ProFrac (NASDAQ:ACDC) Stock Price Down 6.1% - Here's Why

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Morgan Stanley lowered their price target on ProFrac from $7.00 to $5.00 and set an "underweight" rating for the company in a research report on Friday, May 16th. Wall Street Zen raised ProFrac from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Stifel Nicolaus lowered their price target on ProFrac from $7.00 to $6.00 and set a "hold" rating for the company in a research report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, ProFrac presently has an average rating of "Hold" and an average target price of $6.90.

ProFrac Price Performance

The company has a debt-to-equity ratio of 0.92, a current ratio of 0.98 and a quick ratio of 0.69. The stock has a fifty day moving average price of $6.25 and a 200-day moving average price of $7.09. The company has a market cap of $1.56 billion, a PE ratio of -6.59 and a beta of 1.75.

ProFrac (NASDAQ:ACDC - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.20. ProFrac had a negative net margin of 10.72% and a negative return on equity of 11.85%. On average, equities analysts expect that ProFrac Holding Corp. will post -0.5 earnings per share for the current year.

Insider Activity

In related news, Chairman Matthew Wilks bought 69,176 shares of ProFrac stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average price of $4.85 per share, for a total transaction of $335,503.60. Following the completion of the purchase, the chairman now owns 378,153 shares in the company, valued at approximately $1,834,042.05. This represents a 22.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Holdings Lp Thrc acquired 23,599 shares of the firm's stock in a transaction on Monday, May 12th. The shares were bought at an average cost of $4.85 per share, for a total transaction of $114,455.15. Following the completion of the acquisition, the insider now directly owns 79,234,130 shares of the company's stock, valued at approximately $384,285,530.50. This represents a 0.03% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 733,996 shares of company stock valued at $4,356,960. 2.84% of the stock is owned by insiders.

Institutional Investors Weigh In On ProFrac

A number of institutional investors have recently added to or reduced their stakes in the stock. Quantinno Capital Management LP boosted its holdings in ProFrac by 11.3% during 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 in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of ProFrac by 2.1% in the fourth 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 last quarter. Geode Capital Management LLC raised its stake in shares of ProFrac by 0.5% in the fourth 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 last quarter. Barclays PLC raised its stake in shares of ProFrac by 14.4% in the fourth quarter. Barclays PLC now owns 33,409 shares of the company's stock valued at $259,000 after acquiring an additional 4,194 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in shares of ProFrac by 64.7% in the first quarter. Deutsche Bank AG now owns 14,680 shares of the company's stock valued at $111,000 after acquiring an additional 5,767 shares during the last quarter. 12.75% of the stock is owned by institutional investors and hedge funds.

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.

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