ProFrac Holding Corp. (NASDAQ:ACDC – Get Free Report) 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.
View Our Latest Analysis on ProFrac
Insiders Place Their Bets
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 – Get Free Report) 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.
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