ProFrac (NASDAQ:ACDC) Stock Price Down 4.5% – What’s Next?

ProFrac Holding Corp. (NASDAQ:ACDC)’s share price traded down 4.5% on Friday . The company traded as low as $7.38 and last traded at $7.26. 23,391 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 396,044 shares. The stock had previously closed at $7.60.

Analysts Set New Price Targets

Several brokerages have issued reports on ACDC. Stifel Nicolaus decreased their price objective on shares of ProFrac from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Monday, January 6th. Bank of America restated a “hold” rating and set a $7.50 price objective on shares of ProFrac in a report on Monday, October 14th. Morgan Stanley lowered ProFrac from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $7.00 to $6.50 in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. lowered shares of ProFrac from a “neutral” rating to an “underweight” rating and set a $7.00 target price for the company. in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.20.

ProFrac Stock Down 3.6 %

The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.62 and a current ratio of 0.95. The company has a fifty day simple moving average of $8.02 and a two-hundred day simple moving average of $7.26. The firm has a market capitalization of $1.17 billion, a PE ratio of -5.17 and a beta of 1.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in shares of ProFrac by 110.7% in the 4th quarter. GAMMA Investing LLC now owns 5,749 shares of the company’s stock worth $45,000 after purchasing an additional 3,021 shares during the period. Fortitude Family Office LLC purchased a new stake in ProFrac during the fourth quarter worth $57,000. Catalina Capital Group LLC bought a new stake in ProFrac during the 4th quarter valued at $79,000. Stratos Investment Management LLC purchased a new position in shares of ProFrac in the 4th quarter valued at $84,000. Finally, Townsquare Capital LLC bought a new position in shares of ProFrac in the 3rd quarter worth $87,000. 12.75% of the stock is currently owned by institutional investors.

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.