ProPetro (NYSE:PUMP) Shares Down 5.8% – Here’s Why

ProPetro Holding Corp. (NYSE:PUMP) was down 5.8% during mid-day trading on Tuesday . The company traded as low as $11.05 and last traded at $10.8890. Approximately 96,473 shares traded hands during trading, a decline of 97% from the average daily volume of 2,915,860 shares. The stock had previously closed at $11.56.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Zacks Research upgraded shares of ProPetro from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 23rd. JPMorgan Chase & Co. upgraded ProPetro from a “neutral” rating to an “overweight” rating and raised their target price for the company from $7.00 to $13.00 in a research note on Wednesday, December 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProPetro in a report on Monday, December 29th. Piper Sandler upped their target price on ProPetro from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Finally, Wolfe Research upgraded shares of ProPetro to a “buy” rating and set a $13.00 price target on the stock in a research report on Wednesday, December 10th. Four research 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. Based on data from MarketBeat.com, ProPetro presently has a consensus rating of “Hold” and an average price target of $12.67.

ProPetro Trading Down 4.4%

The firm has a market capitalization of $1.15 billion, a P/E ratio of -64.94 and a beta of 0.77. The company has a current ratio of 1.26, a quick ratio of 1.19 and a debt-to-equity ratio of 0.11. The company’s fifty day moving average is $10.26 and its 200-day moving average is $7.82.

Hedge Funds Weigh In On ProPetro

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Trek Financial LLC bought a new stake in shares of ProPetro in the 3rd quarter valued at approximately $57,000. Dark Forest Capital Management LP acquired a new position in ProPetro during the third quarter worth $57,000. MQS Management LLC bought a new position in shares of ProPetro during the third quarter valued at $58,000. PharVision Advisers LLC acquired a new stake in shares of ProPetro in the 2nd quarter valued at $60,000. Finally, Raymond James Financial Inc. bought a new stake in shares of ProPetro in the 2nd quarter worth about $60,000. 84.70% of the stock is owned by institutional investors.

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.