ProFrac Holding Corp. (NASDAQ:ACDC) Given Average Recommendation of "Strong Sell" by Analysts

Key Points

• ProFrac Holding Corp. has received a consensus recommendation of "Strong Sell" from five research firms, with an average target price of $6.10.
• Recent analyst activity includes downgrades from Bank of America and Wall Street Zen, with Morgan Stanley lowering its price objective to $5.00.
• Insider Holdings Lp Thrc purchased 2.5 million shares at $4.00 each, increasing their stake in ProFrac by 3.13% to a total of approximately $329.6 million.

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) has earned a consensus recommendation of "Strong Sell" from the five brokerages that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $6.10.

A number of analysts have weighed in on ACDC shares. Wall Street Zen lowered shares of ProFrac from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Morgan Stanley reduced their price objective on shares of ProFrac from $7.00 to $5.00 and set an "underweight" rating for the company in a research note on Friday, May 16th. Piper Sandler reduced their price objective on shares of ProFrac from $8.00 to $6.00 and set a "neutral" rating for the company in a research note on Wednesday, August 20th. Finally, Bank of America lowered shares of ProFrac from a "neutral" rating to an "underperform" rating and set a $6.50 price target for the company. in a research note on Wednesday, June 25th.

ProFrac Stock Down 3.2%

Shares of ProFrac stock traded down $0.13 during trading on Friday, hitting $3.81. The company's stock had a trading volume of 423,492 shares, compared to its average volume of 886,344. The company has a market capitalization of $609.87 million, a PE ratio of -2.19 and a beta of 1.64. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.91. ProFrac has a 52 week low of $3.43 and a 52 week high of $10.70. The company has a fifty day simple moving average of $6.40 and a two-hundred day simple moving average of $6.62.

ProFrac (NASDAQ:ACDC - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.67) earnings per share for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.38). The firm had revenue of $501.90 million for the quarter, compared to the consensus estimate of $532.93 million. ProFrac had a negative net margin of 12.89% and a negative return on equity of 22.78%. Equities research analysts predict that ProFrac will post -0.5 earnings per share for the current year.

Insider Activity

In other ProFrac news, major shareholder Holdings Lp Thrc acquired 2,500,000 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were bought at an average price of $4.00 per share, with a total value of $10,000,000.00. Following the completion of the acquisition, the insider owned 82,389,657 shares in the company, valued at $329,558,628. This represents a 3.13% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.84% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Bridgeway Capital Management LLC boosted its stake in shares of ProFrac by 2.8% during the second quarter. Bridgeway Capital Management LLC now owns 1,199,562 shares of the company's stock valued at $9,309,000 after purchasing an additional 32,382 shares during the period. Empowered Funds LLC raised its holdings in ProFrac by 5.4% in the second quarter. Empowered Funds LLC now owns 627,062 shares of the company's stock worth $4,866,000 after purchasing an additional 32,382 shares in the last quarter. American Century Companies Inc. raised its holdings in ProFrac by 5.9% in the second quarter. American Century Companies Inc. now owns 618,194 shares of the company's stock worth $4,797,000 after purchasing an additional 34,374 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in ProFrac by 46.2% in the second quarter. Ameriprise Financial Inc. now owns 217,375 shares of the company's stock worth $1,687,000 after purchasing an additional 68,675 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in ProFrac by 41.3% in the second quarter. Bank of America Corp DE now owns 182,925 shares of the company's stock worth $1,419,000 after purchasing an additional 53,468 shares in the last quarter. Institutional investors own 12.75% of the company's stock.

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.