Asante Solutions Inc (NASDAQ:PUMP) – Analysts at Piper Sandler boosted their Q3 2020 EPS estimates for Asante Solutions in a report released on Wednesday, June 24th. Piper Sandler analyst I. Macpherson now expects that the company will post earnings of ($0.29) per share for the quarter, up from their previous estimate of ($0.32). Piper Sandler has a “Neutral” rating and a $4.00 price objective on the stock. Piper Sandler also issued estimates for Asante Solutions’ Q4 2020 earnings at ($0.28) EPS, FY2020 earnings at ($0.53) EPS, Q1 2021 earnings at ($0.28) EPS, Q2 2021 earnings at ($0.25) EPS, Q3 2021 earnings at ($0.19) EPS, Q4 2021 earnings at ($0.23) EPS and FY2021 earnings at ($0.95) EPS.

Asante Solutions (NASDAQ:PUMP) last issued its earnings results on Monday, June 1st. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.27). The company had revenue of $395.10 million during the quarter, compared to analyst estimates of $392.26 million. During the same quarter in the prior year, the business earned $0.67 earnings per share. The company’s revenue for the quarter was down 27.6% on a year-over-year basis.

Several other analysts also recently issued reports on PUMP. BidaskClub downgraded Asante Solutions from a “hold” rating to a “sell” rating in a report on Saturday. Stephens downgraded Asante Solutions from an “overweight” rating to an “equal weight” rating and set a $15.00 price target for the company. in a report on Monday, March 16th. Raymond James increased their price target on Asante Solutions from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Royal Bank of Canada reiterated a “buy” rating and issued a $6.00 price target on shares of Asante Solutions in a report on Monday, June 15th. Finally, Bank of America downgraded Asante Solutions from a “neutral” rating to an “underperform” rating in a report on Monday, March 9th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $11.23.

Shares of NASDAQ PUMP opened at $5.04 on Monday. Asante Solutions has a 12-month low of $1.36 and a 12-month high of $21.83. The stock has a fifty day moving average price of $5.23 and a 200 day moving average price of $6.90.

Large investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA grew its stake in Asante Solutions by 101.9% in the first quarter. BNP Paribas Arbitrage SA now owns 58,810 shares of the company’s stock worth $147,000 after purchasing an additional 29,677 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Asante Solutions by 27.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,328,481 shares of the company’s stock worth $14,946,000 after purchasing an additional 284,586 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Asante Solutions by 633.3% in the first quarter. Nisa Investment Advisors LLC now owns 11,000 shares of the company’s stock worth $28,000 after purchasing an additional 9,500 shares in the last quarter. Geode Capital Management LLC grew its stake in Asante Solutions by 8.3% in the fourth quarter. Geode Capital Management LLC now owns 1,041,803 shares of the company’s stock worth $11,720,000 after purchasing an additional 79,562 shares in the last quarter. Finally, Marshall Wace North America L.P. grew its stake in Asante Solutions by 56.2% in the fourth quarter. Marshall Wace North America L.P. now owns 1,639,970 shares of the company’s stock worth $18,450,000 after purchasing an additional 590,044 shares in the last quarter.

Asante Solutions Company Profile

ProPetro Holding Corp., an oilfield services company, provides pressure pumping and other related services. The company offers hydraulic fracturing services; and a suite of well completion and production services, including cementing, acidizing, coiled tubing, flowback, surface air drilling, and drilling services.

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Earnings History and Estimates for Asante Solutions (NASDAQ:PUMP)

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