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

Shares of ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) have been given a consensus rating of "Reduce" by the five ratings firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $6.90.

A number of brokerages have recently issued reports on ACDC. Morgan Stanley dropped their price objective on ProFrac from $7.00 to $5.00 and set an "underweight" rating on the stock in a research report on Friday, May 16th. Stifel Nicolaus decreased their target price on ProFrac from $7.00 to $6.00 and set a "hold" rating for the company in a research report on Tuesday, April 15th. Finally, Wall Street Zen raised shares of ProFrac from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd.

ProFrac Stock Down 8.6%

ACDC stock traded down $0.91 during trading on Monday, hitting $9.62. 1,173,026 shares of the stock traded hands, compared to its average volume of 716,375. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of -6.46 and a beta of 1.75. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.98 and a quick ratio of 0.69. ProFrac has a 1 year low of $3.83 and a 1 year high of $10.70. The firm's 50 day moving average is $6.34 and its two-hundred day moving average is $7.11.

ProFrac (NASDAQ:ACDC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.11) EPS for the quarter, beating 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%. On average, sell-side analysts anticipate that ProFrac will post -0.5 EPS for the current year.

Insider Buying and Selling at ProFrac

In other ProFrac news, major shareholder Holdings Lp Thrc purchased 207,163 shares of ProFrac stock in a transaction dated Friday, May 16th. The stock was purchased at an average price of $6.25 per share, with a total value of $1,294,768.75. Following the transaction, the insider now directly owns 79,855,858 shares of the company's stock, valued at $499,099,112.50. This trade represents a 0.26% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Matthew Wilks bought 69,176 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average price of $4.85 per share, with a total value of $335,503.60. Following the completion of the transaction, the chairman now directly owns 378,153 shares of the company's stock, 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 90 days, insiders have bought 733,996 shares of company stock valued at $4,356,960. 2.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On ProFrac

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its holdings in ProFrac by 1,822.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,785,781 shares of the company's stock valued at $13,858,000 after purchasing an additional 1,692,908 shares during the period. Wells Fargo & Company MN grew its stake in shares of ProFrac by 52.0% during the 4th quarter. Wells Fargo & Company MN now owns 426,898 shares of the company's stock valued at $3,313,000 after acquiring an additional 146,028 shares during the period. Bridgeway Capital Management LLC raised its stake in ProFrac by 10.6% during the 1st quarter. Bridgeway Capital Management LLC now owns 1,167,180 shares of the company's stock worth $8,859,000 after acquiring an additional 111,913 shares during the period. Mariner LLC lifted its holdings in ProFrac by 184.2% during the fourth quarter. Mariner LLC now owns 146,429 shares of the company's stock valued at $1,136,000 after purchasing an additional 94,902 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of ProFrac in the first quarter worth approximately $548,000. 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.