ProPetro (NYSE:PUMP) Sees Unusually-High Trading Volume – What’s Next?

Shares of ProPetro Holding Corp. (NYSE:PUMP) saw unusually-strong trading volume on Tuesday . Approximately 4,093,742 shares were traded during mid-day trading, an increase of 99% from the previous session’s volume of 2,061,146 shares.The stock last traded at $10.5450 and had previously closed at $11.12.

Wall Street Analysts Forecast Growth

PUMP has been the subject of a number of analyst reports. Barclays reissued a “neutral” rating on shares of ProPetro in a research report on Wednesday, December 17th. Zacks Research raised ProPetro from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of ProPetro in a research report on Monday, December 29th. Citigroup upped their target price on ProPetro from $6.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Finally, JPMorgan Chase & Co. upgraded ProPetro from a “neutral” rating to an “overweight” rating and increased their price target for the company from $7.00 to $13.00 in a research note on Wednesday, December 10th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, ProPetro has an average rating of “Hold” and an average price target of $12.67.

ProPetro Stock Down 3.4%

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.26 and a quick ratio of 1.19. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -63.23 and a beta of 0.75. The business has a fifty day moving average price of $9.91 and a two-hundred day moving average price of $7.44.

ProPetro (NYSE:PUMP) last released its quarterly earnings data on Wednesday, October 29th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.09. ProPetro had a negative net margin of 1.31% and a negative return on equity of 0.06%. The business had revenue of $293.92 million for the quarter, compared to the consensus estimate of $266.25 million. During the same period in the prior year, the firm earned ($1.32) EPS. The business’s revenue for the quarter was down 18.6% on a year-over-year basis. On average, equities analysts expect that ProPetro Holding Corp. will post 0.25 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Michele Vion sold 6,916 shares of the business’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $10.64, for a total value of $73,586.24. Following the completion of the transaction, the director directly owned 45,029 shares in the company, valued at $479,108.56. The trade was a 13.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director G Larry Lawrence sold 27,000 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $10.84, for a total transaction of $292,680.00. Following the sale, the director owned 35,831 shares in the company, valued at approximately $388,408.04. This represents a 42.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On ProPetro

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

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.