Stifel Nicolaus Has Lowered Expectations for ProFrac (NASDAQ:ACDC) Stock Price

ProFrac (NASDAQ:ACDC) had its price target reduced by equities research analysts at Stifel Nicolaus from $7.00 to $6.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price target suggests a potential downside of 24.05% from the company’s previous close.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. cut ProFrac from a “neutral” rating to an “underweight” rating and set a $7.00 price objective for the company. in a research report on Friday, December 6th. Bank of America reaffirmed a “hold” rating and set a $7.50 price objective on shares of ProFrac in a research report on Monday, October 14th. Finally, Morgan Stanley lowered shares of ProFrac from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $7.00 to $6.50 in a research report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $7.20.

ProFrac Trading Up 3.0 %

Shares of NASDAQ:ACDC opened at $7.90 on Monday. ProFrac has a 52-week low of $5.16 and a 52-week high of $9.75. 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 market capitalization of $1.27 billion, a P/E ratio of -5.60 and a beta of 1.20. The company has a 50-day simple moving average of $7.52 and a 200 day simple moving average of $7.16.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ACDC. GAMMA Investing LLC boosted its holdings in shares of ProFrac by 110.7% during the 4th quarter. GAMMA Investing LLC now owns 5,749 shares of the company’s stock valued at $45,000 after acquiring an additional 3,021 shares in the last quarter. Barclays PLC boosted its stake in shares of ProFrac by 213.6% during the third quarter. Barclays PLC now owns 29,215 shares of the company’s stock valued at $199,000 after purchasing an additional 19,898 shares in the last quarter. Arete Wealth Advisors LLC grew its holdings in shares of ProFrac by 478.8% during the third quarter. Arete Wealth Advisors LLC now owns 130,447 shares of the company’s stock worth $874,000 after purchasing an additional 107,908 shares during the last quarter. Quantinno Capital Management LP acquired a new position in shares of ProFrac in the third quarter valued at approximately $100,000. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in ProFrac by 114.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 831,320 shares of the company’s stock valued at $5,645,000 after buying an additional 443,530 shares during the last quarter. Institutional investors own 12.75% of the company’s stock.

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.