ProFrac (NASDAQ:ACDC) Trading 7.3% Higher - Time to Buy?

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) traded up 7.3% during trading on Tuesday . The stock traded as high as $7.65 and last traded at $7.89. 58,141 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 724,064 shares. The stock had previously closed at $7.35.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Morgan Stanley decreased their price objective on ProFrac from $7.00 to $5.00 and set an "underweight" rating on the stock in a research note on Friday, May 16th. Stifel Nicolaus decreased their target price on ProFrac from $7.00 to $6.00 and set a "hold" rating on the stock in a research note on Tuesday, April 15th. Bank of America downgraded ProFrac from a "neutral" rating to an "underperform" rating and set a $6.50 target price on the stock. in a research note on Wednesday, June 25th. Finally, Wall Street Zen raised ProFrac from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Three 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.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $6.70.

ProFrac Price Performance

The firm has a market cap of $1.20 billion, a PE ratio of -5.05 and a beta of 1.69. The firm has a fifty day simple moving average of $7.28 and a two-hundred day simple moving average of $7.13. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.69 and a current ratio of 0.98.

ProFrac (NASDAQ:ACDC - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.11) earnings per share 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%. Equities analysts predict that ProFrac Holding Corp. will post -0.5 EPS for the current fiscal year.

Insider Activity at ProFrac

In related news, major shareholder Holdings Lp Thrc bought 390,253 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was purchased at an average price of $6.10 per share, for a total transaction of $2,380,543.30. Following the acquisition, the insider owned 79,648,695 shares in the company, valued at $485,857,039.50. This trade represents a 0.49% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Matthew Wilks bought 69,176 shares of the company's stock in a transaction dated Monday, May 12th. The stock was bought at an average price of $4.85 per share, with a total value of $335,503.60. Following the acquisition, the chairman owned 378,153 shares in the company, valued at approximately $1,834,042.05. This trade represents a 22.39% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 733,996 shares of company stock valued at $4,356,960 in the last 90 days. 2.84% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ProFrac

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quantinno Capital Management LP boosted its holdings in shares of ProFrac by 11.3% in the 4th quarter. Quantinno Capital Management LP now owns 16,387 shares of the company's stock worth $127,000 after purchasing an additional 1,670 shares during the period. Dimensional Fund Advisors LP boosted its holdings in ProFrac by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 90,939 shares of the company's stock valued at $706,000 after acquiring an additional 1,860 shares during the period. Geode Capital Management LLC boosted its holdings in ProFrac by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 591,501 shares of the company's stock valued at $4,591,000 after acquiring an additional 2,893 shares during the period. Barclays PLC raised its position in ProFrac by 14.4% during the 4th quarter. Barclays PLC now owns 33,409 shares of the company's stock valued at $259,000 after purchasing an additional 4,194 shares in the last quarter. Finally, Deutsche Bank AG raised its position in ProFrac by 64.7% during the 1st quarter. Deutsche Bank AG now owns 14,680 shares of the company's stock valued at $111,000 after purchasing an additional 5,767 shares in the last quarter. Hedge funds and other institutional investors own 12.75% of the company's stock.

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.