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

Key Points

• ProFrac Holding Corp. has been rated a consensus "Strong Sell" by seven research firms, with four analysts recommending a sell and three a hold on the stock.
• The company recently saw major insider buying, with a shareholder purchasing 2.5 million shares at an average price of $4.00, leading to an overall ownership increase of 3.13%.
• ProFrac reported a loss of ($0.67) EPS for the last quarter, missing analysts' expectations, while revenue fell short at $501.90 million against a projected $532.93 million.

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) has earned a consensus recommendation of "Strong Sell" from the seven research firms that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $5.80.

A number of research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ProFrac in a research report on Wednesday, October 8th. Zacks Research raised shares of ProFrac from a "strong sell" rating to a "hold" rating in a research report on Monday, October 6th. Piper Sandler dropped their target price on shares of ProFrac from $6.00 to $5.00 and set a "neutral" rating on the stock in a research report on Thursday. Wall Street Zen downgraded shares of ProFrac from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, Bank of America downgraded shares of 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.

Insider Activity at ProFrac

In related news, major shareholder Holdings Lp Thrc bought 2,500,000 shares of the company's stock in a transaction 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 transaction, the insider owned 82,389,657 shares in the company, valued at approximately $329,558,628. This trade represents a 3.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Matthew Wilks bought 43,297 shares of the company's stock in a transaction on Monday, September 8th. The shares were bought at an average cost of $3.80 per share, for a total transaction of $164,528.60. Following the transaction, the chairman owned 422,097 shares in the company, valued at $1,603,968.60. The trade was a 11.43% increase in their position. The disclosure for this purchase can be found here. 2.84% of the stock is currently owned by insiders.

Institutional Trading of ProFrac

Institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its stake in ProFrac by 7,241.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company's stock valued at $27,000 after acquiring an additional 3,476 shares during the period. Farther Finance Advisors LLC acquired a new stake in ProFrac during the 2nd quarter valued at approximately $29,000. Raymond James Financial Inc. acquired a new stake in ProFrac during the 2nd quarter valued at approximately $29,000. BNP Paribas Financial Markets lifted its stake in ProFrac by 389.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,122 shares of the company's stock valued at $48,000 after acquiring an additional 4,871 shares during the period. Finally, Exchange Traded Concepts LLC lifted its stake in ProFrac by 1,258.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 10,164 shares of the company's stock valued at $77,000 after acquiring an additional 9,416 shares during the period. 12.75% of the stock is currently owned by institutional investors and hedge funds.

ProFrac Stock Down 2.1%

Shares of ProFrac stock opened at $3.65 on Friday. The firm's 50 day moving average price is $3.94 and its 200-day moving average price is $5.79. The company has a quick ratio of 0.62, a current ratio of 0.91 and a debt-to-equity ratio of 1.00. ProFrac has a 52-week low of $3.43 and a 52-week high of $10.70. The company has a market cap of $660.18 million, a P/E ratio of -2.10 and a beta of 1.61.

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

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.

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