ProFrac (NASDAQ:ACDC) Stock Price Up 7.3% - Still a Buy?

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus cut their target price on shares of ProFrac from $7.00 to $6.00 and set a "hold" rating for the company in a report on Tuesday, April 15th. Morgan Stanley cut their target price on shares of ProFrac from $7.00 to $5.00 and set an "underweight" rating for the company in a report on Friday, May 16th. Bank of America lowered shares of ProFrac from a "neutral" rating to an "underperform" rating and set a $6.50 target price for the company. in a report on Wednesday, June 25th. Finally, Wall Street Zen raised shares of ProFrac from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, ProFrac presently has an average rating of "Hold" and a consensus price target of $6.70.

ProFrac Stock Performance

The company has a current ratio of 0.98, a quick ratio of 0.69 and a debt-to-equity ratio of 0.92. The firm has a fifty day moving average price of $7.41 and a 200 day moving average price of $7.14. The firm has a market cap of $1.28 billion, a PE ratio of -5.36 and a beta of 1.69.

ProFrac (NASDAQ:ACDC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.11) earnings per share for the quarter, beating analysts' consensus estimates 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, equities research analysts expect that ProFrac Holding Corp. will post -0.5 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On ProFrac

A number of large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in shares of ProFrac by 1,822.8% during 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 purchasing an additional 1,692,908 shares during the period. Wells Fargo & Company MN grew its stake in shares of ProFrac by 52.0% during the 4th quarter. Wells Fargo & Company MN now owns 426,898 shares of the company's stock worth $3,313,000 after purchasing an additional 146,028 shares during the period. Bridgeway Capital Management LLC grew its stake in shares of ProFrac by 10.6% during the 1st quarter. Bridgeway Capital Management LLC now owns 1,167,180 shares of the company's stock worth $8,859,000 after purchasing an additional 111,913 shares during the period. Mariner LLC grew its stake in shares of ProFrac by 184.2% during the 4th quarter. Mariner LLC now owns 146,429 shares of the company's stock worth $1,136,000 after purchasing an additional 94,902 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in shares of ProFrac during the 1st quarter worth $548,000. 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.