ProFrac (NASDAQ:ACDC) Reaches New 1-Year Low – Should You Sell?

ProFrac Holding Corp. (NASDAQ:ACDC) shares reached a new 52-week low during trading on Thursday . The company traded as low as $3.43 and last traded at $3.3850, with a volume of 565055 shares traded. The stock had previously closed at $3.56.

Wall Street Analyst Weigh In

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

ProFrac Trading Down 7.7%

The firm’s fifty day moving average is $4.10 and its two-hundred day moving average is $5.74. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 0.96. The firm has a market cap of $594.16 million, a P/E ratio of -1.61 and a beta of 1.66.

ProFrac (NASDAQ:ACDC) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.17). ProFrac had a negative return on equity of 32.01% and a negative net margin of 16.86%.The business had revenue of $403.10 million during the quarter, compared to the consensus estimate of $412.00 million. Analysts predict that ProFrac Holding Corp. will post -0.5 earnings per share for the current fiscal year.

Insider Buying and Selling at ProFrac

In other ProFrac news, Chairman Matthew Wilks acquired 43,297 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was purchased at an average price of $3.80 per share, for a total transaction of $164,528.60. Following the acquisition, the chairman owned 422,097 shares in the company, valued at approximately $1,603,968.60. This trade represents a 11.43% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On ProFrac

A number of large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its holdings in ProFrac by 7,241.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock valued at $27,000 after buying an additional 3,476 shares in the last quarter. Farther Finance Advisors LLC purchased a new position in ProFrac in the second quarter valued at $29,000. Raymond James Financial Inc. acquired a new stake in ProFrac in the second quarter valued at $29,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of ProFrac during the 3rd quarter worth about $45,000. Finally, AXQ Capital LP purchased a new position in shares of ProFrac in the 3rd quarter valued at about $48,000. Institutional investors and hedge funds 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.