MYDA Advisors LLC Buys New Position in ProPetro Holding Corp. $PUMP

MYDA Advisors LLC bought a new stake in ProPetro Holding Corp. (NYSE:PUMP) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 400,000 shares of the company’s stock, valued at approximately $3,804,000.

A number of other large investors have also recently made changes to their positions in PUMP. Sourcerock Group LLC boosted its position in shares of ProPetro by 66.4% in the 2nd quarter. Sourcerock Group LLC now owns 8,408,391 shares of the company’s stock valued at $50,198,000 after purchasing an additional 3,355,848 shares during the period. VR Advisory Services Ltd boosted its position in shares of ProPetro by 213.2% in the 3rd quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company’s stock valued at $19,280,000 after purchasing an additional 2,504,634 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of ProPetro by 209.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,704,145 shares of the company’s stock valued at $14,170,000 after purchasing an additional 1,830,399 shares during the period. Millennium Management LLC boosted its position in shares of ProPetro by 382.7% in the 3rd quarter. Millennium Management LLC now owns 2,215,896 shares of the company’s stock valued at $11,611,000 after purchasing an additional 1,756,812 shares during the period. Finally, Forest Avenue Capital Management LP acquired a new stake in shares of ProPetro in the 4th quarter valued at about $14,560,000. 84.70% of the stock is owned by institutional investors and hedge funds.

ProPetro Price Performance

ProPetro stock opened at $15.49 on Monday. ProPetro Holding Corp. has a 12 month low of $4.51 and a 12 month high of $18.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.64 and a quick ratio of 1.57. The business has a 50 day simple moving average of $15.69 and a 200-day simple moving average of $12.85. The stock has a market capitalization of $1.90 billion, a PE ratio of -140.80 and a beta of 0.70.

ProPetro (NYSE:PUMP) last released its quarterly earnings results on Thursday, April 30th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.09. ProPetro had a negative return on equity of 1.43% and a negative net margin of 1.05%.The business had revenue of $270.69 million during the quarter, compared to analysts’ expectations of $277.49 million. During the same quarter in the prior year, the business earned $0.09 earnings per share. The company’s quarterly revenue was down 24.6% compared to the same quarter last year. Equities analysts predict that ProPetro Holding Corp. will post -0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PUMP shares. Piper Sandler upped their target price on ProPetro from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Citigroup upped their target price on ProPetro from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. The Goldman Sachs Group reissued a “neutral” rating and issued a $16.00 target price on shares of ProPetro in a research report on Wednesday, June 3rd. Barclays raised ProPetro from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $14.00 to $23.00 in a research report on Thursday, May 7th. Finally, Bank of America initiated coverage on ProPetro in a research report on Monday, March 30th. They issued a “buy” rating and a $18.00 target price for the company. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, ProPetro has a consensus rating of “Moderate Buy” and a consensus target price of $16.63.

About ProPetro

ProPetro Holding Corp is a publicly traded oilfield services company that specializes in hydraulic fracturing and well completion solutions for exploration and production operators. Headquartered in Midland, Texas, the company delivers a comprehensive suite of pressure pumping services designed to optimize reservoir stimulation and enhance hydrocarbon recovery. Its integrated approach encompasses well design, proppant selection, fluid systems and pressure management to support clients’ development targets across unconventional plays.

The company’s core offerings include high-pressure fracturing, coiled tubing, cementing, acidizing and flowback services, all supported by in-house logistics and digital monitoring tools.