ProPetro (NYSE:PUMP) Stock Price Down 3.4% – Time to Sell?

ProPetro Holding Corp. (NYSE:PUMP) was down 3.4% during mid-day trading on Friday . The company traded as low as $10.50 and last traded at $10.33. Approximately 87,593 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 1,369,599 shares. The stock had previously closed at $10.69.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PUMP shares. Barclays dropped their target price on ProPetro from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upgraded ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price objective on the stock in a report on Friday, December 6th. Citigroup lifted 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. Finally, Stifel Nicolaus dropped their price target on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, ProPetro currently has an average rating of “Hold” and an average target price of $10.75.

ProPetro Stock Down 2.9 %

The firm has a 50-day moving average of $9.17 and a two-hundred day moving average of $8.44. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -7.81 and a beta of 2.00. The company has a current ratio of 1.20, a quick ratio of 1.14 and a debt-to-equity ratio of 0.05.

Insider Buying and Selling at ProPetro

In other ProPetro news, CFO David Scott Schorlemer bought 4,500 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average price of $6.86 per share, with a total value of $30,870.00. Following the completion of the purchase, the chief financial officer now directly owns 112,992 shares in the company, valued at $775,125.12. The trade was a 4.15 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PUMP. GAMMA Investing LLC grew 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 during the period. Quarry LP acquired a new position in ProPetro in the second quarter valued at about $40,000. nVerses Capital LLC boosted its stake in ProPetro by 226.3% during the 3rd quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock worth $47,000 after acquiring an additional 4,300 shares during the last quarter. CWM LLC increased its position in shares of ProPetro by 17.2% in the 3rd quarter. CWM LLC now owns 8,624 shares of the company’s stock valued at $66,000 after buying an additional 1,267 shares in the last quarter. Finally, KBC Group NV raised its stake in 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 buying an additional 3,821 shares during the period. Institutional investors own 84.70% of the company’s stock.

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.