst estimates of $279.90 million. ProPetro had a net margin of 0.06% and a return on equity of 0.10%. The firm’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.17) EPS. On average, research analysts forecast that ProPetro Holding Corp. will post 0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ProPetro

Institutional investors and hedge funds have recently made changes to their positions in the business. ProShare Advisors LLC increased its stake in ProPetro by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 14,643 shares of the company’s stock worth $139,000 after buying an additional 944 shares in the last quarter. FourThought Financial Partners LLC lifted its holdings in ProPetro by 3.1% in the 4th quarter. FourThought Financial Partners LLC now owns 60,830 shares of the company’s stock worth $578,000 after purchasing an additional 1,840 shares in the last quarter. Mutual Advisors LLC boosted its stake in ProPetro by 1.2% in the 3rd quarter. Mutual Advisors LLC now owns 164,822 shares of the company’s stock worth $864,000 after purchasing an additional 2,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in ProPetro by 4.5% during 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. Finally, Profund Advisors LLC raised its position in shares of ProPetro by 14.2% during the third quarter. Profund Advisors LLC now owns 18,958 shares of the company’s stock valued at $99,000 after buying an additional 2,355 shares during the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.

About ProPetro

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.