ProPetro (NYSE:PUMP) Trading Down 4.7% - Should You Sell?

ProPetro Holding Corp. (NYSE:PUMP - Get Free Report) shares fell 4.7% during trading on Monday . The company traded as low as $6.25 and last traded at $6.23. 528,579 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 1,580,065 shares. The stock had previously closed at $6.54.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PUMP. Stifel Nicolaus set a $10.00 price objective on shares of ProPetro and gave the company a "buy" rating in a research report on Wednesday. JPMorgan Chase & Co. decreased their price objective on shares of ProPetro from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Finally, Piper Sandler began coverage on shares of ProPetro in a research report on Monday. They issued a "neutral" rating and a $7.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $9.00.

ProPetro Trading Up 1.2%

The business's 50 day moving average price is $6.02 and its 200-day moving average price is $7.16. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 0.05. The company has a market cap of $602.37 million, a price-to-earnings ratio of -4.05 and a beta of 1.18.

ProPetro (NYSE:PUMP - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.03. The company had revenue of $359.42 million during the quarter, compared to analysts' expectations of $344.36 million. ProPetro had a negative net margin of 10.60% and a positive return on equity of 2.16%. ProPetro's quarterly revenue was down 11.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 EPS. On average, equities analysts anticipate that ProPetro Holding Corp. will post 0.25 EPS for the current fiscal year.

Institutional Trading of ProPetro

Hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new stake in ProPetro in the 1st quarter worth about $25,000. Headlands Technologies LLC bought a new stake in ProPetro during the 1st quarter worth approximately $32,000. State of Wyoming bought a new stake in ProPetro during the 1st quarter worth approximately $48,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of ProPetro in the 2nd quarter worth approximately $74,000. Finally, Aigen Investment Management LP acquired a new position in shares of ProPetro in the 1st quarter worth approximately $80,000. 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.