ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $7.09, but opened at $7.94. ProFrac shares last traded at $7.84, with a volume of 519,792 shares traded.
Analyst Ratings Changes
A number of brokerages recently weighed in on ACDC. Bank of America raised their target price on shares of ProFrac from $8.50 to $9.50 and gave the stock a "neutral" rating in a report on Monday, April 15th. Stifel Nicolaus decreased their target price on ProFrac from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Thursday, March 14th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $12.50.
View Our Latest Analysis on ACDC
ProFrac Price Performance
The company has a debt-to-equity ratio of 0.74, a current ratio of 0.98 and a quick ratio of 0.62. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -15.51 and a beta of 0.76. The stock's fifty day moving average price is $8.05 and its 200-day moving average price is $8.04.
ProFrac (NASDAQ:ACDC - Get Free Report) last announced its earnings results 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). The firm had revenue of $489.10 million for the quarter, compared to analyst estimates of $594.17 million. ProFrac had a negative net margin of 3.98% and a positive return on equity of 3.04%. Equities research analysts predict that ProFrac Holding Corp. will post 0.84 EPS for the current fiscal year.
Hedge Funds Weigh In On ProFrac
A number of large investors have recently made changes to their positions in ACDC. Peoples Bank KS purchased a new position in ProFrac during the third quarter valued at approximately $33,000. Tower Research Capital LLC TRC raised its stake in shares of ProFrac by 42.4% in the 4th 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 in the last quarter. SG Americas Securities LLC acquired a new stake in ProFrac in the 3rd quarter worth approximately $159,000. Delta Investment Management LLC boosted its position in ProFrac by 47.8% during the first quarter. Delta Investment Management LLC now owns 15,469 shares of the company's stock worth $129,000 after purchasing an additional 5,000 shares during the period. Finally, Jump Financial LLC bought a new position in shares of ProFrac in the fourth quarter valued at approximately $179,000. Institutional investors and hedge funds own 12.75% of the company's stock.
About ProFrac
(
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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.
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