GSA Capital Partners LLP Takes 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 position 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 firm purchased 81,990 shares of the company's stock, valued at approximately $603,000. GSA Capital Partners LLP owned 0.08% of ProPetro at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on PUMP shares. JPMorgan Chase & Co. cut their price target on ProPetro from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Piper Sandler started coverage on shares of ProPetro in a report on Monday, July 14th. They set a "neutral" rating and a $7.00 target price on the stock. Finally, Stifel Nicolaus set a $10.00 target price on shares of ProPetro and gave the company a "buy" rating in a research report on Wednesday, July 16th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, ProPetro currently has an average rating of "Hold" and an average price target of $9.00.

ProPetro Trading Down 5.0%

Shares of NYSE PUMP opened at $5.09 on Monday. ProPetro Holding Corp. has a 1-year low of $4.61 and a 1-year high of $11.17. The business has a fifty day moving average price of $6.04 and a 200 day moving average price of $6.76. The stock has a market capitalization of $529.21 million, a P/E ratio of -3.46 and a beta of 1.18. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.42 and a quick ratio of 1.35.

ProPetro (NYSE:PUMP - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported ($0.07) 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 for the quarter, compared to analysts' expectations of $331.26 million. During the same period in the previous year, the company posted ($0.03) earnings per share. The business's quarterly revenue was down 9.2% compared to the same quarter last year. Equities research analysts expect that ProPetro Holding Corp. will post 0.25 EPS for the current fiscal year.

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.

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