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The Benchmark Company gives a Hold recommendation for ProPetro Holding Corp (PUMP)

ProPetro Holding Corp’s recently made public that its President and COO Munoz Adam unloaded Company’s shares for reported $0.4 million on May 03 ’24. In the deal valued at $9.28 per share,42,573 shares were sold. As a result of this transaction, Munoz Adam now holds 58,134 shares worth roughly $0.58 million.

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Then, Vion Michele sold 14,426 shares, generating $151,184 in total proceeds. Upon selling the shares at $10.48, the Director now owns 25,668 shares.

Before that, GOBE PHILLIP A sold 20,000 shares. ProPetro Holding Corp shares valued at $220,000 were divested by the Director at a price of $11.00 per share. As a result of the transaction, GOBE PHILLIP A now holds 168,629 shares, worth roughly $1.67 million.

The Benchmark Company downgraded its ProPetro Holding Corp [PUMP] rating to a Hold from a a Buy in a research note published recently. A number of analysts have revised their coverage, including The Benchmark Company’s analysts, who increased its forecast for the stock in mid July from “a Hold” to “a Buy”. The Benchmark Company began covering PUMP with “Hold” recommendation on January 19, 2023. Citigroup revised its rating on January 17, 2023. It rated PUMP as “a Neutral” which previously was an “a Buy”.

Price Performance Review of PUMP

On Tuesday, ProPetro Holding Corp [NYSE:PUMP] saw its stock jump 2.59% to $9.90. Over the last five days, the stock has gained 2.38%. ProPetro Holding Corp shares have risen nearly 18.14% since the year began. Nevertheless, the stocks have risen 33.96% over the past one year. While a 52-week high of $11.37 was reached on 05/21/24, a 52-week low of $6.62 was recorded on 03/05/24. SMA at 50 days reached $8.58, while 200 days put it at $8.97. A total of 1.74 million shares were traded, compared to the trading of 1.48 million shares in the previous session.

Levels Of Support And Resistance For PUMP Stock

The 24-hour chart illustrates a support level at 9.69, which if violated will result in even more drops to 9.48. On the upside, there is a resistance level at 10.06. A further resistance level may holdings at 10.23. The Relative Strength Index (RSI) on the 14-day chart is 71.11, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.22, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 10.31%. Stochastics %K at 88.81% indicates the stock is a selling.

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