ProPetro Holding Corp. [PUMP] stock Downgrade by JP Morgan analyst, price target now $14

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ProPetro Holding Corp. [NYSE: PUMP] stock went on a downward path that fall over -3.37% on Tuesday, amounting to a one-week price increase of more than 0.93%. The company report on August 2, 2022 that ProPetro Reports Financial Results for the Second Quarter of 2022.


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ProPetro Holding Corp. (“ProPetro” or “the Company”) (NYSE: PUMP) today announced financial and operational results for the second quarter of 2022.

Over the last 12 months, PUMP stock rose by 28.63%. The one-year ProPetro Holding Corp. stock forecast points to a potential upside of 42.44. The average equity rating for PUMP stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $995.09 million, with 103.68 million shares outstanding and 86.56 million shares in the current float. Compared to the average trading volume of 1.42M shares, PUMP stock reached a trading volume of 4693845 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on ProPetro Holding Corp. [PUMP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PUMP shares is $16.94 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PUMP stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for ProPetro Holding Corp. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on May 26, 2022. The new note on the price target was released on May 05, 2022, representing the official price target for ProPetro Holding Corp. stock. On December 15, 2020, analysts increased their price target for PUMP shares from 6 to 9.

The Average True Range (ATR) for ProPetro Holding Corp. is set at 0.62, with the Price to Sales ratio for PUMP stock in the period of the last 12 months amounting to 1.00. The Price to Book ratio for the last quarter was 1.19, with the Price to Cash per share for the same quarter was set at 0.69.

PUMP Stock Performance Analysis:

ProPetro Holding Corp. [PUMP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.93. With this latest performance, PUMP shares dropped by -3.08% in over the last four-week period, additionally sinking by -7.23% over the last 6 months – not to mention a rise of 28.63% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PUMP stock in for the last two-week period is set at 47.56, with the RSI for the last a single of trading hit 49.76, and the three-weeks RSI is set at 45.62 for ProPetro Holding Corp. [PUMP]. The present Moving Average for the last 50 days of trading for this stock 10.94, while it was recorded at 10.18 for the last single week of trading, and 11.23 for the last 200 days.

Insight into ProPetro Holding Corp. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and ProPetro Holding Corp. [PUMP] shares currently have an operating margin of -0.46 and a Gross Margin at +9.02. ProPetro Holding Corp.’s Net Margin is presently recorded at -6.20.

Return on Equity for this stock declined to -6.39, with Return on Assets sitting at -5.13.

ProPetro Holding Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.50.

PUMP Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PUMP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for ProPetro Holding Corp. go to -10.90%.

ProPetro Holding Corp. [PUMP] Insider Position Details

There are presently around $839 million, or 85.50% of PUMP stock, in the hands of institutional investors. The top three institutional holders of PUMP stocks are: BLACKROCK INC. with ownership of 15,882,120, which is approximately -4.635% of the company’s market cap and around 0.60% of the total institutional ownership; VANGUARD GROUP INC, holding 9,682,636 shares of the stock with an approximate value of $94.41 million in PUMP stocks shares; and THRC MANAGEMENT, LLC, currently with $61.46 million in PUMP stock with ownership of nearly -29.813% of the company’s market capitalization.

Positions in ProPetro Holding Corp. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 115 institutional holders increased their position in ProPetro Holding Corp. [NYSE:PUMP] by around 11,805,103 shares. Additionally, 85 investors decreased positions by around 11,070,872 shares, while 33 investors held positions by with 63,204,083 shares. The mentioned changes placed institutional holdings at 86,080,058 shares, according to the latest SEC report filing. PUMP stock had 42 new institutional investments in for a total of 3,768,064 shares, while 17 institutional investors sold positions of 1,063,088 shares during the same period.

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