ProPetro (NYSE:PUMP) Shares Gap Down - Here's Why

Key Points

• Shares gapped down pre-market from $14.24 to $12.95 and last traded around $13.58 on heavy volume, marking a sharp intraday move against recent averages.
• Analysts are mixed but leaning positive—several firms (Piper Sandler, Bank of America, JPMorgan) have raised ratings/targets while Weiss reissued a sell—resulting in a MarketBeat consensus of "Hold" with an average target near $13.57.
• ProPetro beat the quarter with $0.01 EPS vs. ($0.13) expected and revenue of $289.7M vs. $279.9M expected, but reported razor-thin profitability (net margin 0.06%) and a 9.6% year-over-year revenue decline.

Shares of ProPetro Holding Corp. (NYSE:PUMP - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $14.24, but opened at $12.95. ProPetro shares last traded at $13.5790, with a volume of 820,799 shares.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Piper Sandler lifted their price target on shares of ProPetro from $16.00 to $17.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 14th. Bank of America assumed coverage on shares of ProPetro in a research note on Monday, March 30th. They set a "buy" rating and a $18.00 price target on the stock. Wolfe Research raised shares of ProPetro to a "buy" rating and set a $13.00 price target on the stock in a research note on Wednesday, December 10th. Weiss Ratings reissued a "sell (d-)" rating on shares of ProPetro in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. raised shares of ProPetro from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $7.00 to $13.00 in a research note on Wednesday, December 10th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, ProPetro has a consensus rating of "Hold" and an average target price of $13.57.

ProPetro Price Performance

The company has a quick ratio of 1.24, a current ratio of 1.29 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.66 billion, a P/E ratio of 1,359.00 and a beta of 0.62. The firm's fifty day moving average price is $12.75 and its 200-day moving average price is $10.15.

ProPetro (NYSE:PUMP - Get Free Report) last issued its earnings results on Wednesday, February 18th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.14. ProPetro had a net margin of 0.06% and a return on equity of 0.10%. The firm had revenue of $289.68 million for the quarter, compared to analysts' expectations of $279.90 million. During the same quarter last year, the business earned ($0.17) earnings per share. The business's revenue was down 9.6% on a year-over-year basis. Analysts forecast that ProPetro Holding Corp. will post 0.25 earnings per share for the current year.

Institutional Trading of ProPetro

Several large investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd bought a new stake in ProPetro in the fourth quarter valued at $111,000. Alpine Global Management LLC bought a new stake in ProPetro in the fourth quarter valued at $118,000. Invesco Ltd. boosted its holdings in ProPetro by 23.4% in the fourth quarter. Invesco Ltd. now owns 407,031 shares of the company's stock valued at $3,871,000 after acquiring an additional 77,088 shares in the last quarter. XTX Topco Ltd boosted its holdings in ProPetro by 52.1% in the fourth quarter. XTX Topco Ltd now owns 178,056 shares of the company's stock valued at $1,693,000 after acquiring an additional 60,997 shares in the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in ProPetro in the fourth quarter valued at $1,235,000. Institutional investors own 84.70% of the company's stock.

ProPetro Company Profile

ProPetro Holding Corp is a publicly traded oilfield services company that specializes in hydraulic fracturing and well completion solutions for exploration and production operators. Headquartered in Midland, Texas, the company delivers a comprehensive suite of pressure pumping services designed to optimize reservoir stimulation and enhance hydrocarbon recovery. Its integrated approach encompasses well design, proppant selection, fluid systems and pressure management to support clients' development targets across unconventional plays.

The company's core offerings include high-pressure fracturing, coiled tubing, cementing, acidizing and flowback services, all supported by in-house logistics and digital monitoring tools.

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