ProFrac (NASDAQ:PFHC) Trading Down 8.9%

Shares of ProFrac Holding Corp. (NASDAQ:PFHCGet Rating) fell 8.9% on Friday . The company traded as low as $15.19 and last traded at $15.27. 378 shares were traded during trading, a decline of 100% from the average session volume of 426,313 shares. The stock had previously closed at $16.77.

Analyst Ratings Changes

A number of research firms recently weighed in on PFHC. Johnson Rice began coverage on shares of ProFrac in a research note on Wednesday, June 22nd. They set a “buy” rating and a $31.00 target price on the stock. JPMorgan Chase & Co. began coverage on shares of ProFrac in a research note on Tuesday, June 7th. They set an “overweight” rating and a $25.00 target price on the stock. Morgan Stanley cut their target price on shares of ProFrac from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 13th. Stifel Nicolaus increased their price target on shares of ProFrac from $27.00 to $29.00 in a research note on Monday, August 15th. Finally, Bank of America lowered shares of ProFrac from a “buy” rating to a “neutral” rating and dropped their price target for the company from $26.00 to $18.00 in a research note on Friday, July 15th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, ProFrac has an average rating of “Moderate Buy” and a consensus price target of $27.08.

ProFrac Stock Down 8.1 %

The firm’s fifty day moving average is $18.63. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.63 and a quick ratio of 1.20.

Institutional Investors Weigh In On ProFrac

Several large investors have recently modified their holdings of PFHC. Samson Rock Capital LLP acquired a new stake in shares of ProFrac in the second quarter valued at approximately $366,000. Russell Investments Group Ltd. acquired a new stake in shares of ProFrac during the second quarter worth $953,000. Emerald Advisers LLC acquired a new stake in shares of ProFrac during the second quarter worth $16,021,000. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of ProFrac during the second quarter worth $11,999,000. Finally, Calamos Advisors LLC acquired a new stake in shares of ProFrac during the second quarter worth $657,000. 20.68% of the stock is owned by institutional investors and hedge funds.

About ProFrac

(Get Rating)

ProFrac Holding Corp., a vertically integrated and energy services company, provides hydraulic fracturing, completion, and other products and services to upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. It operates through three segments: Stimulation Services, Manufacturing, and Proppant Production.

Further Reading

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