ProFrac (NASDAQ:ACDC) Shares Gap Down to $8.55

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $8.55, but opened at $8.34. ProFrac shares last traded at $8.43, with a volume of 386,927 shares changing hands.

Analysts Set New Price Targets

Several research analysts have commented on ACDC shares. Stifel Nicolaus lowered 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 lifted their target price on ProFrac from $8.50 to $9.50 and gave the company a "neutral" rating in a research report on Monday, April 15th.

ProFrac Stock Up 5.4 %

The stock has a 50 day moving average price of $8.08 and a 200 day moving average price of $8.02. The company has a current ratio of 1.07, a quick ratio of 0.62 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $1.44 billion, a P/E ratio of -9.68 and a beta of 0.76.

ProFrac (NASDAQ:ACDC - Get Free Report) last released its quarterly earnings data on Friday, March 15th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.23). ProFrac had a negative net margin of 5.35% and a negative return on equity of 1.00%. The firm had revenue of $489.10 million during the quarter, compared to analyst estimates of $594.17 million. On average, research analysts anticipate that ProFrac Holding Corp. will post 0.71 earnings per share for the current fiscal year.

Institutional Trading of ProFrac

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its stake in ProFrac by 42.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,827 shares of the company's stock valued at $58,000 after acquiring an additional 2,034 shares during the period. Delta Investment Management LLC grew its position in ProFrac by 47.8% in the 1st quarter. Delta Investment Management LLC now owns 15,469 shares of the company's stock valued at $129,000 after purchasing an additional 5,000 shares during the period. Bank of New York Mellon Corp increased its stake in ProFrac by 5.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 172,244 shares of the company's stock valued at $1,874,000 after purchasing an additional 8,265 shares in the last quarter. New York State Common Retirement Fund raised its holdings in ProFrac by 56.4% during the third quarter. New York State Common Retirement Fund now owns 48,661 shares of the company's stock worth $529,000 after buying an additional 17,539 shares during the last quarter. Finally, Jump Financial LLC bought a new position in shares of ProFrac in the fourth quarter valued at $179,000. Institutional investors and hedge funds own 12.75% of the company's stock.

About ProFrac

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.