Asante Solutions Inc (NASDAQ:PUMP) has been given an average rating of "Hold" by the seventeen brokerages that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $8.13.
A number of equities analysts have weighed in on PUMP shares. Piper Sandler boosted their target price on shares of Asante Solutions from $3.75 to $4.00 and gave the stock a "neutral" rating in a research note on Thursday, May 28th. Cowen raised shares of Asante Solutions from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $7.50 to $8.50 in a research note on Wednesday, July 15th. They noted that the move was a valuation call. BidaskClub downgraded shares of Asante Solutions from a "sell" rating to a "strong sell" rating in a research note on Tuesday. Raymond James boosted their price target on shares of Asante Solutions from $5.00 to $6.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 3rd. Finally, B. Riley dropped their price target on shares of Asante Solutions from $5.50 to $7.25 in a research note on Wednesday, June 3rd.
Asante Solutions stock traded up $0.26 during midday trading on Wednesday, reaching $5.16. The stock had a trading volume of 101,500 shares, compared to its average volume of 2,014,939. The firm's fifty day simple moving average is $5.92 and its two-hundred day simple moving average is $5.00. Asante Solutions has a twelve month low of $1.36 and a twelve month high of $12.11.
Asante Solutions (NASDAQ:PUMP) last issued its earnings results on Tuesday, August 4th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.06). The business had revenue of $106.11 million for the quarter, compared to the consensus estimate of $109.85 million. The firm's revenue for the quarter was down 80.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.35 earnings per share.
In other news, Director Mark Stephen Berg purchased 12,274 shares of the business's stock in a transaction on Monday, August 24th. The stock was purchased at an average price of $6.11 per share, for a total transaction of $74,994.14. Following the completion of the purchase, the director now directly owns 12,274 shares in the company, valued at approximately $74,994.14. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Several institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of Asante Solutions by 8.9% in the 1st quarter. Geode Capital Management LLC now owns 1,134,934 shares of the company's stock worth $2,837,000 after buying an additional 93,131 shares during the last quarter. AJO LP purchased a new stake in shares of Asante Solutions during the second quarter valued at approximately $2,301,000. Russell Investments Group Ltd. boosted its stake in shares of Asante Solutions by 13.5% during the second quarter. Russell Investments Group Ltd. now owns 378,923 shares of the company's stock valued at $1,945,000 after purchasing an additional 45,207 shares during the period. Viking Fund Management LLC boosted its stake in shares of Asante Solutions by 230.0% during the second quarter. Viking Fund Management LLC now owns 330,000 shares of the company's stock valued at $1,696,000 after purchasing an additional 230,000 shares during the period. Finally, Carmignac Gestion lifted its stake in Asante Solutions by 13.7% in the first quarter. Carmignac Gestion now owns 299,283 shares of the company's stock worth $748,000 after acquiring an additional 36,160 shares during the period.
Asante Solutions Company Profile
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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5 Travel Company Stocks Likely to Suffer From the Coronavirus
How important is the global travel and tourism industry? It’s a sector that accounts for about 10% of the world’s adult workforce. That’s 350 million people. The industry also accounts for at least 4% of the global gross domestic product (GDP).
In short, it’s an industry that accounts for trillions of dollars for the economy. And it relies on the most visible workers like pilots and cruise ship captains to the kitchen and housecleaning staff and servers. The travel industry is in many ways a service industry. But when there’s nobody to service, these businesses take a tumble.
And tumble it has. The world is going through a period of enforced social distancing. Many countries are taking even more extreme measures to lock down parts, or all, of their countries in an effort to contain the spread of the coronavirus and to flatten the curve to prevent healthcare workers and hospitals from being overwhelmed.
But that means fewer people are flying. Planned vacations are being canceled. And all of this is bad news for a sector that relies on the mobility of global travelers.
To be fair, the best of these companies should recover just fine. However, some of these companies had fundamental concerns that will be magnified by the loss of revenue.
View the "5 Travel Company Stocks Likely to Suffer From the Coronavirus".