ProPetro (NYSE:PUMP) Trading Down 14.2% – Should You Sell?

ProPetro Holding Corp. (NYSE:PUMP) dropped 14.2% during trading on Friday . The stock traded as low as $5.45 and last traded at $5.38. Approximately 100,594 shares were traded during trading, a decline of 93% from the average daily volume of 1,542,839 shares. The stock had previously closed at $6.27.

Wall Street Analyst Weigh In

PUMP has been the topic of a number of recent research reports. Citigroup increased their target price on ProPetro from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Benchmark reiterated a “hold” rating on shares of ProPetro in a report on Thursday, February 20th. Stifel Nicolaus increased their price target on ProPetro from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Barclays reduced their target price on shares of ProPetro from $12.00 to $11.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, ProPetro has a consensus rating of “Hold” and an average target price of $10.75.

ProPetro Stock Down 16.2 %

The stock has a 50-day moving average of $8.02 and a 200 day moving average of $8.42. The company has a market capitalization of $542.15 million, a PE ratio of -3.92 and a beta of 1.58. The company has a quick ratio of 1.14, a current ratio of 1.31 and a debt-to-equity ratio of 0.06.

Institutional Investors Weigh In On ProPetro

Several large investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC grew its position in ProPetro by 205.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company’s stock valued at $28,000 after buying an additional 2,005 shares during the period. GAMMA Investing LLC boosted its stake in ProPetro by 38.0% in the fourth quarter. GAMMA Investing LLC now owns 4,446 shares of the company’s stock valued at $41,000 after acquiring an additional 1,225 shares during the last quarter. KBC Group NV grew 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 acquiring an additional 3,821 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of ProPetro during the 3rd quarter worth approximately $77,000. Finally, Raymond James Financial Inc. bought a new stake in shares of ProPetro in the 4th quarter worth approximately $94,000. 84.70% of the stock is 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.