ProPetro (NYSE:PUMP) Sees Large Volume Increase – Here’s Why

Shares of ProPetro Holding Corp. (NYSE:PUMP) saw unusually-strong trading volume on Monday . Approximately 8,683,411 shares were traded during mid-day trading, an increase of 184% from the previous session’s volume of 3,060,679 shares.The stock last traded at $16.7570 and had previously closed at $16.62.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PUMP shares. Bank of America started coverage on shares of ProPetro in a research note on Monday, March 30th. They issued a “buy” rating and a $18.00 price objective on the stock. The Goldman Sachs Group initiated coverage on shares of ProPetro in a research note on Friday, April 10th. They issued a “neutral” rating and a $15.00 price objective on the stock. Barclays raised their price objective on ProPetro from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 9th. Piper Sandler lifted their price objective on ProPetro from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Finally, Citigroup raised ProPetro from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $12.00 to $16.00 in a research note on Wednesday, April 15th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $14.50.

ProPetro Trading Up 1.3%

The firm has a market cap of $2.07 billion, a price-to-earnings ratio of -153.11 and a beta of 0.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.64 and a quick ratio of 1.57. The firm’s fifty day moving average is $14.06 and its 200-day moving average is $11.35.

ProPetro (NYSE:PUMP) last released its earnings results on Thursday, April 30th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.09. The business had revenue of $270.69 million for the quarter, compared to analyst estimates of $277.49 million. ProPetro had a negative net margin of 1.05% and a negative return on equity of 1.43%. ProPetro’s revenue for the quarter was down 24.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 earnings per share. Equities analysts anticipate that ProPetro Holding Corp. will post -0.13 earnings per share for the current year.

Institutional Investors Weigh In On ProPetro

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd bought a new stake in ProPetro in the fourth quarter valued at $56,000. Raymond James Financial Inc. bought a new stake in ProPetro in the second quarter valued at $60,000. Tower Research Capital LLC TRC increased its stake in ProPetro by 70.5% in the second quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company’s stock valued at $64,000 after purchasing an additional 4,461 shares in the last quarter. Trek Financial LLC bought a new stake in ProPetro in the third quarter valued at $57,000. Finally, Dark Forest Capital Management LP bought a new stake in ProPetro in the third quarter valued at $57,000. 84.70% of the stock is owned by institutional investors.

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.