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

Key Points

• Analysts are broadly bearish on ProFrac: Five analysts give the stock a consensus “Reduce” rating, with two sells, two holds, and one buy. The average 12-month price target is $5.25.
• ProFrac shares opened at $4.99, with a market capitalization of about $908.8 million. The stock has traded between $3.08 and $8.22 over the past year, while its 200-day moving average stands at $5.52.
• Insiders purchased more than 2 million shares worth approximately $9.75 million over the past 90 days. Institutional investors and hedge funds own 12.75% of the company.

Shares of ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) have received an average recommendation of "Reduce" from the five analysts that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $5.25.

Several equities analysts have issued reports on ACDC shares. Morgan Stanley dropped their price objective on shares of ProFrac from $5.00 to $4.50 and set an "underweight" rating on the stock in a research note on Thursday, August 20th. Weiss Ratings reiterated a "sell (d-)" rating on shares of ProFrac in a research report on Monday, September 21st. Finally, Wall Street Zen lowered shares of ProFrac from a "hold" rating to a "sell" rating in a research report on Saturday, October 24th.

ProFrac Stock Performance

NASDAQ ACDC opened at $4.99 on Thursday. The firm has a market cap of $908.79 million, a P/E ratio of -2.14 and a beta of 1.52. The company has a quick ratio of 0.59, a current ratio of 0.84 and a debt-to-equity ratio of 1.42. The business's 50-day moving average price is $4.69 and its 200 day moving average price is $5.52. ProFrac has a 52-week low of $3.08 and a 52-week high of $8.22.

Insider Transactions at ProFrac

In other news, major shareholder Dan H. Wilks acquired 30,820 shares of the business's stock in a transaction dated Tuesday, August 25th. The stock was acquired at an average price of $4.81 per share, with a total value of $148,244.20. Following the completion of the transaction, the insider directly owned 88,107,422 shares in the company, valued at approximately $423,796,699.82. This represents a 0.03% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Holdings Lp Thrc bought 30,820 shares of the stock in a transaction on Tuesday, August 25th. The stock was purchased at an average cost of $4.81 per share, with a total value of $148,244.20. Following the completion of the purchase, the insider directly owned 83,816,235 shares in the company, valued at $403,156,090.35. This trade represents a 0.04% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 2,014,454 shares of company stock worth $9,750,117 over the last ninety days. 2.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ProFrac

Several hedge funds have recently made changes to their positions in ACDC. State of Alaska Department of Revenue increased its stake in ProFrac by 47.6% in the third quarter. State of Alaska Department of Revenue now owns 8,662 shares of the company's stock valued at $37,000 after purchasing an additional 2,795 shares during the last quarter. Allworth Financial LP lifted its position in ProFrac by 88.8% during the second quarter. Allworth Financial LP now owns 6,658 shares of the company's stock worth $39,000 after buying an additional 3,131 shares during the period. Integrated Wealth Concepts LLC purchased a new position in ProFrac during the second quarter worth about $68,000. SG Americas Securities LLC purchased a new position in ProFrac during the first quarter worth about $86,000. Finally, AXQ Capital LP boosted its stake in ProFrac by 11.0% in the 2nd quarter. AXQ Capital LP now owns 45,301 shares of the company's stock worth $263,000 after buying an additional 4,487 shares during the last quarter. Institutional investors and hedge funds own 12.75% of the company's stock.

About ProFrac

ProFrac Holding Corp. is an energy services company that provides hydraulic fracturing and other well-stimulation services to oil and natural gas producers. Through its operations, the company supports the development and completion of unconventional wells, primarily in North American onshore energy markets.

The company's activities include pressure pumping and hydraulic fracturing services, proppant production and distribution, and the manufacture, sale, and maintenance of equipment used in well-completion operations.

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