ProFrac Holding Corp. (NASDAQ:ACDC) Receives Average Recommendation of "Reduce" from Brokerages

Shares of ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) have received an average rating of "Reduce" from the five research firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $6.90.

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

Insider Activity at ProFrac

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 now owns 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 purchased 69,176 shares of the business's stock in a transaction on Monday, May 12th. The stock was purchased at an average cost of $4.85 per share, with a total value of $335,503.60. Following the completion of the acquisition, the chairman now owns 378,153 shares in the company, valued at approximately $1,834,042.05. This trade represents a 22.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 733,996 shares of company stock worth $4,356,960. 2.84% of the stock is owned by company insiders.

Institutional Trading of ProFrac

A number of hedge funds have recently bought and sold shares of the company. AlphaQuest LLC purchased a new stake in shares of ProFrac during the fourth quarter valued at approximately $66,000. Exchange Traded Concepts LLC grew its stake in shares of ProFrac by 1,258.8% in the first 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 valued at approximately $85,000. Walleye Capital LLC purchased a new position in shares of ProFrac during the first quarter valued at approximately $97,000. Finally, Deutsche Bank AG lifted its position in ProFrac by 64.7% during the first quarter. Deutsche Bank AG now owns 14,680 shares of the company's stock valued at $111,000 after purchasing an additional 5,767 shares during the period. Institutional investors own 12.75% of the company's stock.

ProFrac Trading Up 7.3%

ACDC stock traded up $0.72 during midday trading on Monday, reaching $10.53. The stock had a trading volume of 1,527,761 shares, compared to its average volume of 714,927. ProFrac has a twelve month low of $3.83 and a twelve month high of $10.57. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.98 and a quick ratio of 0.69. The business has a fifty day simple moving average of $6.15 and a two-hundred day simple moving average of $7.07.

ProFrac (NASDAQ:ACDC - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.20. ProFrac had a negative net margin of 10.72% and a negative return on equity of 11.85%. As a group, sell-side analysts predict that ProFrac will post -0.5 earnings per share for the current fiscal year.

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.