ProFrac Holding Corp. (NASDAQ:ACDC) Given Average Rating of "Reduce" by Brokerages

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

A number of equities analysts have recently weighed in on ACDC shares. Stifel Nicolaus lowered their price target on shares of ProFrac from $7.00 to $6.00 and set a "hold" rating on the stock in a research note on Tuesday, April 15th. Wall Street Zen upgraded shares of ProFrac from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Bank of America lowered shares of ProFrac from a "neutral" rating to an "underperform" rating and set a $6.50 price objective on the stock. in a research report on Wednesday, June 25th. Finally, Morgan Stanley decreased their price objective on shares of ProFrac from $7.00 to $5.00 and set an "underweight" rating on the stock in a research report on Friday, May 16th.

ProFrac Stock Performance

NASDAQ:ACDC opened at $7.87 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.98 and a debt-to-equity ratio of 0.92. ProFrac has a fifty-two week low of $3.83 and a fifty-two week high of $10.70. The stock has a market cap of $1.26 billion, a PE ratio of -5.28 and a beta of 1.69. The firm's fifty day simple moving average is $7.41 and its 200-day simple moving average is $7.14.

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

Insider Activity

In other ProFrac 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 acquired at an average cost of $6.25 per share, for a total transaction of $1,294,768.75. Following the transaction, the insider directly owned 79,855,858 shares of the company's stock, valued at approximately $499,099,112.50. This represents a 0.26% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Matthew Wilks bought 69,176 shares of ProFrac stock in a transaction on Monday, May 12th. The stock was purchased at an average price of $4.85 per share, for a total transaction of $335,503.60. Following the completion of the acquisition, the chairman owned 378,153 shares in the company, valued at $1,834,042.05. This represents a 22.39% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 733,996 shares of company stock worth $4,356,960 over the last quarter. Insiders own 2.84% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AlphaQuest LLC purchased a new position in ProFrac in the 4th quarter valued at about $66,000. Exchange Traded Concepts LLC lifted its holdings in shares of ProFrac by 1,258.8% during 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 period. HighTower Advisors LLC purchased a new position in shares of ProFrac during the 4th quarter worth about $85,000. Walleye Capital LLC purchased a new position in shares of ProFrac during the 1st quarter worth about $97,000. Finally, Deutsche Bank AG lifted its holdings in shares of ProFrac by 64.7% during the 1st quarter. Deutsche Bank AG now owns 14,680 shares of the company's stock worth $111,000 after acquiring an additional 5,767 shares during the period. 12.75% of the stock is currently owned by hedge funds and other institutional investors.

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.

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