Propetro Holding Corp (NYSE:PUMP) Short Interest Up 24.2% in October
Propetro Holding Corp (NYSE:PUMP) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 12,610,000 shares, a growth of 24.2% from the September 30th total of 10,150,000 shares. Approximately 15.2% of the shares of the company are short sold. Based on an average daily volume of 2,380,000 shares, the days-to-cover ratio is presently 5.3 days.
PUMP has been the subject of a number of research reports. Citigroup decreased their target price on Propetro from $10.70 to $10.30 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Cowen downgraded Propetro to a “market perform” rating and decreased their target price for the stock from $17.00 to $11.00 in a report on Thursday, September 12th. Barclays reaffirmed a “buy” rating and set a $17.00 target price on shares of Propetro in a report on Thursday, October 17th. B. Riley decreased their target price on Propetro from $29.00 to $17.00 and set a “buy” rating for the company in a report on Friday, October 18th. Finally, ValuEngine downgraded Propetro from a “hold” rating to a “sell” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. Propetro has an average rating of “Buy” and a consensus price target of $17.86.
NYSE:PUMP traded up $0.40 during trading hours on Thursday, reaching $7.74. The company had a trading volume of 4,852,672 shares, compared to its average volume of 1,675,233. Propetro has a 1-year low of $7.07 and a 1-year high of $25.38. The firm has a market cap of $777.25 million, a PE ratio of 3.87, a price-to-earnings-growth ratio of 0.24 and a beta of 1.83. The business’s 50 day moving average price is $8.48 and its 200-day moving average price is $14.76. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.29 and a quick ratio of 1.27.
ProPetro Holding Corp., an oilfield services company, provides pressure pumping and other related services. The company offers hydraulic fracturing services; and a suite of well completion and production services, including cementing, acidizing, coiled tubing, flowback, surface air drilling, and drilling services.
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