Asante Solutions Inc (NASDAQ:PUMP) Receives Average Recommendation of “Hold” from Brokerages

Shares of Asante Solutions Inc (NASDAQ:PUMP) have been assigned an average rating of “Hold” from the seventeen brokerages that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $8.13.

PUMP has been the topic of a number of recent research reports. Credit Suisse Group boosted their price objective on Asante Solutions from $6.50 to $7.50 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Citigroup boosted their price target on Asante Solutions from $5.50 to $6.50 and gave the stock a “neutral” rating in a research note on Wednesday, August 26th. BidaskClub cut Asante Solutions from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 15th. Raymond James boosted their price target on Asante Solutions from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. Finally, Piper Sandler boosted their price target on Asante Solutions from $3.75 to $4.00 and gave the stock a “neutral” rating in a research note on Thursday, May 28th.

Shares of PUMP traded down $0.31 during midday trading on Wednesday, reaching $3.95. 1,899,151 shares of the company were exchanged, compared to its average volume of 2,027,256. The stock has a 50-day moving average price of $5.84 and a 200-day moving average price of $4.86. Asante Solutions has a 1-year low of $1.36 and a 1-year high of $12.11.

Asante Solutions (NASDAQ:PUMP) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.06). The business had revenue of $106.11 million during the quarter, compared to the consensus estimate of $109.85 million. Asante Solutions’s quarterly revenue was down 80.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS.

In other news, Director Mark Stephen Berg acquired 12,274 shares of the stock in a transaction that occurred on 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 acquisition, the director now directly owns 12,274 shares in the company, valued at $74,994.14. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Several large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio grew its holdings in shares of Asante Solutions by 1,076.5% during the second quarter. Public Employees Retirement System of Ohio now owns 17,353 shares of the company’s stock valued at $89,000 after purchasing an additional 15,878 shares during the last quarter. Tudor Investment Corp Et Al bought a new position in shares of Asante Solutions during the second quarter valued at approximately $83,000. AJO LP bought a new position in shares of Asante Solutions during the second quarter valued at approximately $2,301,000. American International Group Inc. grew its holdings in shares of Asante Solutions by 3.1% during the second quarter. American International Group Inc. now owns 56,901 shares of the company’s stock valued at $292,000 after purchasing an additional 1,694 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Asante Solutions by 13.5% during the second quarter. Russell Investments Group Ltd. now owns 378,923 shares of the company’s stock valued at $1,945,000 after purchasing an additional 45,207 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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