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

Key Points

• ProFrac shares fell 3.2%, opening at $4.09 versus the prior close of $4.26 before trading near $4.22.
• Analyst sentiment remains cautious: the stock carries an average “Reduce” rating, with one Buy, two Hold, and two Sell ratings; the average price target is $5.50.
• ProFrac reported a quarterly loss of $0.47 per share, missing estimates by $0.10, although revenue of $449.6 million exceeded expectations. The company also posted negative margins and return on equity.

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $4.26, but opened at $4.09. ProFrac shares last traded at $4.22, with a volume of 89,605 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently commented on ACDC shares. Weiss Ratings restated a "sell (d-)" rating on shares of ProFrac in a research report on Wednesday, June 24th. Wall Street Zen downgraded ProFrac from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Piper Sandler boosted their price objective on ProFrac from $5.00 to $6.00 and gave the stock a "neutral" rating in a research note on Monday, May 18th. Finally, Morgan Stanley set a $5.00 target price on ProFrac in a report on Wednesday, July 15th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $5.50.

ProFrac Stock Down 3.2%

The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.82. The stock has a market cap of $746.29 million, a price-to-earnings ratio of -1.62 and a beta of 1.42. The firm's 50-day simple moving average is $6.11 and its two-hundred day simple moving average is $5.91.

ProFrac (NASDAQ:ACDC - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.10). ProFrac had a negative return on equity of 44.39% and a negative net margin of 24.25%.The company had revenue of $449.60 million for the quarter, compared to analyst estimates of $426.39 million. On average, sell-side analysts expect that ProFrac Holding Corp. will post -1.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Walleye Capital LLC boosted its position in ProFrac by 3.6% in the 4th quarter. Walleye Capital LLC now owns 81,169 shares of the company's stock valued at $316,000 after buying an additional 2,785 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of ProFrac by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 427,063 shares of the company's stock valued at $1,580,000 after buying an additional 3,003 shares during the period. Dimensional Fund Advisors LP raised its position in shares of ProFrac by 3.5% during the third quarter. Dimensional Fund Advisors LP now owns 96,957 shares of the company's stock worth $359,000 after acquiring an additional 3,318 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of ProFrac by 7,241.7% during the second quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company's stock worth $27,000 after acquiring an additional 3,476 shares during the last quarter. Finally, Intech Investment Management LLC lifted its stake in shares of ProFrac by 27.2% during the third quarter. Intech Investment Management LLC now owns 16,434 shares of the company's stock valued at $61,000 after acquiring an additional 3,514 shares during the period. Institutional investors and hedge funds own 12.75% of the company's stock.

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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.

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