ProPetro Holding Corp. (NYSE:PUMP) Short Interest Update

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ProPetro Holding Corp. (NYSE:PUMP) saw a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 1,410,000 shares, a decline of 17.5% from the March 31st total of 1,710,000 shares. Based on an average daily volume of 1,070,000 shares, the short-interest ratio is currently 1.3 days. Approximately 1.9% of the company’s stock are short sold.

PUMP stock traded down $0.36 during trading hours on Tuesday, hitting $10.36. 742,208 shares of the stock traded hands, compared to its average volume of 1,079,508. The stock has a 50-day simple moving average of $10.43 and a 200 day simple moving average of $8.84. The company has a market cap of $1.06 billion, a P/E ratio of -25.27 and a beta of 3.48. ProPetro has a one year low of $3.58 and a one year high of $13.99.

ProPetro (NYSE:PUMP) last issued its quarterly earnings results on Tuesday, May 4th. The company reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.03). ProPetro had a negative net margin of 3.76% and a negative return on equity of 0.92%. The business had revenue of $161.46 million during the quarter, compared to analyst estimates of $172.67 million. During the same period in the previous year, the company posted ($0.08) earnings per share. ProPetro’s revenue was down 59.1% compared to the same quarter last year. On average, equities research analysts anticipate that ProPetro will post -0.39 earnings per share for the current year.

A number of research firms have issued reports on PUMP. Wolfe Research cut ProPetro from a “peer perform” rating to an “underperform” rating in a research note on Monday, January 11th. Citigroup lifted their price target on ProPetro from $9.00 to $14.00 in a report on Tuesday, March 2nd. B. Riley increased their price objective on ProPetro from $9.50 to $12.50 and gave the stock a “neutral” rating in a report on Thursday, March 4th. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of ProPetro in a research note on Wednesday, January 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. ProPetro has an average rating of “Hold” and an average price target of $8.32.

In other news, insider Samuel D. Sledge sold 19,099 shares of ProPetro stock in a transaction dated Tuesday, March 16th. The shares were sold at an average price of $11.56, for a total value of $220,784.44. Following the completion of the transaction, the insider now directly owns 21,840 shares of the company’s stock, valued at approximately $252,470.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Spencer D. Armour III sold 32,947 shares of the stock in a transaction dated Tuesday, April 6th. The stock was sold at an average price of $10.75, for a total transaction of $354,180.25. Following the sale, the director now owns 55,126 shares in the company, valued at approximately $592,604.50. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of ProPetro by 98.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,520 shares of the company’s stock valued at $112,000 after acquiring an additional 5,222 shares during the last quarter. Sei Investments Co. raised its position in shares of ProPetro by 11.0% during the third quarter. Sei Investments Co. now owns 57,471 shares of the company’s stock worth $233,000 after purchasing an additional 5,699 shares during the period. HighMark Wealth Management LLC purchased a new stake in shares of ProPetro during the fourth quarter valued at $44,000. ProShare Advisors LLC boosted its position in shares of ProPetro by 71.0% in the 4th quarter. ProShare Advisors LLC now owns 19,304 shares of the company’s stock valued at $143,000 after purchasing an additional 8,017 shares during the period. Finally, IndexIQ Advisors LLC increased its stake in ProPetro by 11.5% in the 4th quarter. IndexIQ Advisors LLC now owns 83,778 shares of the company’s stock worth $619,000 after purchasing an additional 8,650 shares in the last quarter. Hedge funds and other institutional investors own 78.51% of the company’s stock.

About ProPetro

ProPetro Holding Corp., an oilfield services company, provides pressure pumping and other related services. The company operates through Pressure Pumping and All Other segments. The company offers hydraulic fracturing, cementing, acidizing, and coiled tubing services. It serves the upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources in the Permian Basin.

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