ProPetro (NYSE:PUMP) Trading 7% Higher – What’s Next?

ProPetro Holding Corp. (NYSE:PUMP) shot up 7% during trading on Tuesday . The stock traded as high as $9.97 and last traded at $10.0750. 251,219 shares traded hands during trading, a decline of 85% from the average session volume of 1,704,593 shares. The stock had previously closed at $9.42.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wolfe Research raised ProPetro to a “buy” rating and set a $13.00 price target on the stock in a research report on Wednesday, December 10th. JPMorgan Chase & Co. raised ProPetro from a “neutral” rating to an “overweight” rating and upped their target price for the company from $7.00 to $13.00 in a research report on Wednesday, December 10th. Citigroup raised their price target on ProPetro from $6.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Barclays restated a “neutral” rating on shares of ProPetro in a research note on Wednesday, December 17th. Finally, Piper Sandler raised shares of ProPetro from a “neutral” rating to an “overweight” rating and set a $16.00 price objective for the company in a research report on Monday, November 3rd. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.50.

ProPetro Price Performance

The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -59.94 and a beta of 0.75. The stock’s 50 day moving average price is $9.87 and its two-hundred day moving average price is $7.14. The company has a quick ratio of 1.19, a current ratio of 1.26 and a debt-to-equity ratio of 0.11.

ProPetro (NYSE:PUMP) last announced its quarterly earnings results on Wednesday, October 29th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.09. The company had revenue of $293.92 million for the quarter, compared to the consensus estimate of $266.25 million. ProPetro had a negative return on equity of 0.06% and a negative net margin of 1.31%.The firm’s revenue for the quarter was down 18.6% compared to the same quarter last year. During the same period last year, the firm earned ($1.32) EPS. Equities research analysts forecast that ProPetro Holding Corp. will post 0.25 EPS for the current fiscal year.

Insider Buying and Selling

In other ProPetro news, Director G Larry Lawrence sold 27,000 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $10.84, for a total value 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. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michele Vion sold 6,916 shares of ProPetro stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $10.64, for a total transaction of $73,586.24. Following the transaction, the director directly owned 45,029 shares of the company’s stock, valued at approximately $479,108.56. This trade represents a 13.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On ProPetro

Several institutional investors and hedge funds have recently modified their holdings of PUMP. Trek Financial LLC acquired a new position in ProPetro in the 3rd quarter worth about $57,000. Dark Forest Capital Management LP purchased a new stake in shares of ProPetro in the third quarter valued at approximately $57,000. MQS Management LLC purchased a new stake in shares of ProPetro in the third quarter valued at approximately $58,000. PharVision Advisers LLC acquired a new position in shares of ProPetro during the 2nd quarter worth approximately $60,000. Finally, Raymond James Financial Inc. purchased a new position in shares of ProPetro during the 2nd quarter valued at approximately $60,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.

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.