ProFrac (NASDAQ:ACDC) Stock Price Up 10.7% - Time to Buy?

Key Points

• ProFrac shares rose 10.7% to $4.78, though trading volume was 92% below the average session level.
• Analyst sentiment remains cautious: the stock has an average “Reduce” rating and a $5.50 price target, with ratings split between one Buy, two Holds, and two Sells.
• ProFrac reported a quarterly EPS loss of $0.47, missing expectations by $0.10, while revenue exceeded forecasts; the company continues to post negative margins and return on equity.

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) shares were up 10.7% on Monday . The stock traded as high as $4.70 and last traded at $4.7840. 111,955 shares traded hands during trading, a decline of 92% from the average session volume of 1,415,798 shares. The stock had previously closed at $4.32.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ACDC shares. Wall Street Zen cut ProFrac from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Morgan Stanley set a $5.00 target price on ProFrac in a report on Wednesday, July 15th. Piper Sandler lifted their price target on ProFrac from $5.00 to $6.00 and gave the company a "neutral" rating in a research report on Monday, May 18th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of ProFrac in a report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average price target of $5.50.

ProFrac Price Performance

The company has a current ratio of 0.84, a quick ratio of 0.59 and a debt-to-equity ratio of 1.42. The stock has a 50-day moving average price of $5.49 and a 200 day moving average price of $5.90. The stock has a market capitalization of $907.31 million, a price-to-earnings ratio of -2.15 and a beta of 1.46.

ProFrac (NASDAQ:ACDC - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.10). The business had revenue of $449.60 million for the quarter, compared to analysts' expectations of $426.39 million. ProFrac had a negative return on equity of 45.18% and a negative net margin of 22.83%. As a group, equities research analysts expect that ProFrac Holding Corp. will post -1.16 earnings per share for the current year.

Institutional Investors Weigh In On ProFrac

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its holdings in ProFrac by 7,241.7% during the second quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company's stock valued at $27,000 after purchasing an additional 3,476 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of ProFrac during the 2nd quarter worth about $29,000. BNP Paribas Financial Markets raised its position in shares of ProFrac by 389.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,122 shares of the company's stock worth $48,000 after purchasing an additional 4,871 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in ProFrac by 822.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,234 shares of the company's stock valued at $87,000 after buying an additional 10,016 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD purchased a new position in ProFrac in the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 12.75% of the company's stock.

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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.

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