ProPetro (NYSE:PUMP) Stock Price Down 4.2% – Here’s Why

ProPetro Holding Corp. (NYSE:PUMP) dropped 4.2% on Wednesday . The company traded as low as $14.21 and last traded at $14.2240. Approximately 816,481 shares traded hands during trading, a decline of 74% from the average daily volume of 3,121,987 shares. The stock had previously closed at $14.85.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PUMP shares. Piper Sandler increased their target price on shares of ProPetro from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. JPMorgan Chase & Co. upgraded shares of ProPetro from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $7.00 to $13.00 in a research report on Wednesday, December 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProPetro in a research note on Monday, December 29th. Wolfe Research upgraded shares of ProPetro to a “buy” rating and set a $13.00 price objective for the company in a report on Wednesday, December 10th. Finally, Barclays raised their price objective on shares of ProPetro from $11.00 to $12.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 25th. 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 stock. According to data from MarketBeat, ProPetro has a consensus rating of “Hold” and an average price target of $12.83.

ProPetro Price Performance

The company has a 50 day moving average of $12.03 and a two-hundred day moving average of $9.49. The firm has a market cap of $1.77 billion, a P/E ratio of 1,452.40 and a beta of 0.70. The company has a quick ratio of 1.24, a current ratio of 1.29 and a debt-to-equity ratio of 0.13.

ProPetro (NYSE:PUMP) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.14. ProPetro had a net margin of 0.06% and a return on equity of 0.10%. The firm had revenue of $289.68 million for the quarter, compared to analysts’ expectations of $279.90 million. During the same period in the previous year, the business earned ($0.17) earnings per share. ProPetro’s revenue for the quarter was down 9.6% compared to the same quarter last year. Sell-side analysts expect that ProPetro Holding Corp. will post 0.25 EPS for the current year.

Institutional Trading of ProPetro

Hedge funds and other institutional investors have recently made changes to their positions in the business. Aster Capital Management DIFC Ltd acquired a new stake in ProPetro during the fourth quarter valued at approximately $56,000. Trek Financial LLC acquired a new position in ProPetro in the third quarter worth approximately $57,000. Dark Forest Capital Management LP acquired a new position in ProPetro in the third quarter worth approximately $57,000. MQS Management LLC bought a new position in shares of ProPetro in the third quarter valued at $58,000. Finally, PharVision Advisers LLC bought a new position in shares of ProPetro in the second quarter valued at $60,000. 84.70% of the stock is currently 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.