ProPetro Holding Corp. (PUMP): A Technical View

As of Wednesday close, ProPetro Holding Corp.’s (NYSE:PUMP) stock was down -$1.11, moving down -9.66 percent to $10.38. The average number of shares traded per day over the past five days has been 2,094,940 shares. 1 time new highs have been achieved over the past 5 days, with a -$2.46 fall in that time frame. In the last twenty days, the average volume was 1,564,860, while in the previous 50 days, it was 1,408,240.

Since last month, PUMP stock retreated -13.14%. Shares of the company fell to $10.34 on 06/22/22, the lowest level in the past month. A 52-week high of $16.92 was reached on 04/21/22 after having rallying from a 52-week low of $6.39. Since the beginning of this year, PUMP’s stock price has risen by 28.15% or $2.28, and marked a new high 23 times. However, the stock has declined by -38.67% since its 52-week high.

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ProPetro Holding Corp. (PUMP) last reported insider trading activity 13 days ago on Jun 10. WILSON NEWTON W III, the Gen. Counsel & Corp. SEC. of the company, disposed of 15,791 shares for $13.37 on Jun 10. It resulted in a $211,126 divestment by the insider. GOBE PHILLIP A sold 40,000 shares at an average price of $13.88 on Jun 07. The insider now owns 204,111 shares following the transaction. On Jun 07, Director Armour Spencer D III sold 32,931 shares at $13.95 apiece. The transaction was valued at $459,387.

Valuation Metrics

The stock’s beta is 2.35. Besides these, the trailing price-to-sales (P/S) ratio of 1.20, the price-to-book (PB) ratio of 1.27.

Financial Health

In the three months ended March 30, ProPetro Holding Corp.’s quick ratio stood at 1.40, while its current ratio was 1.50, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 26.10% percent. In the year ended March 30, operating margins totaled -3.40%. Based on annual data, PUMP earned $212.25 million in gross profit and brought in $874.51 million in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -6.60%. Return on equity (ROE) for the past 12 months was -2.60%.

According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. PUMP’s revenue rose 42.88% to $246.07 million during the quarter, while net income inched up to $282.68 million. While analysts expected ProPetro Holding Corp. to report $0.06 quarterly earnings, the actual figure was $0.11 per share, beating the consensus estimate by 83.30%. During the quarter, the company generated $37.72 million in EBITDA. The liabilities of ProPetro Holding Corp. were 237.24 million at the end of its most recent quarter ended March 30, and its total debt was $0.47 million. The value of shareholders’ equity is $104.24 million.

Technical Picture

This quick technical analysis looks at ProPetro Holding Corp.’s (PUMP) price momentum. With a historical volatility rate of 60.48%, the RSI 9-day stood at 23.19% on 22 June.

With respect to its five-day moving average, the current ProPetro Holding Corp. price is down by -19.16% percent or -$2.46. At present, PUMP shares trade -16.49% below its 20-day simple moving average and -1.14% percent below its 100-day simple moving average. However, the stock is currently trading approximately -30.10% below its SMA50 and +33.94% above its SMA200.

Stochastic coefficient K was 6.54% and Stochastic coefficient D was 6.38%, while ATR was 0.81. Given the Stochastic reading of 1.00% for the 14-day period, the RSI (14) reading has been calculated as 28.89%. As of today, the MACD Oscillator reading stands at -1.31, while the 14-day reading stands at -1.83.

Analyst Ratings

ProPetro Holding Corp. downgraded its rating on ProPetro Holding Corp. (NYSE: PUMP) to an Underweight in a note to investors on May 26, 2022. The analysts firm previously had an Overweight rating on the stock.ProPetro Holding Corp. (PUMP) has been rated Overweight by analysts. According to 1 brokerage firm, PUMP is a sell, and 4 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 2 analysts rate ProPetro Holding Corp. stock as buy, with 4 recommending it as overweight.

With a median target price of $17.00, the current consensus forecast for the stock is $13.00 – $21.00. Based on these forecasts, analysts predict ProPetro Holding Corp. (PUMP) will achieve an average price target of $17.11.


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