ProFrac (NASDAQ:ACDC) Stock Price Up 5.4% - Still a Buy?

Shares of ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) were up 5.4% on Tuesday . The stock traded as high as $10.19 and last traded at $10.34. Approximately 145,329 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 709,484 shares. The stock had previously closed at $9.81.

Wall Street Analyst Weigh In

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

ProFrac Stock Performance

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 cap of $1.67 billion, a P/E ratio of -7.37 and a beta of 1.75. The business's 50-day moving average price is $6.15 and its 200-day moving average price is $7.07.

ProFrac (NASDAQ:ACDC - Get Free Report) last issued its quarterly 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 return on equity of 3.54% and a negative net margin of 9.51%. As a group, sell-side analysts expect that ProFrac Holding Corp. will post -0.5 earnings per share for the current fiscal year.

Insider Transactions at ProFrac

In other ProFrac news, Chairman Matthew Wilks acquired 20,221 shares of the stock in a transaction dated Friday, May 9th. The shares were acquired at an average cost of $4.32 per share, for a total transaction of $87,354.72. Following the completion of the transaction, the chairman now directly owns 308,977 shares of the company's stock, valued at approximately $1,334,780.64. The trade was a 7.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Holdings Lp Thrc bought 23,584 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were acquired at an average price of $6.12 per share, with a total value of $144,334.08. Following the transaction, the insider now directly owns 79,258,442 shares of the company's stock, valued at $485,061,665.04. This represents a 0.03% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 733,996 shares of company stock valued at $4,356,960 over the last three months. Corporate insiders own 2.84% of the company's stock.

Institutional Investors Weigh In On ProFrac

Several large investors have recently made changes to their positions in ACDC. BNP Paribas Financial Markets purchased a new position in shares of ProFrac in the fourth quarter valued at $469,000. Ameriprise Financial Inc. increased its position in shares of ProFrac by 36.2% during the 4th quarter. Ameriprise Financial Inc. now owns 148,760 shares of the company's stock valued at $1,154,000 after purchasing an additional 39,560 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of ProFrac by 52.0% in the fourth quarter. Wells Fargo & Company MN now owns 426,898 shares of the company's stock valued at $3,313,000 after acquiring an additional 146,028 shares during the period. American Century Companies Inc. lifted its stake in ProFrac by 12.8% in the fourth quarter. American Century Companies Inc. now owns 528,912 shares of the company's stock worth $4,104,000 after purchasing an additional 59,908 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in ProFrac by 1,822.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,785,781 shares of the company's stock valued at $13,858,000 after acquiring an additional 1,692,908 shares during the period. 12.75% of the stock is owned by institutional investors.

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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