ProFrac (NASDAQ:ACDC) Shares Down 4.2% - What's Next?

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report)'s share price was down 4.2% during mid-day trading on Tuesday . The stock traded as low as $7.84 and last traded at $7.91. Approximately 291,331 shares changed hands during trading, a decline of 59% from the average daily volume of 716,756 shares. The stock had previously closed at $8.25.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus dropped their price target on ProFrac from $7.00 to $6.00 and set a "hold" rating for the company in a report on Tuesday, April 15th. Wall Street Zen upgraded shares of ProFrac from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Morgan Stanley decreased their target price on ProFrac from $7.00 to $5.00 and set an "underweight" rating for the company in a research report on Friday, May 16th. 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 stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $6.90.

ProFrac Stock Down 1.8%

The company has a quick ratio of 0.69, a current ratio of 0.98 and a debt-to-equity ratio of 0.92. The stock has a fifty day moving average price of $6.60 and a two-hundred day moving average price of $7.11. The company has a market cap of $1.30 billion, a price-to-earnings ratio of -5.42 and a beta of 1.74.

ProFrac (NASDAQ:ACDC - Get Free Report) last announced its quarterly earnings data 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 net margin of 10.72% and a negative return on equity of 11.85%. As a group, sell-side analysts expect that ProFrac Holding Corp. will post -0.5 EPS for the current year.

Insider Activity at ProFrac

In other ProFrac news, Chairman Matthew Wilks purchased 20,221 shares of the firm's stock in a transaction on Friday, May 9th. The stock was acquired at an average price of $4.32 per share, for a total transaction of $87,354.72. Following the purchase, the chairman now owns 308,977 shares of the company's stock, valued at $1,334,780.64. This trade represents a 7.00% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Holdings Lp Thrc bought 23,599 shares of ProFrac stock in a transaction dated Monday, May 12th. The stock was purchased at an average price of $4.85 per share, with a total value of $114,455.15. Following the purchase, the insider now owns 79,234,130 shares in the company, valued at approximately $384,285,530.50. This represents a 0.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 733,996 shares of company stock worth $4,356,960 over the last ninety days. Insiders own 2.84% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new stake in shares of ProFrac in the 4th quarter worth approximately $469,000. Ameriprise Financial Inc. raised its stake in ProFrac by 36.2% in the fourth quarter. Ameriprise Financial Inc. now owns 148,760 shares of the company's stock worth $1,154,000 after buying an additional 39,560 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. American Century Companies Inc. raised its holdings in 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 purchasing an additional 59,908 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of ProFrac by 1,822.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,785,781 shares of the company's stock worth $13,858,000 after acquiring an additional 1,692,908 shares in the last quarter. 12.75% of the stock is owned by institutional investors.

About ProFrac

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.

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