ProPetro (NYSE:PUMP) Stock Price Down 7.8% – Time to Sell?

ProPetro Holding Corp. (NYSE:PUMP)’s share price was down 7.8% on Thursday . The stock traded as low as $12.56 and last traded at $12.5350. 1,604,316 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 3,925,460 shares. The stock had previously closed at $13.59.

Analysts Set New Price Targets

PUMP has been the topic of a number of research analyst reports. Bank of America started coverage on ProPetro in a report on Monday, March 30th. They set a “buy” rating and a $18.00 target price on the stock. Citigroup boosted their price target on ProPetro from $16.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. The Goldman Sachs Group restated a “neutral” rating and set a $16.00 price objective on shares of ProPetro in a research note on Wednesday, June 3rd. Odeon Capital Group started coverage on shares of ProPetro in a report on Thursday, May 28th. They issued a “buy” rating for the company. Finally, Piper Sandler lifted their price objective on shares of ProPetro from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.25.

ProPetro Trading Down 8.4%

The company has a quick ratio of 1.57, a current ratio of 1.64 and a debt-to-equity ratio of 0.08. The firm’s 50 day moving average is $14.78 and its two-hundred day moving average is $13.61. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -112.65 and a beta of 0.72.

ProPetro (NYSE:PUMP) last posted its earnings results on Thursday, April 30th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.09. The company had revenue of $270.69 million during the quarter, compared to analyst estimates of $277.49 million. ProPetro had a negative return on equity of 1.43% and a negative net margin of 1.05%.The business’s revenue was down 24.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 earnings per share. Equities analysts anticipate that ProPetro Holding Corp. will post -0.02 EPS for the current year.

Institutional Investors Weigh In On ProPetro

Large investors have recently added to or reduced their stakes in the stock. Tudor Investment Corp ET AL bought a new stake in ProPetro in the third quarter valued at $2,280,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of ProPetro in the 1st quarter worth about $2,045,000. Jefferies Financial Group Inc. acquired a new stake in shares of ProPetro in the 4th quarter worth about $3,085,000. First Eagle Investment Management LLC lifted its position in ProPetro by 7.5% in the 4th quarter. First Eagle Investment Management LLC now owns 487,333 shares of the company’s stock valued at $4,635,000 after purchasing an additional 34,000 shares during the last quarter. Finally, GeoSphere Capital Management LLC acquired a new position in ProPetro during the 4th quarter valued at about $2,853,000. 84.70% of the stock is owned by institutional investors and hedge funds.

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.