ProFrac (NASDAQ:ACDC) Shares Down 5.7% - What's Next?

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report)'s stock price fell 5.7% on Monday . The company traded as low as $4.62 and last traded at $4.61. 19,247 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 713,205 shares. The stock had previously closed at $4.89.

Analyst Ratings Changes

Separately, Stifel Nicolaus decreased their price objective 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. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, ProFrac has a consensus rating of "Hold" and an average price target of $7.20.

ProFrac Trading Up 10.8 %

The company has a debt-to-equity ratio of 0.86, a current ratio of 0.95 and a quick ratio of 0.62. The stock has a market capitalization of $704.78 million, a price-to-earnings ratio of -3.12 and a beta of 1.14. The business has a fifty day moving average of $5.89 and a 200-day moving average of $6.98.

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

Insider Activity

In other news, major shareholder Farris Wilks acquired 338,756 shares of ProFrac stock in a transaction on Wednesday, February 26th. The stock was bought at an average cost of $6.93 per share, with a total value of $2,347,579.08. Following the completion of the purchase, the insider now owns 1,316,534 shares of the company's stock, valued at $9,123,580.62. This represents a 34.65 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.93% of the company's stock.

Institutional Investors Weigh In On ProFrac

A number of large investors have recently made changes to their positions in ACDC. Barclays PLC grew its position in ProFrac by 213.6% during the 3rd quarter. Barclays PLC now owns 29,215 shares of the company's stock worth $199,000 after purchasing an additional 19,898 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of ProFrac by 110.7% in the fourth quarter. GAMMA Investing LLC now owns 5,749 shares of the company's stock worth $45,000 after buying an additional 3,021 shares during the period. Fortitude Family Office LLC purchased a new position in shares of ProFrac during the fourth quarter valued at $57,000. Hennessy Advisors Inc. raised its position in ProFrac by 50.0% during the fourth quarter. Hennessy Advisors Inc. now owns 30,000 shares of the company's stock valued at $233,000 after buying an additional 10,000 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in ProFrac in the 4th quarter worth about $115,000. Institutional investors and hedge funds 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.