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

Shares of ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) have received an average recommendation of "Reduce" from the five analysts that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $6.90.

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

ProFrac Trading Down 2.8%

Shares of ACDC stock traded down $0.19 on Thursday, reaching $6.48. 963,839 shares of the stock were exchanged, compared to its average volume of 700,772. The stock has a market cap of $1.04 billion, a P/E ratio of -4.60 and a beta of 1.14. The company has a quick ratio of 0.62, a current ratio of 0.95 and a debt-to-equity ratio of 0.86. The firm has a 50 day moving average of $5.70 and a two-hundred day moving average of $6.98. ProFrac has a 1-year low of $3.83 and a 1-year high of $9.75.

ProFrac (NASDAQ:ACDC - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.31) by $0.20. ProFrac had a negative return on equity of 3.54% and a negative net margin of 9.51%. On average, research analysts anticipate that ProFrac will post -0.5 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Holdings Lp Thrc acquired 23,599 shares of the firm's stock in a transaction on Monday, May 12th. The stock was bought at an average cost of $4.85 per share, with a total value of $114,455.15. Following the transaction, the insider now directly owns 79,234,130 shares in the company, valued at approximately $384,285,530.50. This represents a 0.03% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Farris Wilks acquired 338,756 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was purchased at an average cost of $6.93 per share, with a total value of $2,347,579.08. Following the completion of the transaction, the insider now owns 1,316,534 shares in the company, valued at $9,123,580.62. The trade was a 34.65% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 1,072,752 shares of company stock valued at $6,704,539. Company insiders own 2.84% of the company's stock.

Hedge Funds Weigh In On ProFrac

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantinno Capital Management LP boosted its position in ProFrac by 11.3% in the 4th quarter. Quantinno Capital Management LP now owns 16,387 shares of the company's stock valued at $127,000 after buying an additional 1,670 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in ProFrac by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 90,939 shares of the company's stock valued at $706,000 after buying an additional 1,860 shares during the last quarter. Geode Capital Management LLC boosted its position in ProFrac by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 591,501 shares of the company's stock valued at $4,591,000 after buying an additional 2,893 shares during the last quarter. Barclays PLC boosted its position in ProFrac by 14.4% in the 4th quarter. Barclays PLC now owns 33,409 shares of the company's stock valued at $259,000 after buying an additional 4,194 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in ProFrac by 64.7% in the 1st quarter. Deutsche Bank AG now owns 14,680 shares of the company's stock valued at $111,000 after buying an additional 5,767 shares during the last quarter. 12.75% of the stock is owned by hedge funds and other institutional investors.

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.