Asante Solutions (NASDAQ:PUMP) Cut to “Sell” at BidaskClub

BidaskClub downgraded shares of Asante Solutions (NASDAQ:PUMP) from a hold rating to a sell rating in a research report report published on Saturday, BidAskClub reports.

PUMP has been the topic of a number of other reports. B. Riley decreased their price objective on Asante Solutions from $5.50 to $7.25 in a report on Wednesday, June 3rd. Royal Bank of Canada reaffirmed a buy rating and issued a $6.00 price objective on shares of Asante Solutions in a report on Monday, June 15th. Piper Sandler upped their target price on Asante Solutions from $3.75 to $4.00 and gave the company a neutral rating in a research report on Thursday, May 28th. Credit Suisse Group upped their target price on Asante Solutions from $4.75 to $5.50 and gave the company an outperform rating in a research report on Wednesday, June 3rd. Finally, JPMorgan Chase & Co. cut their target price on Asante Solutions from $6.00 to $5.00 and set an overweight rating for the company in a research report on Thursday, April 2nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $11.23.

PUMP stock opened at $5.04 on Friday. Asante Solutions has a 1-year low of $1.36 and a 1-year high of $21.83. The business’s 50 day simple moving average is $5.23 and its 200 day simple moving average is $6.88.

Asante Solutions (NASDAQ:PUMP) last posted its earnings results on Monday, June 1st. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates 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. The company’s revenue was down 27.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 earnings per share.

Several hedge funds have recently made changes to their positions in PUMP. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Asante Solutions during the 4th quarter worth $562,000. Van ECK Associates Corp raised its position in Asante Solutions by 10.9% in the fourth quarter. Van ECK Associates Corp now owns 2,879,572 shares of the company’s stock valued at $32,395,000 after purchasing an additional 284,156 shares during the last quarter. Marshall Wace North America L.P. raised its position 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 valued at $18,450,000 after purchasing an additional 590,044 shares during the last quarter. Bank of New York Mellon Corp raised its position 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 valued at $14,946,000 after purchasing an additional 284,586 shares during the last quarter. Finally, Marshall Wace LLP raised its position in Asante Solutions by 31.5% in the fourth quarter. Marshall Wace LLP now owns 63,060 shares of the company’s stock valued at $709,000 after purchasing an additional 15,097 shares during 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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Analyst Recommendations for Asante Solutions (NASDAQ:PUMP)

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