ProFrac Holding Corp. (NASDAQ:ACDC) Stock Has Consensus Price Target of $5.25

Key Points

• Analysts have a consensus “Reduce” rating on ProFrac, with two sell, two hold and one buy recommendation. The average 12-month price target is $5.25, while Morgan Stanley recently lowered its target to $4.50.
• ProFrac shares opened at $4.58 and have traded between $3.08 and $8.22 over the past year. The company has a market capitalization of approximately $834 million and elevated leverage, with a debt-to-equity ratio of 1.42.
• Insiders have been buying shares: insiders purchased more than 2 million shares worth about $9.75 million over the past 90 days, while institutional investors own 12.75% of the stock.

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) has been assigned a consensus recommendation of "Reduce" from the five analysts that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $5.25.

Several equities research analysts have commented on the stock. Wall Street Zen upgraded shares of ProFrac from a "sell" rating to a "hold" rating in a research note on Saturday. Weiss Ratings reiterated a "sell (d-)" rating on shares of ProFrac in a research note on Monday, September 21st. Finally, Morgan Stanley decreased their price target on shares of ProFrac from $5.00 to $4.50 and set an "underweight" rating for the company in a research note on Thursday, August 20th.

ProFrac Trading Up 4.1%

Shares of ProFrac stock opened at $4.58 on Friday. The stock has a market capitalization of $834.11 million, a PE ratio of -1.97 and a beta of 1.52. The stock has a 50 day moving average price of $4.75 and a two-hundred day moving average price of $5.78. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.59 and a current ratio of 0.84. ProFrac has a 52 week low of $3.08 and a 52 week high of $8.22.

Insider Buying and Selling at ProFrac

In other ProFrac news, CEO Matthew Wilks bought 57,519 shares of ProFrac stock in a transaction dated Monday, August 10th. The stock was purchased at an average price of $4.86 per share, for a total transaction of $279,542.34. Following the completion of the purchase, the chief executive officer directly owned 479,616 shares of the company's stock, valued at approximately $2,330,933.76. This trade represents a 13.63% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Dan H. Wilks purchased 517,669 shares of the company's stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average price of $4.86 per share, for a total transaction of $2,515,871.34. Following the completion of the purchase, the insider directly owned 87,297,864 shares in the company, valued at $424,267,619.04. This represents a 0.60% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 2,014,454 shares of company stock valued at $9,750,117. Company insiders own 2.23% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of ProFrac by 156.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 390,420 shares of the company's stock worth $2,421,000 after purchasing an additional 238,210 shares in the last quarter. Walleye Capital LLC boosted its holdings in ProFrac by 328.6% during the 1st quarter. Walleye Capital LLC now owns 347,911 shares of the company's stock valued at $2,157,000 after acquiring an additional 266,742 shares during the period. Bank of America Corp DE grew its position in ProFrac by 186.9% during the 1st quarter. Bank of America Corp DE now owns 175,664 shares of the company's stock worth $1,089,000 after acquiring an additional 114,429 shares during the last quarter. Renaissance Technologies LLC purchased a new position in ProFrac in the 1st quarter worth approximately $872,000. Finally, Allworth Financial LP increased its stake in ProFrac by 88.8% in the 2nd quarter. Allworth Financial LP now owns 6,658 shares of the company's stock worth $39,000 after purchasing an additional 3,131 shares during the period. 12.75% of the stock is currently owned by institutional investors.

ProFrac Company Profile

ProFrac Holding Corp. is an energy services company that provides hydraulic fracturing and other completion services to oil and natural gas producers. Its operations support the development of unconventional wells, where specialized equipment and high-pressure pumping are used to stimulate underground formations and improve hydrocarbon recovery.

The company operates an integrated business model spanning stimulation services, proppant production and manufacturing. Its offerings include hydraulic fracturing, well stimulation, frac sand and other proppants, logistics and related equipment manufacturing, maintenance and repair services.

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