GSA Capital Partners LLP Takes $603,000 Position in ProPetro Holding Corp. (NYSE:PUMP)

Key Points

• GSA Capital Partners LLP has acquired a new position in ProPetro Holding Corp., purchasing 81,990 shares valued at approximately $603,000, representing 0.08% of the company's stock.
• ProPetro's shares have recently been rated by analysts with an average rating of "Hold" and a price target of $9.00, with JPMorgan and Piper Sandler setting targets at $7.00.
• The company reported a quarterly loss with an EPS of (0.07), missing expectations, and noted a revenue drop of 9.2% year-over-year.

GSA Capital Partners LLP purchased a new stake in ProPetro Holding Corp. (NYSE:PUMP - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 81,990 shares of the company's stock, valued at approximately $603,000. GSA Capital Partners LLP owned approximately 0.08% of ProPetro at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Sourcerock Group LLC acquired a new position in ProPetro during the fourth quarter valued at approximately $14,079,000. Pacer Advisors Inc. bought a new position in ProPetro during the first quarter worth about $7,401,000. Balyasny Asset Management L.P. bought a new position in ProPetro during the 4th quarter worth $4,934,000. Millennium Management LLC increased its stake in ProPetro by 359.2% during the 4th quarter. Millennium Management LLC now owns 508,817 shares of the company's stock worth $4,747,000 after acquiring an additional 398,021 shares during the period. Finally, Bank of America Corp DE increased its stake in ProPetro by 107.9% during the 4th quarter. Bank of America Corp DE now owns 470,406 shares of the company's stock worth $4,389,000 after acquiring an additional 244,135 shares during the period. Institutional investors and hedge funds own 84.70% of the company's stock.

ProPetro Trading Down 2.8%

NYSE PUMP traded down $0.14 during trading on Thursday, hitting $4.65. The stock had a trading volume of 1,150,311 shares, compared to its average volume of 1,795,487. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.35 and a current ratio of 1.42. The stock has a market capitalization of $482.94 million, a price-to-earnings ratio of -3.18 and a beta of 1.18. ProPetro Holding Corp. has a one year low of $4.61 and a one year high of $11.17. The stock has a 50 day simple moving average of $6.00 and a 200 day simple moving average of $6.70.

ProPetro (NYSE:PUMP - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.10). ProPetro had a negative net margin of 11.10% and a positive return on equity of 1.84%. The firm had revenue of $326.15 million during the quarter, compared to analyst estimates of $331.26 million. During the same period in the previous year, the company earned ($0.03) earnings per share. ProPetro's revenue was down 9.2% on a year-over-year basis. Sell-side analysts predict that ProPetro Holding Corp. will post 0.25 earnings per share for the current year.

Wall Street Analyst Weigh In

PUMP has been the topic of several recent research reports. Piper Sandler began coverage on ProPetro in a report on Monday, July 14th. They set a "neutral" rating and a $7.00 target price on the stock. Stifel Nicolaus set a $10.00 target price on ProPetro and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. lowered their price objective on ProPetro from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $9.00.

ProPetro Company Profile

ProPetro Holding Corp. operates as an integrated oilfield services company. The company provides hydraulic fracturing, wireline, cementing, and other complementary oilfield completion services to upstream oil and gas companies in the Permian Basin. ProPetro Holding Corp. was founded in 2007 and is headquartered in Midland, Texas.