ProFrac (NASDAQ:ACDC) Stock Price Up 7.9% - Should You Buy?

Shares of ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) rose 7.9% during trading on Thursday . The stock traded as high as $8.32 and last traded at $8.42. Approximately 186,065 shares traded hands during trading, a decline of 74% from the average daily volume of 702,279 shares. The stock had previously closed at $7.80.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ACDC shares. Stifel Nicolaus lowered their price objective 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 lowered 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. Finally, Wall Street Zen raised 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 given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $6.90.

ProFrac Price Performance

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 firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -6.25 and a beta of 1.75. The stock has a 50 day moving average price of $5.68 and a two-hundred day moving average price of $7.03.

ProFrac (NASDAQ:ACDC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.11) earnings per share (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%. As a group, analysts expect that ProFrac Holding Corp. will post -0.5 EPS for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On ProFrac

A number of institutional investors and hedge funds have recently made changes to their positions in ACDC. BNP Paribas Financial Markets purchased a new position in ProFrac in the fourth quarter worth approximately $469,000. SG Americas Securities LLC acquired a new stake in shares of ProFrac in the 4th quarter valued at $115,000. Wells Fargo & Company MN lifted its position in shares of ProFrac by 52.0% during the 4th quarter. Wells Fargo & Company MN now owns 426,898 shares of the company's stock worth $3,313,000 after purchasing an additional 146,028 shares during the last quarter. American Century Companies Inc. grew its stake in shares of ProFrac by 12.8% during 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 in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in ProFrac by 36.2% in the fourth quarter. Ameriprise Financial Inc. now owns 148,760 shares of the company's stock valued at $1,154,000 after buying an additional 39,560 shares in 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.