ProFrac (NASDAQ:ACDC) Shares Down 4.5% - Time to Sell?

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) shares fell 4.5% on Thursday . The company traded as low as $9.06 and last traded at $9.10. 203,941 shares changed hands during trading, a decline of 71% from the average session volume of 710,040 shares. The stock had previously closed at $9.53.

Analyst Ratings Changes

Several brokerages have weighed in on ACDC. Morgan Stanley decreased their price objective 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. Stifel Nicolaus dropped their price target on shares of ProFrac from $7.00 to $6.00 and set a "hold" rating on the stock in a research report on Tuesday, April 15th. Finally, Wall Street Zen raised shares of ProFrac from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $6.90.

ProFrac Stock Up 1.0%

The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.62 and a current ratio of 0.95. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -6.49 and a beta of 1.75. The firm's fifty day simple moving average is $6.04 and its 200 day simple moving average is $7.08.

ProFrac (NASDAQ:ACDC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.20. ProFrac had a negative net margin of 9.51% and a negative return on equity of 3.54%. On average, sell-side analysts forecast that ProFrac Holding Corp. will post -0.5 earnings per share for the current year.

Insider Activity at ProFrac

In other news, major shareholder Holdings Lp Thrc purchased 207,163 shares of ProFrac stock in a transaction dated Friday, May 16th. The shares were bought at an average cost of $6.25 per share, for a total transaction of $1,294,768.75. Following the completion of the acquisition, the insider now owns 79,855,858 shares in the company, valued at approximately $499,099,112.50. This trade represents a 0.26% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Matthew Wilks bought 69,176 shares of the stock in a transaction dated Monday, May 12th. The shares were purchased at an average cost of $4.85 per share, for a total transaction of $335,503.60. Following the completion of the transaction, the chairman now directly owns 378,153 shares of the company's stock, valued at $1,834,042.05. This trade represents a 22.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 733,996 shares of company stock valued at $4,356,960 over the last quarter. 2.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ProFrac

Several large investors have recently added to or reduced their stakes in ACDC. Quantinno Capital Management LP lifted its position in ProFrac by 11.3% in the fourth quarter. Quantinno Capital Management LP now owns 16,387 shares of the company's stock valued at $127,000 after purchasing an additional 1,670 shares during the last quarter. Dimensional Fund Advisors LP grew 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 buying an additional 1,860 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of ProFrac by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 591,501 shares of the company's stock worth $4,591,000 after purchasing 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 increased 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 buying 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.