ProPetro (NYSE:PUMP) Trading 9.8% Higher - What's Next?

ProPetro Holding Corp. (NYSE:PUMP - Get Free Report)'s share price was up 9.8% on Wednesday . The stock traded as high as $6.19 and last traded at $6.23. Approximately 1,140,407 shares changed hands during trading, a decline of 28% from the average daily volume of 1,587,794 shares. The stock had previously closed at $5.67.

Analyst Ratings Changes

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

ProPetro Stock Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 1.44 and a quick ratio of 1.39. The stock's 50 day simple moving average is $6.03 and its two-hundred day simple moving average is $7.00. The stock has a market cap of $627.10 million, a P/E ratio of -4.22 and a beta of 1.18.

ProPetro (NYSE:PUMP - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.03. ProPetro had a negative net margin of 10.60% and a positive return on equity of 2.16%. The firm had revenue of $359.42 million for the quarter, compared to analyst estimates of $344.36 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. The business's revenue was down 11.4% on a year-over-year basis. As a group, research analysts forecast that ProPetro Holding Corp. will post 0.25 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Proficio Capital Partners LLC bought a new stake in shares of ProPetro in the fourth quarter worth $175,000. Raymond James Financial Inc. bought a new stake in shares of ProPetro in the fourth quarter worth $94,000. Corient Private Wealth LLC lifted its position in shares of ProPetro by 8.7% in the fourth quarter. Corient Private Wealth LLC now owns 17,591 shares of the company's stock worth $164,000 after purchasing an additional 1,405 shares in the last quarter. American Century Companies Inc. lifted its position in shares of ProPetro by 8.8% in the fourth quarter. American Century Companies Inc. now owns 3,236,135 shares of the company's stock worth $30,193,000 after purchasing an additional 262,202 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in ProPetro by 31.7% during the fourth quarter. Sei Investments Co. now owns 68,899 shares of the company's stock worth $643,000 after buying an additional 16,600 shares during the last quarter. Institutional investors 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.