As of Wednesday, ProPetro Holding Corp.’s (NYSE:PUMP) stock closed at $10.43, down from $10.56 the previous day. While ProPetro Holding Corp. has underperformed by -1.23%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PUMP rose by 8.20%, with highs and lows ranging from $16.92 to $7.25, whereas the simple moving average fell by -4.33% in the last 200 days.
On January 10, 2023, Barclays Upgraded ProPetro Holding Corp. (NYSE: PUMP) to Overweight. A report published by JP Morgan on May 26, 2022, Downgraded its rating to ‘Underweight’ for PUMP. Citigroup December 15, 2020d its ‘Neutral’ rating to ‘Buy’ for PUMP, as published in its report on December 15, 2020. Cowen’s report from July 15, 2020 suggests a price prediction of $8.50 for PUMP shares, giving the stock a ‘Outperform’ rating. Wolfe Research also rated the stock as ‘Peer Perform’.
Analysis of ProPetro Holding Corp. (PUMP)
Further, the quarter-over-quarter increase in sales is 33.10%, showing a positive trend in the upcoming months.
One of the most important indicators of ProPetro Holding Corp.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -3.80% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.20, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and PUMP is recording 1.20M average volume. On a monthly basis, the volatility of the stock is set at 5.22%, whereas on a weekly basis, it is put at 5.30%, with a gain of 8.31% over the past seven days. Furthermore, long-term investors anticipate a median target price of $15.03, showing growth from the present price of $10.43, which can serve as yet another indication of whether PUMP is worth investing in or should be passed over.
How Do You Analyze ProPetro Holding Corp. Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.20%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 81.10% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in PUMP shares?
The recent increase in stakes in PUMP appears to be a result of several institutional investors and hedge funds increasing their positions. BlackRock Fund Advisors’s position in PUMP has increased by 3.48% in the first quarter. The company now owns 14,768,899 shares of the stock, with a value of $162.16 million, following the purchase of 496,502 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in PUMP during the first quarter, upping its stake by 3.19%. During the last quarter, the company picked up 333,484 additional shares for a total stake of worth $118.36 million, bringing number of shares owned by the company to 10,780,016.
During the first quarter, Dimensional Fund Advisors LP added a 3,511 position in PUMP. SSgA Funds Management, Inc. purchased an additional 0.31 million shares in the last quarter, increasing its holdings by 7.94%, now holding 4.23 million shares worth $46.45 million. At the end of the first quarter, Fidelity Management & Research Co decreased its PUMP holdings by -0.43% and now holds 4.19 million PUMP shares valued at $45.99 million with the lessened 18165.0 shares during the period. PUMP shares are owned by institutional investors to the tune of 81.10% at present.