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

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

PUMP has been the topic of several other research reports. Raymond James increased their price target on Asante Solutions from $5.00 to $6.00 and gave the company an outperform rating in a report on Wednesday, June 3rd. Tudor Pickering cut Asante Solutions from a buy rating to a hold rating in a research report on Wednesday, March 11th. Credit Suisse Group increased their price objective on Asante Solutions from $4.75 to $5.50 and gave the company an outperform rating in a research report on Wednesday, June 3rd. Royal Bank of Canada reissued a buy rating and issued a $6.00 price objective on shares of Asante Solutions in a research report on Monday, June 15th. Finally, JPMorgan Chase & Co. reduced their price objective 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 analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $11.23.

Shares of PUMP stock opened at $5.04 on Friday. Asante Solutions has a 12 month low of $1.36 and a 12 month high of $21.83. The business’s 50 day moving average is $5.23 and its two-hundred day moving average is $6.88.

Asante Solutions (NASDAQ:PUMP) last announced its quarterly earnings results on Monday, June 1st. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.19 by ($0.27). The business had revenue of $395.10 million during the quarter, compared to the consensus estimate of $392.26 million. During the same quarter in the previous year, the business posted $0.67 EPS. The firm’s revenue was down 27.6% on a year-over-year basis.

A number of hedge funds have recently modified their holdings of the stock. Comerica Bank lifted its position in Asante Solutions by 3.3% in the first quarter. Comerica Bank now owns 80,071 shares of the company’s stock worth $294,000 after purchasing an additional 2,594 shares during the period. Public Employees Retirement Association of Colorado lifted its position in Asante Solutions by 29.3% in the first 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 during the period. Nisa Investment Advisors LLC lifted its position in Asante Solutions by 633.3% in the first 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 during the period. Marshall Wace LLP lifted 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 worth $709,000 after purchasing an additional 15,097 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Asante Solutions by 101.9% during the first quarter. BNP Paribas Arbitrage SA now owns 58,810 shares of the company’s stock valued at $147,000 after acquiring an additional 29,677 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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Analyst Recommendations for Asante Solutions (NASDAQ:PUMP)

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