ProFrac Holding Corp. (NASDAQ:ACDC) Receives Average Recommendation of “Reduce” from Analysts

ProFrac Holding Corp. (NASDAQ:ACDC) has earned an average recommendation of “Reduce” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $5.3750.

A number of brokerages have recently weighed in on ACDC. Zacks Research raised shares of ProFrac from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProFrac in a report on Monday, December 29th. Morgan Stanley restated an “underweight” rating and issued a $4.00 price target on shares of ProFrac in a report on Wednesday, January 21st. Finally, Piper Sandler dropped their price target on ProFrac from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Thursday, October 16th.

ProFrac Trading Up 4.4%

NASDAQ ACDC opened at $5.44 on Tuesday. ProFrac has a 12 month low of $3.08 and a 12 month high of $10.70. The stock has a 50-day simple moving average of $4.23 and a 200 day simple moving average of $4.49. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $983.93 million, a PE ratio of -2.65 and a beta of 1.69.

ProFrac (NASDAQ:ACDC) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.17). The company had revenue of $403.10 million during the quarter, compared to the consensus estimate of $412.00 million. ProFrac had a negative net margin of 16.86% and a negative return on equity of 32.01%. Research analysts forecast that ProFrac will post -0.5 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ACDC. First Financial Bankshares Inc boosted 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 purchasing an additional 973,062 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of ProFrac by 27.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,484,760 shares of the company’s stock worth $5,494,000 after buying an additional 322,860 shares in the last quarter. Bridgeway Capital Management LLC raised its position in ProFrac by 2.8% in the 2nd quarter. Bridgeway Capital Management LLC now owns 1,199,562 shares of the company’s stock valued at $9,309,000 after buying an additional 32,382 shares during the last quarter. UBS Group AG raised its position in ProFrac by 1,862.8% in the 3rd quarter. UBS Group AG now owns 705,568 shares of the company’s stock valued at $2,611,000 after buying an additional 669,621 shares during the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in ProFrac in the 3rd quarter valued at approximately $2,377,000. Institutional investors and hedge funds 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.