ProPetro Holding Corp. (NYSE:PUMP) Short Interest Down 20.2% in March

ProPetro Holding Corp. (NYSE:PUMP) saw a significant decrease in short interest in March. As of March 15th, there was short interest totalling 9,190,000 shares, a decrease of 20.2% from the February 28th total of 11,510,000 shares. Based on an average daily trading volume, of 1,830,000 shares, the days-to-cover ratio is currently 5.0 days. Currently, 11.7% of the company’s shares are sold short.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PUMP shares. JPMorgan Chase & Co. upgraded shares of ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price target on the stock in a report on Friday, December 6th. Citigroup boosted their target price on shares of ProPetro from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Benchmark reaffirmed a “hold” rating on shares of ProPetro in a research report on Thursday, February 20th. Barclays dropped their price target on ProPetro from $12.00 to $11.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Finally, Stifel Nicolaus lifted their target price on ProPetro from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $10.75.

Institutional Investors Weigh In On ProPetro

Large investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its stake in ProPetro by 205.0% in the fourth 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 lifted its stake in shares of ProPetro by 38.0% in the 4th quarter. GAMMA Investing LLC now owns 4,446 shares of the company’s stock valued at $41,000 after purchasing an additional 1,225 shares during the last quarter. KBC Group NV boosted its holdings in ProPetro by 90.5% in the fourth quarter. KBC Group NV now owns 8,045 shares of the company’s stock worth $75,000 after purchasing an additional 3,821 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in ProPetro during the third quarter worth $77,000. Finally, Raymond James Financial Inc. bought a new position in ProPetro during the fourth quarter valued at about $94,000. Institutional investors own 84.70% of the company’s stock.

ProPetro Stock Up 2.4 %

Shares of NYSE PUMP traded up $0.18 during mid-day trading on Tuesday, reaching $7.53. The company had a trading volume of 1,148,984 shares, compared to its average volume of 1,543,873. The stock has a market capitalization of $776.35 million, a PE ratio of -5.62 and a beta of 2.03. ProPetro has a twelve month low of $6.54 and a twelve month high of $11.17. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.14 and a current ratio of 1.31. The stock’s 50 day moving average is $8.36 and its 200-day moving average is $8.45.

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.