Asante Solutions Inc (NASDAQ:PUMP) has received an average rating of “Hold” from the twenty-one analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $11.44.
A number of equities analysts recently weighed in on PUMP shares. JPMorgan Chase & Co. decreased their price target 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. B. Riley reduced their price objective on Asante Solutions from $5.50 to $7.25 in a research note on Wednesday, June 3rd. Royal Bank of Canada reissued a “buy” rating on shares of Asante Solutions in a research note on Thursday, April 2nd. Wolfe Research downgraded Asante Solutions from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 19th. Finally, Barclays reissued a “hold” rating and issued a $4.00 price objective on shares of Asante Solutions in a research note on Monday, April 6th.
Several hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC grew its holdings in shares of Asante Solutions by 633.3% during the 1st 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. Public Employees Retirement Association of Colorado grew its holdings in shares of Asante Solutions by 29.3% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 21,974 shares of the company’s stock worth $55,000 after purchasing an additional 4,977 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Asante Solutions by 101.9% during the 1st 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. Cigna Investments Inc. New acquired a new stake in shares of Asante Solutions during the 1st quarter worth approximately $278,000. Finally, Comerica Bank grew its holdings in shares of Asante Solutions by 3.3% during the 1st quarter. Comerica Bank now owns 80,071 shares of the company’s stock worth $294,000 after purchasing an additional 2,594 shares in the last quarter.
Asante Solutions (NASDAQ:PUMP) last released its quarterly earnings results on Monday, June 1st. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.27). The firm had revenue of $395.10 million during the quarter, compared to the consensus estimate of $392.26 million. During the same period last year, the firm posted $0.67 earnings per share. The business’s quarterly revenue was down 27.6% on a year-over-year basis.
About Asante Solutions
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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