ProFrac (NASDAQ:ACDC) Hits New 12-Month High - Should You Buy?

Shares of ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $9.97 and last traded at $9.80, with a volume of 633031 shares. The stock had previously closed at $9.15.

Analysts Set New Price Targets

ACDC has been the topic of several research reports. Wall Street Zen upgraded shares of ProFrac from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Morgan Stanley lowered their price target 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, Stifel Nicolaus cut 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. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $6.90.

ProFrac Trading Down 8.6%

The firm's 50-day simple moving average is $6.34 and its 200-day simple moving average is $7.11. The firm has a market capitalization of $1.54 billion, a PE ratio of -6.46 and a beta of 1.75. 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 issued its earnings results on Wednesday, May 7th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.20. ProFrac had a negative return on equity of 11.85% and a negative net margin of 10.72%. Equities analysts expect that ProFrac Holding Corp. will post -0.5 earnings per share for the current year.

Insider Buying and Selling

In other news, Chairman Matthew Wilks bought 20,221 shares of the company's stock in a transaction dated Friday, May 9th. The stock was bought at an average cost of $4.32 per share, for a total transaction of $87,354.72. Following the completion of the acquisition, the chairman now owns 308,977 shares in the company, valued at approximately $1,334,780.64. This trade represents a 7.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Holdings Lp Thrc purchased 23,599 shares of the stock in a transaction on Monday, May 12th. The shares were acquired 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 $384,285,530.50. The trade was a 0.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 733,996 shares of company stock valued at $4,356,960 over the last three months. 2.84% of the stock is owned by company insiders.

Institutional Trading of ProFrac

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its stake in shares of ProFrac by 1,822.8% during the 4th 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 in the last quarter. Wells Fargo & Company MN raised its position in shares of ProFrac by 52.0% in the 4th quarter. Wells Fargo & Company MN now owns 426,898 shares of the company's stock worth $3,313,000 after acquiring an additional 146,028 shares in the last quarter. Bridgeway Capital Management LLC raised its position in shares of ProFrac by 10.6% in 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 in the last quarter. Mariner LLC lifted its stake in shares of ProFrac by 184.2% in the 4th 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 during the period. Finally, GSA Capital Partners LLP bought a new stake in shares of ProFrac during the first quarter valued at approximately $548,000. 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.