Exchange Traded Concepts LLC Makes New Investment in ProPetro Holding Corp. (NYSE:PUMP)

Exchange Traded Concepts LLC purchased a new stake in ProPetro Holding Corp. (NYSE:PUMP - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 132,305 shares of the company's stock, valued at approximately $1,013,000. Exchange Traded Concepts LLC owned approximately 0.12% of ProPetro as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the business. Inspire Investing LLC bought a new position in shares of ProPetro during the 3rd quarter worth approximately $411,000. CWM LLC lifted its position in shares of ProPetro by 17.2% during the 3rd quarter. CWM LLC now owns 8,624 shares of the company's stock worth $66,000 after buying an additional 1,267 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of ProPetro by 84.3% during the 3rd quarter. GAMMA Investing LLC now owns 3,221 shares of the company's stock worth $25,000 after buying an additional 1,473 shares in the last quarter. Dana Investment Advisors Inc. bought a new position in shares of ProPetro during the 2nd quarter worth approximately $6,439,000. Finally, Truist Financial Corp lifted its position in shares of ProPetro by 214.9% during the 2nd quarter. Truist Financial Corp now owns 44,037 shares of the company's stock worth $382,000 after buying an additional 30,053 shares in the last quarter. Institutional investors own 84.70% of the company's stock.

ProPetro Stock Performance

ProPetro stock traded down $0.16 during mid-day trading on Thursday, reaching $8.01. The company's stock had a trading volume of 1,111,208 shares, compared to its average volume of 1,467,690. ProPetro Holding Corp. has a 12-month low of $6.74 and a 12-month high of $11.37. The company has a market capitalization of $861.88 million, a P/E ratio of 11.78 and a beta of 2.02. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.11. The firm's fifty day moving average price is $7.98 and its two-hundred day moving average price is $8.51.

ProPetro (NYSE:PUMP - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $361.85 million. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The firm's quarterly revenue was down 17.9% on a year-over-year basis. Sell-side analysts predict that ProPetro Holding Corp. will post 0.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on PUMP. Stifel Nicolaus dropped their target price on shares of ProPetro from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Friday, October 11th. Barclays lowered their price target on shares of ProPetro from $13.00 to $12.00 and set an "overweight" rating on the stock in a report on Wednesday.

Insider Activity

In other news, Director Michele Vion sold 5,000 shares of the business's stock in a transaction on Monday, August 26th. The shares were 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 directly owns 34,006 shares in the company, valued at $280,889.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.88% of the company's stock.

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.