Manatuck Hill Partners LLC Makes New $5.02 Million Investment in ProPetro Holding Corp. $PUMP

Manatuck Hill Partners LLC purchased a new stake in ProPetro Holding Corp. (NYSE:PUMP) in the second quarter, HoldingsChannel reports. The institutional investor purchased 350,000 shares of the company’s stock, valued at approximately $5,019,000. ProPetro comprises about 1.7% of Manatuck Hill Partners LLC’s investment portfolio, making the stock its 16th biggest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in ProPetro during the second quarter worth about $130,574,000. Valiant Capital Management L.P. acquired a new position in ProPetro during the fourth quarter worth approximately $34,890,000. Sourcerock Group LLC raised its stake in ProPetro by 66.4% in the second quarter. Sourcerock Group LLC now owns 8,408,391 shares of the company’s stock valued at $50,198,000 after buying an additional 3,355,848 shares during the period. Cooper Creek Partners Management LLC bought a new stake in ProPetro in the first quarter valued at approximately $42,748,000. Finally, VR Advisory Services Ltd lifted its position in shares of ProPetro by 213.2% in the third quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company’s stock valued at $19,280,000 after buying an additional 2,504,634 shares during the last quarter. Institutional investors own 84.70% of the company’s stock.

Insiders Place Their Bets

In other ProPetro news, Director G Larry Lawrence sold 35,831 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $11.16, for a total value of $399,873.96. Following the transaction, the director directly owned 28,181 shares of the company’s stock, valued at $314,499.96. This represents a 55.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Adam Munoz sold 70,696 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $11.17, for a total value of $789,674.32. Following the transaction, the chief operating officer owned 148,691 shares in the company, valued at $1,660,878.47. The trade was a 32.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.55% of the company’s stock.

ProPetro Trading Down 1.8%

Shares of NYSE:PUMP opened at $10.62 on Wednesday. ProPetro Holding Corp. has a 12-month low of $4.52 and a 12-month high of $18.50. The stock has a market cap of $1.30 billion, a PE ratio of -96.56 and a beta of 0.77. The business has a 50 day moving average of $12.52 and a 200-day moving average of $13.76. The company has a quick ratio of 4.00, a current ratio of 4.09 and a debt-to-equity ratio of 0.80.

ProPetro (NYSE:PUMP) last announced its earnings results on Wednesday, July 29th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). The firm had revenue of $305.81 million for the quarter, compared to the consensus estimate of $304.48 million. ProPetro had a negative return on equity of 1.49% and a negative net margin of 1.15%.ProPetro’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.07) EPS. As a group, equities research analysts forecast that ProPetro Holding Corp. will post -0.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProPetro in a research note on Friday, July 31st. Piper Sandler cut their price target on ProPetro from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Odeon Capital Group initiated coverage on shares of ProPetro in a research report on Thursday, May 28th. They set a “buy” rating for the company. Stifel Nicolaus decreased their price objective on shares of ProPetro from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $16.00 price objective on shares of ProPetro in a research report on Wednesday, June 3rd. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.50.

ProPetro Profile

ProPetro Holding Corp is a publicly traded oilfield services company that specializes in hydraulic fracturing and well completion solutions for exploration and production operators. Headquartered in Midland, Texas, the company delivers a comprehensive suite of pressure pumping services designed to optimize reservoir stimulation and enhance hydrocarbon recovery. Its integrated approach encompasses well design, proppant selection, fluid systems and pressure management to support clients’ development targets across unconventional plays.

The company’s core offerings include high-pressure fracturing, coiled tubing, cementing, acidizing and flowback services, all supported by in-house logistics and digital monitoring tools.