ProPetro (NYSE:PUMP) Shares Down 9% - Here's Why

ProPetro Holding Corp. (NYSE:PUMP - Get Free Report)'s stock price fell 9% during trading on Monday . The company traded as low as $4.90 and last traded at $4.93. 819,849 shares were traded during trading, a decline of 47% from the average session volume of 1,551,839 shares. The stock had previously closed at $5.42.

Analyst Ratings Changes

A number of analysts have weighed in on PUMP shares. Barclays decreased their target price on shares of ProPetro from $12.00 to $11.00 and set an "overweight" rating for the company in a research report on Monday, March 3rd. Stifel Nicolaus raised their price target on shares of ProPetro from $11.00 to $12.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Citigroup upped their price objective on shares of ProPetro from $8.00 to $10.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 7th. Finally, Benchmark restated a "hold" rating on shares of ProPetro in a research note on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $10.75.

ProPetro Trading Up 2.1 %

The firm has a market capitalization of $551.09 million, a P/E ratio of -3.96 and a beta of 1.58. The firm has a fifty day simple moving average of $6.73 and a two-hundred day simple moving average of $8.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.31 and a quick ratio of 1.14.

Hedge Funds Weigh In On ProPetro

Hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its position in shares of ProPetro by 205.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company's stock valued at $28,000 after acquiring an additional 2,005 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of ProPetro by 38.0% in the 4th quarter. GAMMA Investing LLC now owns 4,446 shares of the company's stock worth $41,000 after buying an additional 1,225 shares during the last quarter. KBC Group NV raised its position in shares of ProPetro by 90.5% during the 4th quarter. KBC Group NV now owns 8,045 shares of the company's stock valued at $75,000 after buying an additional 3,821 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of ProPetro during the 4th quarter worth $94,000. Finally, Tower Research Capital LLC TRC grew its position in ProPetro by 101.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,452 shares of the company's stock worth $98,000 after acquiring an additional 5,270 shares in the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

ProPetro Company Profile

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.