Checking in on ProPetro Holding Corp. (PUMP) after recent insiders movement

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In a filing, ProPetro Holding Corp. revealed its Director GOBE PHILLIP A unloaded Company’s shares for reported $0.22 million on Oct 06. In the deal valued at $10.00 per share,22,000 shares were sold. As a result of this transaction, GOBE PHILLIP A now holds 182,111 shares worth roughly $ 2.1 million.


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Then, Armour Spencer D III sold 32,931 shares, generating $291,439 in total proceeds. Upon selling the shares at $8.85, the Director now owns 67,899 shares.

Before that, Armour Spencer D III sold 32,931 shares. ProPetro Holding Corp. shares valued at $326,017 were divested by the Director at a price of $9.90 per share. As a result of the transaction, Armour Spencer D III now holds 67,899 shares, worth roughly $0.78 million.

JP Morgan downgraded its ProPetro Holding Corp. [PUMP] rating to an Underweight from a an Overweight in a research note published on Friday, May 26, 2022; the price target was decreased to $14 from $16. PT values the company’s stock at a premium of 17.5 to its Friday closing price. A number of analysts have revised their coverage, including Tudor Pickering Holt & Co.’s analysts, who increased its forecast for the stock in early May from “a Hold” to “a Buy”. Wolfe Research also remained covering PUMP and has decreased its forecast on January 11, 2021 with a “an Underperform” recommendation from previously “Peer perform” rating. Citigroup revised its rating on December 15, 2020. It rated PUMP as “a Buy” which previously was an “a Neutral”.

Price Performance Review of PUMP

On Friday, ProPetro Holding Corp. [NYSE:PUMP] saw its stock jump 1.85% to $11.55. On the same session, the stock had its day’s lowest price of $11.515, but rose to a high of $11.97. Over the last five days, the stock has gained 0.70%. ProPetro Holding Corp. shares have risen nearly 42.59% since the year began. Nevertheless, the stocks have risen 22.35% over the past one year. While a 52-week high of $16.92 was reached on 04/21/22, a 52-week low of $7.25 was recorded on 09/26/22. SMA at 50 days reached $9.55, while 200 days put it at $11.31. A total of 0.86 million shares were traded, compared to the trading of 2.46 million shares in the previous session.

Levels Of Support And Resistance For PUMP Stock

The 24-hour chart illustrates a support level at 11.39, which if violated will result in even more drops to 11.22. On the upside, there is a resistance level at 11.84. A further resistance level may holdings at 12.13. The Relative Strength Index (RSI) on the 14-day chart is 61.29, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.00, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 26.84%. Stochastics %K at 64.67% indicates the stock is a holding.

How much short interest is there in ProPetro Holding Corp.?

A steep rise in short interest was recorded in ProPetro Holding Corp. stocks on Jul 14, 2022, dropping by -1.55 million shares to a total of 4.22 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 5.77 million shares. There was a decline of -36.73%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 6.03% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.66.

ProPetro Holding Corp. [PUMP] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 14,272,397 shares, or roughly 13.68% of the outstanding PUMP shares. In other words, the investor’s shares have risen by 502,274 from its previous 13-F filing of 13770123.0. Additionally, The Vanguard Group, Inc. increased 9.95% of its stake after which the total value it holdings stand at $84,094,583, while Dimensional Fund Advisors LP added 8.75% of its stake to hold $43.8 million in the firm. Over the last quarter, Fidelity Management & Research Co purchased 1,718,775 shares of ProPetro Holding Corp., while SSgA Funds Management, Inc. bought 16,105 shares. At present, Van Eck Associates Corp. is holding 2,685,458 shares valued at $21.62 million. Towle & Co. owned 2,475,180 shares of the company at the time of its most recent 13F filing, worth $19.93 million.

According to FactSet, ProPetro Holding Corp.’s share price will average $14.80 in the next year, based on opinions of analysts polled by the firm. This is up nearly 23.46 percent from its previous closing price of $11.34. Analysts expect ProPetro Holding Corp. stock to reach the higher price of $19.00, while the lowest price estimate is $13.00. However, 10 analysts have rated PUMP stock as an Overweight in their predictions for 2022.

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