ProFrac (NASDAQ:ACDC) Stock Price Down 7.4% - Time to Sell?

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) shares traded down 7.4% during mid-day trading on Wednesday . The company traded as low as $7.59 and last traded at $7.59. 647,249 shares were traded during trading, a decline of 8% from the average session volume of 704,289 shares. The stock had previously closed at $8.20.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Stifel Nicolaus cut their price target on shares of ProFrac from $7.00 to $6.00 and set a "hold" rating on the stock in a report on Tuesday, April 15th. Morgan Stanley dropped their price target on shares of ProFrac from $7.00 to $5.00 and set an "underweight" rating on the stock in a research report on Friday, May 16th. Finally, Wall Street Zen upgraded shares of ProFrac from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, ProFrac has an average rating of "Hold" and an average target price of $6.90.

ProFrac Stock Performance

The company has a current ratio of 0.95, a quick ratio of 0.62 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -6.29 and a beta of 1.75. The firm has a 50-day simple moving average of $5.70 and a two-hundred day simple moving average of $7.04.

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

Insider Transactions at ProFrac

In other news, major shareholder Holdings Lp Thrc bought 207,163 shares of ProFrac stock in a transaction dated Friday, May 16th. The shares were bought at an average price of $6.25 per share, for a total transaction of $1,294,768.75. Following the purchase, the insider now owns 79,855,858 shares of the company's stock, valued at approximately $499,099,112.50. This trade represents a 0.26% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Matthew Wilks purchased 20,221 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were acquired at an average cost of $4.32 per share, with a total value of $87,354.72. Following the completion of the acquisition, the chairman now directly owns 308,977 shares in the company, valued at approximately $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 acquired a total of 733,996 shares of company stock worth $4,356,960 over the last three months. 2.84% of the stock is currently owned by insiders.

Institutional Trading of ProFrac

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in shares of ProFrac during the fourth quarter worth approximately $115,000. Bleakley Financial Group LLC bought a new position in shares of ProFrac during the 4th quarter worth approximately $455,000. Empowered Funds LLC grew its position in ProFrac by 5.1% in the fourth quarter. Empowered Funds LLC now owns 582,767 shares of the company's stock valued at $4,522,000 after purchasing an additional 28,370 shares in the last quarter. Savant Capital LLC bought a new position in ProFrac in the fourth quarter valued at approximately $147,000. Finally, Private Advisor Group LLC acquired a new position in ProFrac during the fourth quarter worth $112,000. 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.