ProPetro Holding Corp. (NYSE:PUMP) Short Interest Update

ProPetro Holding Corp. (NYSE:PUMP) saw a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 1,410,000 shares, a decrease of 17.5% from the March 31st total of 1,710,000 shares. Based on an average trading volume of 1,070,000 shares, the short-interest ratio is presently 1.3 days. Currently, 1.9% of the company’s stock are sold short.

NYSE PUMP traded down $0.36 on Tuesday, hitting $10.36. The company had a trading volume of 742,208 shares, compared to its average volume of 1,079,508. The company has a market capitalization of $1.06 billion, a PE ratio of -25.27 and a beta of 3.48. ProPetro has a 12-month low of $3.58 and a 12-month high of $13.99. The company’s fifty day moving average price is $10.43 and its 200-day moving average price is $8.84.

ProPetro (NYSE:PUMP) last released its quarterly earnings results on Tuesday, May 4th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.03). ProPetro had a negative return on equity of 0.92% and a negative net margin of 3.76%. The company had revenue of $161.46 million for the quarter, compared to analyst estimates of $172.67 million. During the same quarter last year, the company earned ($0.08) EPS. The firm’s revenue for the quarter was down 59.1% on a year-over-year basis. As a group, equities research analysts predict that ProPetro will post -0.39 EPS for the current fiscal year.

In other ProPetro news, Director Spencer D. Armour III sold 32,947 shares of the firm’s stock in a transaction dated Tuesday, April 6th. The stock was sold at an average price of $10.75, for a total value of $354,180.25. Following the completion of the sale, the director now owns 55,126 shares of the company’s stock, valued at $592,604.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Samuel D. Sledge sold 19,099 shares of the business’s stock in a transaction dated Tuesday, March 16th. The stock was sold at an average price of $11.56, for a total value of $220,784.44. Following the sale, the insider now owns 21,840 shares in the company, valued at approximately $252,470.40. The disclosure for this sale can be found here. Corporate insiders own 4.60% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of PUMP. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of ProPetro by 98.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,520 shares of the company’s stock worth $112,000 after buying an additional 5,222 shares in the last quarter. Sei Investments Co. lifted its stake in ProPetro by 11.0% in the 3rd quarter. Sei Investments Co. now owns 57,471 shares of the company’s stock worth $233,000 after purchasing an additional 5,699 shares in the last quarter. HighMark Wealth Management LLC acquired a new position in shares of ProPetro during the 4th quarter worth approximately $44,000. ProShare Advisors LLC grew its position in shares of ProPetro by 71.0% in the fourth quarter. ProShare Advisors LLC now owns 19,304 shares of the company’s stock valued at $143,000 after purchasing an additional 8,017 shares in the last quarter. Finally, IndexIQ Advisors LLC increased its holdings in shares of ProPetro by 11.5% in the fourth quarter. IndexIQ Advisors LLC now owns 83,778 shares of the company’s stock valued at $619,000 after purchasing an additional 8,650 shares during the last quarter. Hedge funds and other institutional investors own 78.51% of the company’s stock.

A number of equities research analysts have recently weighed in on PUMP shares. B. Riley boosted their price objective on shares of ProPetro from $9.50 to $12.50 and gave the company a “neutral” rating in a report on Thursday, March 4th. Wolfe Research lowered ProPetro from a “peer perform” rating to an “underperform” rating in a research report on Monday, January 11th. Stifel Nicolaus restated a “buy” rating on shares of ProPetro in a research note on Wednesday, January 27th. Finally, Citigroup increased their price objective on shares of ProPetro from $9.00 to $14.00 in a research note on Tuesday, March 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. ProPetro presently has a consensus rating of “Hold” and an average price target of $8.32.

ProPetro Company Profile

ProPetro Holding Corp., an oilfield services company, provides pressure pumping and other related services. The company operates through Pressure Pumping and All Other segments. The company offers hydraulic fracturing, cementing, acidizing, and coiled tubing services. It serves the upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources in the Permian Basin.

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