ProFrac (NASDAQ:ACDC) Sets New 12-Month High - Still a Buy?

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $9.50 and last traded at $9.36, with a volume of 599149 shares trading hands. The stock had previously closed at $8.73.

Analysts Set New Price Targets

Several research firms have commented on ACDC. Morgan Stanley decreased their price target 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. Stifel Nicolaus lowered their price target on shares of ProFrac from $7.00 to $6.00 and set a "hold" rating for the company in a research note on Tuesday, April 15th. Finally, Wall Street Zen raised ProFrac from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, ProFrac currently has a consensus rating of "Hold" and an average price target of $6.90.

ProFrac Stock Performance

The company has a current ratio of 0.95, a quick ratio of 0.62 and a debt-to-equity ratio of 0.86. The business has a fifty day moving average of $5.76 and a 200-day moving average of $7.06. The company has a market cap of $1.53 billion, a PE ratio of -6.76 and a beta of 1.75.

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

Insider Buying and Selling

In other ProFrac news, major shareholder Holdings Lp Thrc purchased 207,163 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was bought at an average cost 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 in the company, valued at approximately $499,099,112.50. The trade was a 0.26% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Matthew Wilks acquired 69,176 shares of the business's stock in a transaction on Monday, May 12th. The stock was acquired at an average price of $4.85 per share, for a total transaction of $335,503.60. Following the acquisition, the chairman now owns 378,153 shares of the company's stock, valued at approximately $1,834,042.05. This trade represents a 22.39% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 733,996 shares of company stock valued at $4,356,960 over the last three months. Corporate insiders own 2.84% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets bought a new position in shares of ProFrac during the fourth quarter valued at $469,000. Ameriprise Financial Inc. increased its stake in ProFrac by 36.2% during the 4th quarter. Ameriprise Financial Inc. now owns 148,760 shares of the company's stock valued at $1,154,000 after purchasing an additional 39,560 shares in the last quarter. SG Americas Securities LLC bought a new stake in ProFrac during the 4th quarter valued at about $115,000. Wells Fargo & Company MN raised its holdings in ProFrac by 52.0% in the fourth quarter. Wells Fargo & Company MN now owns 426,898 shares of the company's stock worth $3,313,000 after buying an additional 146,028 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of ProFrac by 12.8% in the fourth quarter. American Century Companies Inc. now owns 528,912 shares of the company's stock worth $4,104,000 after buying an additional 59,908 shares in the last quarter. Hedge funds and other institutional investors own 12.75% of the company's stock.

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.