ProFrac (NASDAQ:ACDC) Shares Up 7.2% - Here's What Happened

Key Points

• Shares rose 7.2% intraday to as high as $6.49 (last $6.475), on 742,796 shares traded—about a 43% drop from the average session volume.
• Analyst sentiment is mixed with a consensus rating of "Reduce" and an average price target of $5.83 (one Buy, two Hold, three Sell); notable moves include Morgan Stanley raising its price target to $6 while keeping an "underweight" rating.
• ProFrac reported a revenue beat of $436.5M versus $402.95M expected but missed on EPS (‑$0.51 vs. ‑$0.44), and the company remains unprofitable with negative margins and ROE; analysts expect about ‑$1.30 EPS for the year.

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report)'s share price traded up 7.2% during mid-day trading on Tuesday . The company traded as high as $6.49 and last traded at $6.4750. 742,796 shares traded hands during trading, a decline of 43% from the average session volume of 1,313,222 shares. The stock had previously closed at $6.04.

Analyst Ratings Changes

ACDC has been the topic of a number of research reports. Zacks Research upgraded ProFrac from a "strong sell" rating to a "hold" rating in a research note on Wednesday, January 21st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ProFrac in a research note on Friday, March 27th. Wall Street Zen raised ProFrac from a "sell" rating to a "hold" rating in a research report on Saturday, April 4th. UBS Group reiterated a "positive" rating on shares of ProFrac in a report on Thursday, March 12th. Finally, Morgan Stanley lifted their price objective on ProFrac from $5.00 to $6.00 and gave the company an "underweight" rating in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $5.83.

ProFrac Stock Performance

The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -2.95 and a beta of 1.44. The firm has a fifty day moving average of $5.86 and a 200 day moving average of $4.83. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.81 and a quick ratio of 0.56.

ProFrac (NASDAQ:ACDC - Get Free Report) last issued its quarterly earnings data on Thursday, March 12th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.07). ProFrac had a negative net margin of 18.97% and a negative return on equity of 33.18%. The business had revenue of $436.50 million during the quarter, compared to analyst estimates of $402.95 million. On average, sell-side analysts anticipate that ProFrac Holding Corp. will post -1.3 earnings per share for the current fiscal year.

Institutional Trading of ProFrac

A number of institutional investors have recently bought and sold shares of ACDC. First Financial Bankshares Inc boosted its position in shares of ProFrac by 30.1% in the 3rd quarter. First Financial Bankshares Inc now owns 4,204,795 shares of the company's stock valued at $15,558,000 after purchasing an additional 973,062 shares during the period. AQR Capital Management LLC boosted its holdings in shares of ProFrac by 61.7% during the fourth quarter. AQR Capital Management LLC now owns 1,638,822 shares of the company's stock worth $6,375,000 after purchasing an additional 625,596 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of ProFrac by 27.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,484,760 shares of the company's stock worth $5,494,000 after purchasing an additional 322,860 shares during the last quarter. Bridgeway Capital Management LLC raised its position in shares of ProFrac by 2.8% in the 2nd quarter. Bridgeway Capital Management LLC now owns 1,199,562 shares of the company's stock worth $9,309,000 after buying an additional 32,382 shares during the period. Finally, Wells Fargo & Company MN raised its position in ProFrac by 12.1% in the fourth quarter. Wells Fargo & Company MN now owns 1,088,687 shares of the company's stock valued at $4,235,000 after purchasing an additional 117,608 shares during the period. 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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