ProFrac Holding Corp. (NASDAQ:ACDC) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have earned a consensus recommendation of “Moderate Buy” from the four ratings firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $9.63.

A number of research firms have issued reports on ACDC. Piper Sandler decreased their price objective on ProFrac from $11.00 to $9.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Stifel Nicolaus reduced their price target on ProFrac from $10.00 to $7.00 and set a “buy” rating for the company in a report on Monday. Finally, Bank of America reduced their price target on ProFrac from $9.50 to $8.50 and set a “neutral” rating for the company in a report on Monday, July 15th.

Insider Activity at ProFrac

In other news, major shareholder Holdings Lp Thrc bought 440,217 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were acquired at an average cost of $9.49 per share, with a total value of $4,177,659.33. Following the completion of the transaction, the insider now owns 75,640,762 shares of the company’s stock, valued at approximately $717,830,831.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ACDC. Russell Investments Group Ltd. grew its stake in shares of ProFrac by 712.8% during the 4th quarter. Russell Investments Group Ltd. now owns 149,100 shares of the company’s stock valued at $1,264,000 after acquiring an additional 130,757 shares during the period. Jump Financial LLC bought a new position in shares of ProFrac during the 4th quarter valued at approximately $179,000. Quest Partners LLC bought a new position in shares of ProFrac during the 4th quarter valued at approximately $356,000. Tower Research Capital LLC TRC lifted its holdings in ProFrac by 42.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,827 shares of the company’s stock worth $58,000 after purchasing an additional 2,034 shares in the last quarter. Finally, Aristides Capital LLC purchased a new position in ProFrac in the 4th quarter worth approximately $279,000. 12.75% of the stock is currently owned by institutional investors.

ProFrac Stock Performance

Shares of ACDC stock opened at $6.31 on Wednesday. The stock has a fifty day moving average of $7.71 and a 200 day moving average of $7.96. ProFrac has a 52 week low of $5.59 and a 52 week high of $11.94. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -6.78 and a beta of 0.85. The company has a quick ratio of 0.71, a current ratio of 1.07 and a debt-to-equity ratio of 0.72.

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.