ProPetro (NYSE:PUMP) Shares Gap Down – Here’s What Happened

ProPetro Holding Corp. (NYSE:PUMP)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $17.89, but opened at $17.23. ProPetro shares last traded at $17.22, with a volume of 2,922,000 shares.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Barclays raised ProPetro from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $14.00 to $23.00 in a research note on Thursday, May 7th. Bank of America assumed coverage on ProPetro in a research note on Monday, March 30th. They issued a “buy” rating and a $18.00 target price on the stock. Weiss Ratings cut ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Piper Sandler raised their target price on ProPetro from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, The Goldman Sachs Group assumed coverage on ProPetro in a research note on Friday, April 10th. They issued a “neutral” rating and a $15.00 target price on the stock. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.50.

ProPetro Price Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.64 and a quick ratio of 1.57. The firm has a market cap of $2.11 billion, a PE ratio of -156.45 and a beta of 0.75. The firm has a 50-day simple moving average of $15.09 and a 200 day simple moving average of $12.13.

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

Institutional Investors Weigh In On ProPetro

Hedge funds have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd purchased a new stake in shares of ProPetro in the fourth quarter worth $56,000. Trek Financial LLC purchased a new position in shares of ProPetro in the 3rd quarter worth about $57,000. Dark Forest Capital Management LP purchased a new position in shares of ProPetro in the 3rd quarter worth about $57,000. MQS Management LLC bought a new position in ProPetro in the 3rd quarter worth about $58,000. Finally, Raymond James Financial Inc. bought a new position in ProPetro in the 2nd quarter worth about $60,000. Institutional investors own 84.70% of the company’s stock.

ProPetro Company Profile

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.