ProPetro (NYSE:PUMP) Shares Gap Up - Time to Buy?

Shares of ProPetro Holding Corp. (NYSE:PUMP - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $7.54, but opened at $7.91. ProPetro shares last traded at $7.58, with a volume of 69,482 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Barclays decreased their price objective on shares of ProPetro from $13.00 to $12.00 and set an "overweight" rating for the company in a report on Wednesday, October 16th. Stifel Nicolaus lowered their price objective on shares of ProPetro from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Friday, October 11th.

ProPetro Trading Down 4.5 %

The company has a debt-to-equity ratio of 0.05, a current ratio of 1.11 and a quick ratio of 1.04. The firm's fifty day moving average price is $7.87 and its 200-day moving average price is $8.47. The company has a market cap of $749.97 million, a price-to-earnings ratio of 24.03 and a beta of 2.02.

ProPetro (NYSE:PUMP - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.11). ProPetro had a net margin of 2.21% and a return on equity of 3.39%. The business had revenue of $357.00 million for the quarter, compared to the consensus estimate of $361.85 million. During the same period last year, the firm posted $0.34 EPS. The business's quarterly revenue was down 17.9% on a year-over-year basis. On average, equities analysts expect that ProPetro Holding Corp. will post 0.17 EPS for the current fiscal year.

Insider Activity

In related news, Director Michele Vion sold 5,000 shares of the firm's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $8.26, for a total transaction of $41,300.00. Following the completion of the transaction, the director now owns 34,006 shares of the company's stock, valued at $280,889.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.97% of the stock is owned by insiders.

Institutional Trading of ProPetro

A number of large investors have recently added to or reduced their stakes in the business. Stanley Laman Group Ltd. increased its stake in ProPetro by 8.1% in the 3rd quarter. Stanley Laman Group Ltd. now owns 446,234 shares of the company's stock worth $3,418,000 after purchasing an additional 33,482 shares in the last quarter. nVerses Capital LLC boosted its position in shares of ProPetro by 226.3% in the third quarter. nVerses Capital LLC now owns 6,200 shares of the company's stock worth $47,000 after buying an additional 4,300 shares during the period. Creative Planning grew its holdings in shares of ProPetro by 80.0% during the third quarter. Creative Planning now owns 57,238 shares of the company's stock valued at $438,000 after buying an additional 25,445 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in ProPetro during the third quarter valued at $1,013,000. Finally, Inspire Investing LLC purchased a new stake in ProPetro in the 3rd quarter worth about $411,000. 84.70% of the stock is currently owned by institutional investors.

About ProPetro

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.