ProPetro (NYSE:PUMP) Shares Gap Up to $8.72

ProPetro Holding Corp. (NYSE:PUMP - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $8.72, but opened at $9.25. ProPetro shares last traded at $9.39, with a volume of 975,121 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PUMP. TheStreet lowered shares of ProPetro from a "b-" rating to a "c+" rating in a research report on Monday, January 8th. Benchmark downgraded shares of ProPetro from a "buy" rating to a "hold" rating in a research note on Tuesday, January 16th.

ProPetro Price Performance

The stock's fifty day moving average price is $7.97 and its 200-day moving average price is $8.51. The firm has a market cap of $960.57 million, a PE ratio of 12.07 and a beta of 2.13. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.08 and a current ratio of 1.15.

ProPetro (NYSE:PUMP - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.24). The company had revenue of $347.80 million for the quarter, compared to analyst estimates of $351.50 million. ProPetro had a return on equity of 10.26% and a net margin of 5.25%. The business's revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the company posted $0.31 EPS. As a group, equities analysts forecast that ProPetro Holding Corp. will post 0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On ProPetro

Hedge funds and other institutional investors have recently modified their holdings of the company. Kennedy Capital Management LLC acquired a new position in shares of ProPetro in the 3rd quarter worth $7,492,000. First Dallas Securities Inc. bought a new stake in shares of ProPetro during the 3rd quarter worth $4,933,000. Dimensional Fund Advisors LP grew its position in shares of ProPetro by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,293,490 shares of the company's stock valued at $61,120,000 after purchasing an additional 378,379 shares during the last quarter. Lisanti Capital Growth LLC bought a new position in ProPetro in the 3rd quarter worth approximately $2,853,000. Finally, American Century Companies Inc. raised its position in shares of ProPetro by 13.3% during the third quarter. American Century Companies Inc. now owns 1,387,406 shares of the company's stock valued at $14,748,000 after buying an additional 163,363 shares during the last quarter. Institutional investors and hedge funds own 84.70% of the company's stock.

About ProPetro

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.