ProFrac Holding Corp. (NASDAQ:ACDC) Given Average Recommendation of “Hold” by Analysts

ProFrac Holding Corp. (NASDAQ:ACDC) has been given an average rating of “Hold” by the four ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $7.50.

Several equities analysts have recently issued reports on the company. Piper Sandler lowered their price target on ProFrac from $11.00 to $9.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Morgan Stanley cut shares of ProFrac from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $7.00 to $6.50 in a report on Thursday, October 17th. Bank of America reiterated a “hold” rating and set a $7.50 price target on shares of ProFrac in a report on Monday, October 14th. Finally, Stifel Nicolaus lowered shares of ProFrac from a “buy” rating to a “hold” rating and set a $7.00 price objective for the company. in a report on Friday, October 11th.

Insiders Place Their Bets

In related news, major shareholder Holdings Lp Thrc acquired 411,383 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average price of $6.03 per share, for a total transaction of $2,480,639.49. Following the completion of the transaction, the insider now directly owns 76,611,928 shares in the company, valued at approximately $461,969,925.84. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders acquired 1,933,600 shares of company stock valued at $12,207,161. 2.93% of the stock is owned by insiders.

Institutional Trading of ProFrac

Hedge funds have recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC bought a new stake in shares of ProFrac during the 1st quarter valued at about $357,000. Delta Investment Management LLC grew its position in ProFrac by 47.8% during the first quarter. Delta Investment Management LLC now owns 15,469 shares of the company’s stock valued at $129,000 after buying an additional 5,000 shares during the period. Virtu Financial LLC purchased a new stake in ProFrac during the first quarter valued at approximately $401,000. Bank of New York Mellon Corp raised its position in ProFrac by 12.1% in the second quarter. Bank of New York Mellon Corp now owns 117,720 shares of the company’s stock worth $872,000 after acquiring an additional 12,683 shares during the period. Finally, nVerses Capital LLC purchased a new position in shares of ProFrac during the 2nd quarter worth $44,000. Hedge funds and other institutional investors own 12.75% of the company’s stock.

ProFrac Price Performance

ACDC stock opened at $5.91 on Monday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.64 and a current ratio of 1.01. The firm has a market capitalization of $945.22 million, a price-to-earnings ratio of -6.35 and a beta of 0.81. The firm has a 50 day moving average price of $6.58 and a 200-day moving average price of $7.47. ProFrac has a 52-week low of $5.16 and a 52-week high of $10.14.

ProFrac (NASDAQ:ACDC) last announced its quarterly earnings data on Friday, August 9th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). ProFrac had a negative net margin of 8.58% and a negative return on equity of 2.30%. The company had revenue of $579.40 million for the quarter, compared to analysts’ expectations of $624.64 million. Equities research analysts forecast that ProFrac will post -0.41 EPS for the current fiscal year.

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.