ProFrac (NASDAQ:ACDC) Shares Down 5.3% – Should You Sell?

ProFrac Holding Corp. (NASDAQ:ACDC) fell 5.3% on Monday . The stock traded as low as $4.95 and last traded at $4.8750. Approximately 338,746 shares traded hands during trading, a decline of 75% from the average session volume of 1,364,504 shares. The stock had previously closed at $5.15.

Wall Street Analyst Weigh In

ACDC has been the topic of several recent research reports. Piper Sandler boosted their price objective on shares of ProFrac from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Monday, May 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProFrac in a report on Wednesday, June 24th. Wall Street Zen lowered shares of ProFrac from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. UBS Group reiterated a “positive” rating on shares of ProFrac in a research note on Thursday, March 12th. Finally, Morgan Stanley raised their price objective on shares of ProFrac from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Wednesday, April 15th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $6.00.

ProFrac Trading Down 7.1%

The firm has a market cap of $865.70 million, a price-to-earnings ratio of -1.88 and a beta of 1.42. The business has a fifty day moving average of $6.80 and a two-hundred day moving average of $5.81. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.82.

ProFrac (NASDAQ:ACDC) last posted its earnings results on Thursday, May 7th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.10). ProFrac had a negative net margin of 24.25% and a negative return on equity of 44.39%. The firm had revenue of $449.60 million during the quarter, compared to analyst estimates of $426.39 million. As a group, equities analysts expect that ProFrac Holding Corp. will post -1.15 earnings per share for the current fiscal year.

Institutional Trading of ProFrac

Large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its holdings in shares of ProFrac by 7,241.7% in the second quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock worth $27,000 after acquiring an additional 3,476 shares during the last quarter. Raymond James Financial Inc. purchased a new position in ProFrac in the 2nd quarter valued at about $29,000. Caitong International Asset Management Co. Ltd purchased a new position in ProFrac in the 3rd quarter valued at about $45,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of ProFrac during the 4th quarter worth about $46,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of ProFrac during the fourth quarter worth about $47,000. 12.75% of the stock is currently owned by institutional investors and hedge funds.

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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.