ProFrac (NASDAQ:ACDC) Shares Gap Up – What’s Next?

ProFrac Holding Corp. (NASDAQ:ACDC)’s share price gapped up prior to trading on Friday . The stock had previously closed at $7.17, but opened at $7.81. ProFrac shares last traded at $7.77, with a volume of 99,908 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ACDC shares. JPMorgan Chase & Co. downgraded shares of ProFrac from a “neutral” rating to an “underweight” rating and set a $7.00 price objective on the stock. in a report on Friday, December 6th. Stifel Nicolaus lowered their price target on ProFrac from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, ProFrac has a consensus rating of “Hold” and an average price target of $7.20.

ProFrac Price Performance

The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -5.10 and a beta of 1.19. The company has a quick ratio of 0.62, a current ratio of 0.95 and a debt-to-equity ratio of 0.86. The company’s 50-day moving average is $7.82 and its 200-day moving average is $7.22.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ACDC. Barclays PLC grew its holdings in shares of ProFrac by 213.6% in the 3rd quarter. Barclays PLC now owns 29,215 shares of the company’s stock worth $199,000 after purchasing an additional 19,898 shares during the last quarter. SG Americas Securities LLC bought a new stake in ProFrac during the fourth quarter worth about $115,000. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of ProFrac by 114.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 831,320 shares of the company’s stock worth $5,645,000 after buying an additional 443,530 shares in the last quarter. Bleakley Financial Group LLC bought a new position in shares of ProFrac in the fourth quarter valued at approximately $455,000. Finally, Savant Capital LLC acquired a new position in shares of ProFrac in the 4th quarter worth approximately $147,000. 12.75% of the stock is currently owned by institutional investors and hedge funds.

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.