ProPetro Shares Surge 45% Despite Lower Q3 Revenue

(RTTNews) - ProPetro Holding Corp. (PUMP) shares jumped 44.63 percent to $10.56, up $3.26 in Wednesday trading, even as the company reported a decline in third-quarter revenue. Total revenue fell 10 percent to $294 million from $326 million in the prior quarter, while the company narrowed its net loss to $2 million, or $0.02 per share, from a $7 million loss, or $0.07 per share, previously.

The stock opened at $9.00 and traded between $8.55 and $10.71, compared with a prior close of $7.30 on the New York Stock Exchange. Trading volume soared to 14.7 million shares, far above the average of 2.8 million.

ProPetro's 52-week range is $4.51 to $11.17.