ProFrac (NASDAQ:ACDC) Trading Down 6.1% - Time to Sell?

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) shares traded down 6.1% during trading on Wednesday . The stock traded as low as $10.06 and last traded at $9.89. 323,771 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 713,288 shares. The stock had previously closed at $10.53.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wall Street Zen raised ProFrac from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Stifel Nicolaus cut their price objective on ProFrac from $7.00 to $6.00 and set a "hold" rating for the company in a report on Tuesday, April 15th. Finally, Morgan Stanley cut their price target on ProFrac from $7.00 to $5.00 and set an "underweight" rating for the company in a report on Friday, May 16th. 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $6.90.

ProFrac Stock Performance

The stock has a market cap of $1.50 billion, a P/E ratio of -6.29 and a beta of 1.75. The company has a quick ratio of 0.69, a current ratio of 0.98 and a debt-to-equity ratio of 0.92. The business has a 50 day moving average price of $6.53 and a two-hundred day moving average price of $7.12.

ProFrac (NASDAQ:ACDC - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.11) earnings per share for the quarter, topping analysts' consensus estimates of ($0.31) by $0.20. ProFrac had a negative return on equity of 11.85% and a negative net margin of 10.72%. On average, sell-side analysts forecast that ProFrac Holding Corp. will post -0.5 earnings per share for the current fiscal year.

Insider Activity at ProFrac

In other news, major shareholder Holdings Lp Thrc acquired 207,163 shares of ProFrac stock in a transaction on 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 acquisition, the insider now directly owns 79,855,858 shares of the company's stock, valued at $499,099,112.50. This trade represents a 0.26% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Matthew Wilks purchased 20,221 shares of ProFrac stock in a transaction dated Friday, May 9th. The stock was bought at an average cost of $4.32 per share, with a total value of $87,354.72. Following the completion of the transaction, the chairman now owns 308,977 shares in the company, valued at approximately $1,334,780.64. This represents a 7.00% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 733,996 shares of company stock valued at $4,356,960. Insiders own 2.84% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Quantinno Capital Management LP raised its position 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 acquiring an additional 1,670 shares in the last quarter. Dimensional Fund Advisors LP increased its position 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 increased its position 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 buying an additional 2,893 shares in the last quarter. Barclays PLC increased 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 buying 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. 12.75% of the stock is owned by institutional investors.

About ProFrac

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.