Several other research analysts have also issued reports on the stock. Piper Sandler upped their target price on shares of Asante Solutions from $3.75 to $4.00 and gave the stock a “neutral” rating in a research report on Thursday, May 28th. Credit Suisse Group boosted their price target on shares of Asante Solutions from $6.50 to $7.50 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Raymond James boosted their price target on shares of Asante Solutions from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. B. Riley lowered their price target on shares of Asante Solutions from $5.50 to $7.25 in a research note on Wednesday, June 3rd. Finally, Cowen raised shares of Asante Solutions from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $7.50 to $8.50 in a research note on Wednesday, July 15th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $8.13.
PUMP opened at $5.13 on Tuesday. Asante Solutions has a one year low of $1.36 and a one year high of $12.11. The company has a fifty day moving average price of $5.91 and a 200-day moving average price of $4.98.
Asante Solutions (NASDAQ:PUMP) last announced its earnings results on Tuesday, August 4th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.06). The company had revenue of $106.11 million for the quarter, compared to the consensus estimate of $109.85 million. During the same period in the previous year, the business earned $0.35 EPS. The business’s quarterly revenue was down 80.0% compared to the same quarter last year.
In other news, Director Mark Stephen Berg acquired 12,274 shares of the stock in a transaction dated Monday, August 24th. The stock was purchased at an average cost of $6.11 per share, with a total value of $74,994.14. Following the completion of the purchase, the director now owns 12,274 shares in the company, valued at approximately $74,994.14. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.
A number of hedge funds have recently added to or reduced their stakes in PUMP. AJO LP bought a new position in Asante Solutions in the second quarter worth about $2,301,000. Russell Investments Group Ltd. raised its stake in Asante Solutions by 3,935.7% in 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 in the last quarter. Viking Fund Management LLC raised its stake in Asante Solutions by 230.0% in the second quarter. Viking Fund Management LLC now owns 330,000 shares of the company’s stock worth $1,696,000 after buying an additional 230,000 shares in the last quarter. Cigna Investments Inc. New bought a new position in Asante Solutions in the first quarter worth about $278,000. Finally, Nisa Investment Advisors LLC raised its stake in Asante Solutions by 992.5% in the second quarter. Nisa Investment Advisors LLC now owns 120,180 shares of the company’s stock worth $618,000 after buying an additional 109,180 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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