ProFrac (NASDAQ:ACDC) Shares Up 5.1% - Should You Buy?

Key Points

• ProFrac shares rose 5.1% on Monday, trading as high as $5.12 before closing at $5.17, though volume was well below average.
• Analyst sentiment remains cautious: the stock has an average rating of "Reduce" with a consensus target price of $6.00, and recent calls included underweight, neutral, and sell ratings.
• Recent results were mixed, as ProFrac missed EPS estimates with a loss of $0.47 per share, but revenue topped forecasts at $449.6 million.

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) shares rose 5.1% on Monday . The stock traded as high as $5.12 and last traded at $5.17. 309,030 shares changed hands during trading, a decline of 77% from the average session volume of 1,361,687 shares. The stock had previously closed at $4.92.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ACDC shares. Morgan Stanley raised their target price on shares of ProFrac from $5.00 to $6.00 and gave the stock an "underweight" rating in a report on Wednesday, April 15th. Wall Street Zen cut ProFrac from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ProFrac in a report on Wednesday, June 24th. Finally, Piper Sandler increased their target price on ProFrac from $5.00 to $6.00 and gave the company a "neutral" rating in a report on Monday, May 18th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $6.00.

ProFrac Stock Up 3.6%

The company has a debt-to-equity ratio of 1.27, a current ratio of 0.82 and a quick ratio of 0.58. The firm has a market capitalization of $921.79 million, a P/E ratio of -2.01 and a beta of 1.42. The company's 50-day simple moving average is $6.55 and its two-hundred day simple moving average is $5.84.

ProFrac (NASDAQ:ACDC - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $449.60 million for the quarter, compared to the consensus estimate of $426.39 million. ProFrac had a negative net margin of 24.25% and a negative return on equity of 44.39%. As a group, research analysts expect that ProFrac Holding Corp. will post -1.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its holdings in ProFrac by 186.9% in the 1st quarter. Bank of America Corp DE now owns 175,664 shares of the company's stock worth $1,089,000 after acquiring an additional 114,429 shares in the last quarter. Quantinno Capital Management LP raised its position in shares of ProFrac by 94.4% during the 1st quarter. Quantinno Capital Management LP now owns 48,072 shares of the company's stock valued at $298,000 after purchasing an additional 23,347 shares during the period. Renaissance Technologies LLC bought a new stake in shares of ProFrac during the 1st quarter valued at $872,000. Sei Investments Co. lifted its stake in shares of ProFrac by 91.6% during the 1st quarter. Sei Investments Co. now owns 99,986 shares of the company's stock valued at $620,000 after buying an additional 47,800 shares in the last quarter. Finally, Walleye Capital LLC lifted its stake in shares of ProFrac by 328.6% during the 1st quarter. Walleye Capital LLC now owns 347,911 shares of the company's stock valued at $2,157,000 after buying an additional 266,742 shares in the last quarter. 12.75% of the stock is owned by hedge funds and other institutional investors.

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

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