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

Key Points

• ProFrac Holding Corp. (NASDAQ: ACDC) has received an average rating of "Strong Sell" from five research firms, with three analysts rating it as a sell and two as hold.
• The company has a 12-month price objective of $6.50, with Bank of America setting a price target of $6.50 after downgrading the stock.
• Insider trading saw significant purchases, with Chairman Matthew Wilks acquiring 69,176 shares for a total of approximately $335,503, indicating a 22.39% increase in his ownership of the stock.

Shares of ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) have earned an average recommendation of "Strong Sell" from the five analysts that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $6.50.

A number of research analysts have issued reports on ACDC shares. Bank of America downgraded ProFrac from a "neutral" rating to an "underperform" rating and set a $6.50 price target for the company. in a report on Wednesday, June 25th. Wall Street Zen upgraded shares of ProFrac from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Piper Sandler assumed coverage on shares of ProFrac in a report on Monday, July 14th. They set a "neutral" rating and a $8.00 price target on the stock. Stifel Nicolaus cut their price objective on shares of ProFrac from $7.00 to $6.00 and set a "hold" rating for the company in a report on Tuesday, April 15th. Finally, Morgan Stanley lowered their target price on shares of ProFrac from $7.00 to $5.00 and set an "underweight" rating on the stock in a research note on Friday, May 16th.

ProFrac Stock Up 2.9%

Shares of ACDC stock traded up $0.18 on Tuesday, hitting $6.30. The stock had a trading volume of 303,652 shares, compared to its average volume of 674,275. ProFrac has a one year low of $3.83 and a one year high of $10.70. The business has a 50 day moving average price of $8.07 and a 200 day moving average price of $7.07. The company has a market cap of $1.01 billion, a PE ratio of -4.20 and a beta of 1.67. 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 (NASDAQ:ACDC - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.67) EPS 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 analysts' expectations of $532.93 million. ProFrac had a negative net margin of 10.72% and a negative return on equity of 11.85%. Research analysts anticipate that ProFrac will post -0.5 earnings per share for the current fiscal year.

Insider Transactions at ProFrac

In other ProFrac news, Chairman Matthew Wilks purchased 69,176 shares of the firm's stock in a transaction that occurred 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 purchase, the chairman directly owned 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Holdings Lp Thrc acquired 207,163 shares of the business's stock in a transaction on Friday, May 16th. The shares were purchased at an average price of $6.25 per share, with a total value of $1,294,768.75. Following the transaction, the insider owned 79,855,858 shares in the company, valued at $499,099,112.50. The trade was a 0.26% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 713,775 shares of company stock valued at $4,269,605. Insiders own 2.84% of the company's stock.

Institutional Investors Weigh In On ProFrac

A number of large investors have recently added to or reduced their stakes in ACDC. BNP Paribas Financial Markets purchased a new position in ProFrac during the fourth quarter worth $469,000. Ameriprise Financial Inc. increased its position in ProFrac by 36.2% during the 4th quarter. Ameriprise Financial Inc. now owns 148,760 shares of the company's stock worth $1,154,000 after purchasing an additional 39,560 shares in the last quarter. GAMMA Investing LLC raised its stake in ProFrac by 689.6% in the 1st quarter. GAMMA Investing LLC now owns 45,396 shares of the company's stock valued at $345,000 after purchasing an additional 39,647 shares during the last quarter. Wells Fargo & Company MN boosted 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 worth $3,313,000 after purchasing an additional 146,028 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new stake in shares of ProFrac during the fourth quarter worth about $223,000. 12.75% of the stock is owned by institutional investors and hedge funds.

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.