ProFrac (NASDAQ:ACDC) Trading Up 7.9% - Here's Why

Key Points

• ProFrac shares were trading up 7.9% mid-day, reaching as high as $5.89 and last at $5.86 on volume of 917,987 shares (about 20% below the average session volume).
• Analysts are mixed-to-bearish: Weiss Ratings reissued a "sell (d-)", Morgan Stanley has an "underweight" with a $4 target, Zacks moved to "hold", and the consensus rating is "Reduce" with a $5.38 consensus price target.
• The company has a market cap of $1.04 billion, a negative P/E of -2.81 and a debt/equity of 0.96, with the 50-day and 200-day SMAs at $4.91 and $4.32 respectively, and institutional ownership around 12.75% including a large stake increase by First Financial Bankshares.

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) shares traded up 7.9% during mid-day trading on Tuesday . The stock traded as high as $5.89 and last traded at $5.86. 917,987 shares traded hands during trading, a decline of 20% from the average session volume of 1,150,076 shares. The stock had previously closed at $5.43.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of ProFrac in a report on Monday, December 29th. Morgan Stanley reiterated an "underweight" rating and set a $4.00 target price on shares of ProFrac in a research note on Wednesday, January 21st. Finally, Zacks Research raised ProFrac from a "strong sell" rating to a "hold" rating in a report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of $5.38.

ProFrac Stock Up 6.1%

The company's 50-day simple moving average is $4.91 and its two-hundred day simple moving average is $4.32. The firm has a market capitalization of $1.04 billion, a P/E ratio of -2.81 and a beta of 1.70. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.91 and a quick ratio of 0.63.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Citizens Financial Group Inc. RI bought a new position in shares of ProFrac during the 3rd quarter valued at approximately $444,000. First Financial Bankshares Inc increased its stake in ProFrac by 30.1% in the 3rd quarter. First Financial Bankshares Inc now owns 4,204,795 shares of the company's stock worth $15,558,000 after buying an additional 973,062 shares in the last quarter. SummerHaven Investment Management LLC bought a new stake in ProFrac during the third quarter valued at about $406,000. Counterpoint Mutual Funds LLC purchased a new position in shares of ProFrac in the third quarter valued at about $501,000. Finally, Empowered Funds LLC lifted its position in shares of ProFrac by 5.4% in the second quarter. Empowered Funds LLC now owns 627,062 shares of the company's stock valued at $4,866,000 after acquiring an additional 32,382 shares in the last quarter. Institutional investors own 12.75% of the company's stock.

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

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