ProPetro (NYSE:PUMP) Shares Gap Down – Should You Sell?

ProPetro Holding Corp. (NYSE:PUMP)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $5.63, but opened at $5.24. ProPetro shares last traded at $4.97, with a volume of 136,847 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PUMP. Barclays reduced their price target on ProPetro from $12.00 to $11.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Citigroup upped their price target on ProPetro from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Stifel Nicolaus raised their price objective on shares of ProPetro from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Benchmark reaffirmed a “hold” rating on shares of ProPetro in a report on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.75.

ProPetro Trading Down 14.1 %

The company has a current ratio of 1.31, a quick ratio of 1.14 and a debt-to-equity ratio of 0.06. The stock has a market cap of $499.03 million, a PE ratio of -3.62 and a beta of 1.58. The firm has a fifty day simple moving average of $7.62 and a two-hundred day simple moving average of $8.31.

Institutional Investors Weigh In On ProPetro

Hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC raised its position in shares of ProPetro by 205.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company’s stock valued at $28,000 after buying an additional 2,005 shares in the last quarter. GAMMA Investing LLC raised its position in ProPetro by 38.0% during the fourth quarter. GAMMA Investing LLC now owns 4,446 shares of the company’s stock valued at $41,000 after purchasing an additional 1,225 shares in the last quarter. KBC Group NV lifted its stake in ProPetro by 90.5% during the fourth quarter. KBC Group NV now owns 8,045 shares of the company’s stock worth $75,000 after purchasing an additional 3,821 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of ProPetro in the 4th quarter worth about $94,000. Finally, Tower Research Capital LLC TRC increased its position in shares of ProPetro by 101.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,452 shares of the company’s stock valued at $98,000 after purchasing an additional 5,270 shares during the last quarter. 84.70% of the stock is currently owned by institutional investors.

ProPetro Company Profile

ProPetro Holding Corp. operates as an integrated oilfield services company. The company provides hydraulic fracturing, wireline, cementing, and other complementary oilfield completion services to upstream oil and gas companies in the Permian Basin. ProPetro Holding Corp. was founded in 2007 and is headquartered in Midland, Texas.