ProFrac Holding Corp. (NASDAQ:ACDC) Receives Consensus Rating of "Reduce" from Brokerages

Shares of ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) have received an average rating of "Reduce" from the five brokerages that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $6.70.

ACDC has been the subject of a number of analyst reports. Morgan Stanley lowered their price objective on ProFrac from $7.00 to $5.00 and set an "underweight" rating for the company in a research report on Friday, May 16th. Wall Street Zen upgraded ProFrac from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Stifel Nicolaus decreased their price objective on ProFrac from $7.00 to $6.00 and set a "hold" rating for the company in a report on Tuesday, April 15th. Finally, Bank of America cut ProFrac from a "neutral" rating to an "underperform" rating and set a $6.50 target price on the stock. in a research report on Wednesday, June 25th.

ProFrac Price Performance

Shares of ACDC stock remained flat at $7.97 during mid-day trading on Friday. The stock had a trading volume of 400,996 shares, compared to its average volume of 722,660. The business has a fifty day moving average price of $7.48 and a two-hundred day moving average price of $7.14. ProFrac has a 12-month low of $3.83 and a 12-month high of $10.70. The stock has a market capitalization of $1.28 billion, a P/E ratio of -5.35 and a beta of 1.69. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.69 and a current ratio of 0.98.

ProFrac (NASDAQ:ACDC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.31) by $0.20. ProFrac had a negative return on equity of 11.85% and a negative net margin of 10.72%. On average, equities research analysts anticipate that ProFrac will post -0.5 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Holdings Lp Thrc acquired 207,163 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were bought at an average cost of $6.25 per share, for a total transaction of $1,294,768.75. Following the purchase, the insider owned 79,855,858 shares in the company, valued at $499,099,112.50. This trade represents a 0.26% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Matthew Wilks acquired 69,176 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were bought at an average price of $4.85 per share, for a total transaction of $335,503.60. Following the completion of the purchase, the chairman owned 378,153 shares in the company, valued at $1,834,042.05. This trade represents a 22.39% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 733,996 shares of company stock worth $4,356,960. 2.84% of the stock is currently owned by corporate insiders.

Institutional Trading of ProFrac

A number of hedge funds and other institutional investors have recently made changes to their positions in ACDC. Farther Finance Advisors LLC bought a new position in ProFrac in the 2nd quarter worth about $29,000. AlphaQuest LLC bought a new position in ProFrac in the 4th quarter worth about $66,000. Exchange Traded Concepts LLC increased its stake in ProFrac by 1,258.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 10,164 shares of the company's stock worth $77,000 after acquiring an additional 9,416 shares during the last quarter. HighTower Advisors LLC bought a new position in ProFrac in the 4th quarter worth about $85,000. Finally, Walleye Capital LLC bought a new position in ProFrac in the 1st quarter worth about $97,000. 12.75% of the stock is currently owned by 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.