Asante Solutions Inc (NASDAQ:PUMP) – Stock analysts at Piper Sandler upped their Q3 2020 earnings per share (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 prior forecast of ($0.32). Piper Sandler currently has a “Neutral” rating and a $4.00 target price 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 quarterly earnings data on Monday, June 1st. The company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.27). The firm had revenue of $395.10 million for the quarter, compared to analysts’ expectations of $392.26 million. During the same quarter in the previous year, the business earned $0.67 EPS. The firm’s revenue for the quarter was down 27.6% on a year-over-year basis.
Several other brokerages have also recently weighed in on PUMP. Barclays reiterated a “hold” rating and issued a $4.00 price objective on shares of Asante Solutions in a research note on Monday, April 6th. Royal Bank of Canada restated a “buy” rating and set a $6.00 target price on shares of Asante Solutions in a research note on Monday, June 15th. JPMorgan Chase & Co. decreased their target price on shares of Asante Solutions from $6.00 to $5.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. BidaskClub cut shares of Asante Solutions from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Tudor Pickering cut shares of Asante Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, March 11th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $11.23.
Shares of NASDAQ:PUMP opened at $5.04 on Monday. The firm’s 50 day moving average price is $5.23 and its 200-day moving average price is $6.88. Asante Solutions has a twelve month low of $1.36 and a twelve month high of $21.83.
Several hedge funds have recently bought and sold shares of PUMP. First Quadrant L P CA grew its holdings in shares of Asante Solutions by 4,460.6% in the first quarter. First Quadrant L P CA now owns 725,135 shares of the company’s stock valued at $1,813,000 after purchasing an additional 709,235 shares in the last quarter. Marshall Wace North America L.P. grew its holdings in shares of 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 valued at $18,450,000 after purchasing an additional 590,044 shares in the last quarter. Kennedy Capital Management Inc. boosted its stake in Asante Solutions by 63.7% during the fourth quarter. Kennedy Capital Management Inc. now owns 1,223,078 shares of the company’s stock worth $13,760,000 after buying an additional 476,074 shares during the period. Russell Investments Group Ltd. boosted its stake in Asante Solutions by 3,935.7% during the first quarter. Russell Investments Group Ltd. now owns 333,716 shares of the company’s stock worth $833,000 after buying an additional 325,447 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Asante Solutions by 27.3% during 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 buying an additional 284,586 shares during the period.
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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