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

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have been given an average rating of “Hold” by the five research firms that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $12.50.

A number of research firms recently commented on ACDC. Stifel Nicolaus decreased their target price on ProFrac from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, March 14th. Bank of America boosted their price objective on shares of ProFrac from $8.50 to $9.50 and gave the company a “neutral” rating in a research report on Monday, April 15th.

ProFrac Stock Performance

NASDAQ ACDC opened at $6.96 on Monday. The business has a 50-day moving average price of $8.09 and a 200-day moving average price of $8.08. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -13.13 and a beta of 0.76. ProFrac has a twelve month low of $6.46 and a twelve month high of $14.32. The company has a quick ratio of 0.62, a current ratio of 0.98 and a debt-to-equity ratio of 0.74.

ProFrac (NASDAQ:ACDC) last posted its quarterly earnings results on Friday, March 15th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.23). The business had revenue of $489.10 million during the quarter, compared to the consensus estimate of $594.17 million. ProFrac had a positive return on equity of 3.04% and a negative net margin of 3.98%. As a group, equities research analysts predict that ProFrac will post 0.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its holdings in shares of ProFrac by 42.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,827 shares of the company’s stock valued at $58,000 after acquiring an additional 2,034 shares in the last quarter. Peoples Bank KS purchased a new stake in shares of ProFrac in the 3rd quarter worth approximately $33,000. Bank of New York Mellon Corp increased its holdings in ProFrac by 5.0% during the third quarter. Bank of New York Mellon Corp now owns 172,244 shares of the company’s stock valued at $1,874,000 after buying an additional 8,265 shares during the period. SG Americas Securities LLC bought a new position in ProFrac in the third quarter worth approximately $159,000. Finally, New York State Common Retirement Fund lifted its holdings in ProFrac by 56.4% during the third quarter. New York State Common Retirement Fund now owns 48,661 shares of the company’s stock worth $529,000 after buying an additional 17,539 shares during the period. Hedge funds and other 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.