ProPetro (NYSE:PUMP) Trading Up 5.8% – Time to Buy?

ProPetro Holding Corp. (NYSE:PUMP)’s share price shot up 5.8% on Wednesday . The company traded as high as $13.04 and last traded at $13.0110. 234,076 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 4,007,385 shares. The stock had previously closed at $12.30.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PUMP shares. Barclays upgraded ProPetro from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $14.00 to $23.00 in a research report on Thursday, May 7th. Odeon Capital Group started coverage on ProPetro in a report on Thursday, May 28th. They issued a “buy” rating on the stock. Weiss Ratings lowered ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $16.00 price objective on shares of ProPetro in a research report on Wednesday, June 3rd. Finally, Stifel Nicolaus set a $23.00 target price on ProPetro in a research note on Thursday, July 2nd. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.25.

ProPetro Price Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 1.64. The firm has a market capitalization of $1.58 billion, a P/E ratio of -116.79 and a beta of 0.72. The stock’s 50 day simple moving average is $15.55 and its 200 day simple moving average is $13.31.

ProPetro (NYSE:PUMP) last posted its quarterly earnings results on Thursday, April 30th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.09. The firm had revenue of $270.69 million during the quarter, compared to the consensus estimate of $277.49 million. ProPetro had a negative net margin of 1.05% and a negative return on equity of 1.43%. The company’s revenue was down 24.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 earnings per share. As a group, analysts expect that ProPetro Holding Corp. will post -0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ProPetro

A number of institutional investors and hedge funds have recently bought and sold shares of the company. State of Wyoming bought a new position in shares of ProPetro during the 1st quarter worth $83,000. Aster Capital Management DIFC Ltd purchased a new stake in ProPetro in the fourth quarter worth about $56,000. Raymond James Financial Inc. purchased a new stake in ProPetro in the second quarter worth about $60,000. Tower Research Capital LLC TRC lifted its stake in ProPetro by 70.5% in the second quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company’s stock worth $64,000 after acquiring an additional 4,461 shares during the period. Finally, Dark Forest Capital Management LP bought a new position in ProPetro during the 3rd quarter worth about $57,000. 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.