ProFrac (NASDAQ:ACDC) Shares Up 3.6% – Time to Buy?

ProFrac Holding Corp. (NASDAQ:ACDC)’s share price was up 3.6% on Monday . The stock traded as high as $3.87 and last traded at $3.8850. Approximately 144,153 shares were traded during trading, a decline of 87% from the average daily volume of 1,074,909 shares. The stock had previously closed at $3.75.

Analysts Set New Price Targets

A number of research firms recently commented on ACDC. Zacks Research downgraded ProFrac from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. Morgan Stanley set a $3.50 price objective on shares of ProFrac in a research note on Monday, December 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProFrac in a research note on Monday, December 22nd. Finally, Piper Sandler decreased their target price on shares of ProFrac from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Strong Sell” and an average target price of $5.25.

ProFrac Stock Up 1.9%

The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.63 and a current ratio of 0.91. The firm has a market cap of $691.47 million, a price-to-earnings ratio of -1.86 and a beta of 1.72. The business’s 50 day moving average price is $4.12 and its 200 day moving average price is $5.18.

ProFrac (NASDAQ:ACDC) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.17). ProFrac had a negative net margin of 16.86% and a negative return on equity of 32.01%. The firm had revenue of $403.10 million for the quarter, compared to analyst estimates of $412.00 million. On average, equities analysts forecast that ProFrac Holding Corp. will post -0.5 EPS for the current year.

Hedge Funds Weigh In On ProFrac

A number of large investors have recently bought and sold shares of the business. Bridgeway Capital Management LLC grew its position in shares of ProFrac by 10.6% in the first quarter. Bridgeway Capital Management LLC now owns 1,167,180 shares of the company’s stock valued at $8,859,000 after purchasing an additional 111,913 shares during the period. Nuveen LLC purchased a new position in ProFrac in the 1st quarter valued at about $444,000. Drive Wealth Management LLC acquired a new stake in ProFrac in the 2nd quarter worth about $111,000. Walleye Capital LLC purchased a new stake in ProFrac during the 1st quarter worth approximately $97,000. Finally, Farther Finance Advisors LLC purchased a new stake in ProFrac during the 2nd quarter worth approximately $29,000. Institutional investors and hedge funds own 12.75% of the company’s stock.

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.