Potential Price Increase for ProPetro Holding Corp. (PUMP) After Recent Insider Activity


In a filing, ProPetro Holding Corp. revealed its Director GOBE PHILLIP A unloaded Company’s shares for reported $0.16 million on Sep 12. In the deal valued at $10.50 per share,15,000 shares were sold. As a result of this transaction, GOBE PHILLIP A now holds 188,629 shares worth roughly $ 2.01 million.

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Then, GOBE PHILLIP A sold 20,000 shares, generating $200,200 in total proceeds. Upon selling the shares at $10.01, the Director now owns 203,629 shares.

Before that, Omavuezi Elo sold 5,000 shares. ProPetro Holding Corp. shares valued at $50,250 were divested by the Chief Accounting Officer at a price of $10.05 per share. As a result of the transaction, Omavuezi Elo now holds 1,903 shares, worth roughly $20266.95.

The Benchmark Company upgraded its ProPetro Holding Corp. [PUMP] rating to a Buy from a a Hold in a research note published on Monday.

Price Performance Review of PUMP

On Monday, ProPetro Holding Corp. [NYSE:PUMP] saw its stock jump 1.24% to $10.65. On the same session, the stock had its day’s lowest price of $10.605, but rose to a high of $11.10. Over the last five days, the stock has gained 5.03%. ProPetro Holding Corp. shares have risen nearly 2.70% since the year began. Nevertheless, the stocks have risen 19.26% over the past one year. While a 52-week high of $12.58 was reached on 01/12/23, a 52-week low of $6.33 was recorded on 05/04/23. SMA at 50 days reached $9.95, while 200 days put it at $8.85. A total of 1.97 million shares were traded, compared to the trading of 2.05 million shares in the previous session.

Levels Of Support And Resistance For PUMP Stock

The 24-hour chart illustrates a support level at 10.47, which if violated will result in even more drops to 10.29. On the upside, there is a resistance level at 10.97. A further resistance level may holdings at 11.28. The Relative Strength Index (RSI) on the 14-day chart is 66.94, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.49, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 26.79%. Stochastics %K at 84.57% indicates the stock is a selling.

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

A steep rise in short interest was recorded in ProPetro Holding Corp. stocks on Aug 30, 2023, growing by 0.52 million shares to a total of 4.91 million shares. Yahoo Finance data shows the prior-month short interest on Jul 30, 2023 was 4.39 million shares. There was a rise of 10.59%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 7.80% of the overall stock float, the days-to-cover ratio (short ratio) rose to 5.09.

According to FactSet, ProPetro Holding Corp.’s share price will average $12.60 in the next year, based on opinions of analysts polled by the firm. This is up nearly 18.82 percent from its previous closing price of $10.52. Analysts expect ProPetro Holding Corp. stock to reach the higher price of $16.00, while the lowest price estimate is $10.00. However, 10 analysts have rated PUMP stock as an Overweight in their predictions for 2023.


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