ProFrac (NASDAQ:ACDC) Shares Gap Down to $7.93

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $7.93, but opened at $7.76. ProFrac shares last traded at $8.00, with a volume of 66,680 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ACDC shares. Stifel Nicolaus cut their price objective on shares of ProFrac from $12.00 to $10.00 and set a "buy" rating for the company in a research report on Thursday, March 14th. Bank of America raised their price objective on shares of ProFrac from $8.50 to $9.50 and gave the company a "neutral" rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $12.50.

ProFrac Price Performance

The stock has a market capitalization of $1.29 billion, a PE ratio of -15.30 and a beta of 0.71. The firm's 50 day simple moving average is $8.02 and its 200 day simple moving average is $8.23. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.98 and a quick ratio of 0.62.

ProFrac (NASDAQ:ACDC - Get Free Report) last issued its earnings results on Friday, March 15th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.23). ProFrac had a positive return on equity of 3.04% and a negative net margin of 3.98%. The firm had revenue of $489.10 million during the quarter, compared to analysts' expectations of $594.17 million. As a group, equities analysts forecast that ProFrac Holding Corp. will post 0.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Sandia Investment Management LP purchased a new position in ProFrac during the 1st quarter valued at $32,000. Peoples Bank KS purchased a new position in ProFrac during the 3rd quarter valued at $33,000. Tower Research Capital LLC TRC boosted its holdings in shares of ProFrac by 42.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,827 shares of the company's stock valued at $58,000 after buying an additional 2,034 shares in the last quarter. Quarry LP bought a new stake in shares of ProFrac during the 1st quarter valued at $68,000. Finally, Citigroup Inc. boosted its holdings in shares of ProFrac by 1,789.0% during the 2nd quarter. Citigroup Inc. now owns 7,707 shares of the company's stock valued at $86,000 after buying an additional 7,299 shares in the last quarter. 12.75% of the stock is owned by hedge funds and other institutional investors.

ProFrac Company Profile

ProFrac Holding Corp. operates as a technology-focused energy services holding company in the United States. It operates through three segments: Stimulation Services, Manufacturing, and Proppant Production. The company offers hydraulic fracturing, well stimulation, in-basin frac sand, and other completion services and complementary products and services to upstream oil and natural gas companies engaged in the exploration and production of unconventional oil and natural gas resources.