ProFrac (NASDAQ:ACDC) Stock Price Up 5.8% – What’s Next?

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) traded up 5.8% on Monday . The company traded as high as $3.85 and last traded at $3.7450. 910,787 shares were traded during trading, a decline of 15% from the average session volume of 1,073,206 shares. The stock had previously closed at $3.54.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of ProFrac in a report on Tuesday, November 25th. Morgan Stanley set a $4.50 target price on shares of ProFrac and gave the company an “underweight” rating in a research note on Friday, October 17th. Piper Sandler decreased their price objective on ProFrac from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Thursday, October 16th. Wall Street Zen downgraded shares of ProFrac from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Finally, Zacks Research lowered ProFrac from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. Two equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, ProFrac currently has a consensus rating of “Strong Sell” and a consensus target price of $5.80.

ProFrac Stock Up 4.5%

The company has a market cap of $669.22 million, a PE ratio of -1.80 and a beta of 1.72. The business has a fifty day simple moving average of $4.05 and a two-hundred day simple moving average of $5.68. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 0.96.

ProFrac (NASDAQ:ACDC) last issued its earnings results on Monday, November 10th. The company reported ($0.60) earnings per share (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 company had revenue of $403.10 million during the quarter, compared to analysts’ expectations of $412.00 million. As a group, equities research analysts predict that ProFrac Holding Corp. will post -0.5 earnings per share for the current year.

Insider Activity at ProFrac

In other ProFrac news, Chairman Matthew Wilks purchased 43,297 shares of the business’s stock in a transaction on Monday, September 8th. The shares were bought at an average cost of $3.80 per share, for a total transaction of $164,528.60. Following the completion of the purchase, the chairman directly owned 422,097 shares in the company, valued at approximately $1,603,968.60. This represents a 11.43% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.64% of the company’s stock.

Hedge Funds Weigh In On ProFrac

Institutional investors have recently made changes to their positions in the stock. Bridgeway Capital Management LLC raised its stake in shares of ProFrac by 10.6% during 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. American Century Companies Inc. grew its stake in shares of ProFrac by 10.4% during the first quarter. American Century Companies Inc. now owns 583,820 shares of the company’s stock valued at $4,431,000 after acquiring an additional 54,908 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of ProFrac during the first quarter worth about $548,000. Nuveen LLC acquired a new position in shares of ProFrac in the first quarter worth about $444,000. Finally, Drive Wealth Management LLC purchased a new position in ProFrac in the second quarter valued at about $111,000. 12.75% of the stock is 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.