ProFrac Holding Corp. (ACDC) – What Are Analysts Thinking About This Stock?

ProFrac Holding Corp. (NASDAQ:ACDC) has been assigned an average rating of “Reduce” from the five ratings firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $5.25.

A number of research firms recently commented on ACDC. Wall Street Zen upgraded ProFrac from a “sell” rating to a “hold” rating in a research report on Saturday, October 3rd. Morgan Stanley dropped their price target on ProFrac from $5.00 to $4.50 and set an “underweight” rating for the company in a research note on Thursday, August 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ProFrac in a research note on Monday, September 21st.

Insiders Place Their Bets

In other news, major shareholder Dan H. Wilks bought 30,820 shares of the stock in a transaction dated Tuesday, August 25th. The stock was purchased at an average cost of $4.81 per share, for a total transaction of $148,244.20. Following the transaction, the insider owned 88,107,422 shares of the company’s stock, valued at $423,796,699.82. The trade was a 0.03% 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, major shareholder Holdings Lp Thrc bought 30,820 shares of the stock in a transaction dated Tuesday, August 25th. The shares were purchased at an average price of $4.81 per share, with a total value of $148,244.20. Following the completion of the transaction, the insider directly owned 83,816,235 shares in the company, valued at approximately $403,156,090.35. The trade was a 0.04% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 2,014,454 shares of company stock valued at $9,750,117 in the last quarter. 2.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ProFrac

Several large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in ProFrac by 156.5% during the first quarter. Dimensional Fund Advisors LP now owns 390,420 shares of the company’s stock valued at $2,421,000 after purchasing an additional 238,210 shares in the last quarter. Walleye Capital LLC lifted its position in ProFrac by 328.6% during the first quarter. Walleye Capital LLC now owns 347,911 shares of the company’s stock valued at $2,157,000 after purchasing an additional 266,742 shares during the last quarter. Bank of America Corp DE lifted its position in ProFrac by 186.9% during the first quarter. Bank of America Corp DE now owns 175,664 shares of the company’s stock valued at $1,089,000 after purchasing an additional 114,429 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of ProFrac in the 1st quarter worth $872,000. Finally, Sei Investments Co. grew its stake in shares of ProFrac by 91.6% in the 1st quarter. Sei Investments Co. now owns 99,986 shares of the company’s stock worth $620,000 after buying an additional 47,800 shares in the last quarter. Institutional investors own 12.75% of the company’s stock.

ProFrac Trading Down 1.3%

Shares of ProFrac stock opened at $4.64 on Friday. The firm has a market cap of $845.04 million, a price-to-earnings ratio of -1.99 and a beta of 1.52. The business has a 50-day moving average price of $4.85 and a 200-day moving average price of $5.72. The company has a quick ratio of 0.59, a current ratio of 0.84 and a debt-to-equity ratio of 1.42. ProFrac has a twelve month low of $3.08 and a twelve month high of $8.22.

About ProFrac

ProFrac Holding Corp. is an energy services company that provides hydraulic fracturing and other completion services to oil and natural gas producers. Its operations support the development of unconventional wells, where specialized equipment and high-pressure pumping are used to stimulate underground formations and improve hydrocarbon recovery.

The company operates an integrated business model spanning stimulation services, proppant production and manufacturing. Its offerings include hydraulic fracturing, well stimulation, frac sand and other proppants, logistics and related equipment manufacturing, maintenance and repair services.