ProPetro Holding Corp. (NYSE:PUMP) Sees Significant Growth in Short Interest

ProPetro Holding Corp. (NYSE:PUMP) was the recipient of a large growth in short interest in December. As of December 15th, there was short interest totaling 11,067,247 shares, a growth of 33.4% from the November 30th total of 8,296,251 shares. Approximately 10.8% of the company’s shares are short sold. Based on an average daily volume of 2,589,511 shares, the short-interest ratio is presently 4.3 days. Based on an average daily volume of 2,589,511 shares, the short-interest ratio is presently 4.3 days. Approximately 10.8% of the company’s shares are short sold.

ProPetro Stock Performance

Shares of NYSE PUMP traded up $0.28 during trading on Tuesday, hitting $9.54. The company had a trading volume of 1,219,069 shares, compared to its average volume of 2,138,034. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.19 and a current ratio of 1.26. ProPetro has a 12 month low of $4.51 and a 12 month high of $11.66. The firm has a market capitalization of $991.45 million, a P/E ratio of -56.08 and a beta of 0.80. The stock has a 50 day simple moving average of $9.68 and a 200 day simple moving average of $6.94.

ProPetro (NYSE:PUMP) last announced its quarterly earnings data on Wednesday, October 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $293.92 million during the quarter, compared to analysts’ expectations of $266.25 million. During the same period in the prior year, the company posted ($1.32) earnings per share. The company’s revenue for the quarter was down 18.6% compared to the same quarter last year. As a group, analysts anticipate that ProPetro will post 0.25 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on PUMP. Citigroup increased their price objective on shares of ProPetro from $6.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Zacks Research upgraded shares of ProPetro from a “strong sell” rating to a “hold” rating in a report on Thursday, October 23rd. Wolfe Research upgraded shares of ProPetro to a “buy” rating and set a $13.00 price objective for the company in a report on Wednesday, December 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProPetro in a research report on Monday. Finally, JPMorgan Chase & Co. upgraded ProPetro from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $7.00 to $13.00 in a research note on Wednesday, December 10th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $12.50.

Insider Activity

In related news, Director Michele Vion sold 6,916 shares of ProPetro stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $10.64, for a total transaction of $73,586.24. Following the sale, the director directly owned 45,029 shares in the company, valued at $479,108.56. The trade was a 13.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director G Larry Lawrence sold 27,000 shares of the company’s stock in a transaction 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 completion of the sale, the director directly owned 35,831 shares in the company, valued at approximately $388,408.04. The trade was a 42.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On ProPetro

Large investors have recently made changes to their positions in the company. Hsbc Holdings PLC increased its stake in ProPetro by 3.5% in the 1st quarter. Hsbc Holdings PLC now owns 49,858 shares of the company’s stock worth $371,000 after acquiring an additional 1,675 shares during the last quarter. Trexquant Investment LP purchased a new stake in ProPetro during the 1st quarter valued at $118,000. State of Wyoming bought a new stake in ProPetro in the first quarter worth $48,000. Quarry LP bought a new stake in ProPetro in the first quarter worth $25,000. Finally, Cubist Systematic Strategies LLC purchased a new position in ProPetro during the first quarter worth $3,348,000. 84.70% of the stock is owned by institutional investors.

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.