Shares of ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) dropped 4.2% on Tuesday . The company traded as low as $7.84 and last traded at $7.91. Approximately 291,331 shares were traded during trading, a decline of 59% from the average daily volume of 716,756 shares. The stock had previously closed at $8.25.
Wall Street Analyst Weigh In
A number of research analysts have commented on ACDC shares. Stifel Nicolaus decreased their price objective on ProFrac from $7.00 to $6.00 and set a "hold" rating on the stock in a report on Tuesday, April 15th. Morgan Stanley lowered their target price on ProFrac from $7.00 to $5.00 and set an "underweight" rating for the company in a research note on Friday, May 16th. Wall Street Zen upgraded shares of ProFrac from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Bank of America lowered shares of ProFrac from a "neutral" rating to an "underperform" rating and set a $6.50 target price on the stock. in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $6.70.
Check Out Our Latest Report on ProFrac
ProFrac Stock Performance
The company's 50-day simple moving average is $6.81 and its 200-day simple moving average is $7.13. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -5.43 and a beta of 1.75. The company has a current ratio of 0.98, a quick ratio of 0.69 and a debt-to-equity ratio of 0.92.
ProFrac (NASDAQ:ACDC - Get Free Report) last announced 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 return on equity of 11.85% and a negative net margin of 10.72%. On average, analysts expect that ProFrac Holding Corp. will post -0.5 EPS for the current year.
Insiders Place Their Bets
In related news, Chairman Matthew Wilks purchased 20,221 shares of the firm's stock in a transaction on Friday, May 9th. The stock was purchased at an average cost of $4.32 per share, with a total value of $87,354.72. Following the completion of the purchase, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Holdings Lp Thrc purchased 23,584 shares of ProFrac stock in a transaction that occurred on Wednesday, May 14th. The stock was acquired at an average cost of $6.12 per share, with a total value of $144,334.08. Following the transaction, the insider now owns 79,258,442 shares in the company, valued at $485,061,665.04. This trade represents a 0.03% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 733,996 shares of company stock worth $4,356,960. 2.84% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of ACDC. Quantinno Capital Management LP lifted its stake in ProFrac by 11.3% during the 4th quarter. Quantinno Capital Management LP now owns 16,387 shares of the company's stock valued at $127,000 after acquiring an additional 1,670 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of ProFrac by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 90,939 shares of the company's stock valued at $706,000 after purchasing an additional 1,860 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of ProFrac by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 591,501 shares of the company's stock valued at $4,591,000 after purchasing an additional 2,893 shares in the last quarter. Barclays PLC boosted its holdings in ProFrac by 14.4% during the fourth quarter. Barclays PLC now owns 33,409 shares of the company's stock worth $259,000 after purchasing an additional 4,194 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in ProFrac by 64.7% during the first quarter. Deutsche Bank AG now owns 14,680 shares of the company's stock worth $111,000 after purchasing an additional 5,767 shares during the last quarter. Institutional investors own 12.75% of the company's stock.
About ProFrac
(
Get Free Report)
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.
Further Reading
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