ProPetro (NYSE:PUMP) Sets New 1-Year Low - Here's Why

ProPetro Holding Corp. (NYSE:PUMP - Get Free Report)'s share price hit a new 52-week low during trading on Thursday . The company traded as low as $6.48 and last traded at $6.51, with a volume of 990564 shares. The stock had previously closed at $7.59.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Benchmark reissued a "hold" rating on shares of ProPetro in a research note on Thursday, February 20th. Barclays reduced their price objective on shares of ProPetro from $12.00 to $11.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. Citigroup increased their target price on shares of ProPetro from $8.00 to $10.00 and gave the stock a "neutral" rating in a report on Tuesday, January 7th. Finally, Stifel Nicolaus boosted their price target on shares of ProPetro from $11.00 to $12.00 and gave the company a "buy" rating in a report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $10.75.

ProPetro Stock Performance

The stock has a market cap of $494.70 million, a P/E ratio of -3.58 and a beta of 1.58. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.31 and a quick ratio of 1.14. The stock's 50 day simple moving average is $7.76 and its two-hundred day simple moving average is $8.35.

Hedge Funds Weigh In On ProPetro

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PUMP. Smartleaf Asset Management LLC boosted its position in shares of ProPetro by 205.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company's stock worth $28,000 after buying an additional 2,005 shares during the period. GAMMA Investing LLC boosted its position in ProPetro by 38.0% during the 4th quarter. GAMMA Investing LLC now owns 4,446 shares of the company's stock worth $41,000 after acquiring an additional 1,225 shares during the last quarter. KBC Group NV grew its stake in shares of ProPetro by 90.5% during the 4th quarter. KBC Group NV now owns 8,045 shares of the company's stock worth $75,000 after acquiring an additional 3,821 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of ProPetro in the fourth quarter valued at approximately $94,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of ProPetro by 101.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,452 shares of the company's stock worth $98,000 after purchasing an additional 5,270 shares in the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.

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.