Analysts Set ProFrac Holding Corp. (NASDAQ:ACDC) PT at $7.50

ProFrac Holding Corp. (NASDAQ:ACDC) has earned a consensus recommendation of “Hold” from the four brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $7.50.

ACDC has been the subject of a number of recent analyst reports. Bank of America reiterated a “hold” rating and issued a $7.50 price target on shares of ProFrac in a research report on Monday, October 14th. Stifel Nicolaus lowered shares of ProFrac from a “buy” rating to a “hold” rating and set a $7.00 price target for the company. in a research report on Friday, October 11th. Finally, Morgan Stanley lowered shares of ProFrac from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $7.00 to $6.50 in a research report on Thursday, October 17th.

ProFrac Stock Up 7.2 %

Shares of ACDC stock opened at $8.44 on Friday. ProFrac has a 12 month low of $5.16 and a 12 month high of $9.75. The stock has a market cap of $1.35 billion, a P/E ratio of -5.99 and a beta of 0.84. 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 50 day simple moving average of $6.73 and a two-hundred day simple moving average of $7.32.

Insider Buying and Selling

In related news, major shareholder Holdings Lp Thrc bought 353,635 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was purchased at an average price of $6.17 per share, for a total transaction of $2,181,927.95. Following the completion of the transaction, the insider now owns 79,197,549 shares in the company, valued at $488,648,877.33. The trade was a 0.45 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders purchased 1,313,434 shares of company stock worth $8,365,633. 2.93% of the stock is owned by insiders.

Hedge Funds Weigh In On ProFrac

A number of hedge funds and other institutional investors have recently modified their holdings of ACDC. nVerses Capital LLC bought a new position in shares of ProFrac during the second quarter worth $44,000. Townsquare Capital LLC purchased a new stake in ProFrac during the third quarter valued at $87,000. Quantinno Capital Management LP purchased a new stake in ProFrac during the third quarter valued at $100,000. Squarepoint Ops LLC purchased a new stake in ProFrac during the second quarter valued at $150,000. Finally, Barclays PLC raised its stake in ProFrac by 213.6% during the third quarter. Barclays PLC now owns 29,215 shares of the company’s stock valued at $199,000 after purchasing an additional 19,898 shares in the last quarter. Institutional investors own 12.75% of the company’s stock.

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.