ProFrac Holding Corp. (NASDAQ:ACDC) Receives Consensus Recommendation of “Reduce” from Analysts

ProFrac Holding Corp. (NASDAQ:ACDC) has received a consensus recommendation of “Reduce” from the six ratings firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $5.3750.

Several analysts have recently commented on ACDC shares. Morgan Stanley restated an “underweight” rating and issued a $4.00 target price on shares of ProFrac in a research note on Wednesday, January 21st. Zacks Research raised shares of ProFrac from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProFrac in a report on Monday, December 29th.

ProFrac Price Performance

Shares of NASDAQ ACDC opened at $5.00 on Friday. The stock has a fifty day moving average price of $4.69 and a 200 day moving average price of $4.27. ProFrac has a 1-year low of $3.08 and a 1-year high of $10.70. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.91 and a quick ratio of 0.63. The company has a market cap of $904.35 million, a PE ratio of -2.44 and a beta of 1.69.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ACDC. Walleye Capital LLC increased its holdings in shares of ProFrac by 3.6% in the 4th quarter. Walleye Capital LLC now owns 81,169 shares of the company’s stock valued at $316,000 after purchasing an additional 2,785 shares in the last quarter. Vanguard Group Inc. grew its position in ProFrac by 0.7% during the third quarter. Vanguard Group Inc. now owns 427,063 shares of the company’s stock worth $1,580,000 after buying an additional 3,003 shares during the period. Dimensional Fund Advisors LP increased its holdings in ProFrac by 3.5% in the third quarter. Dimensional Fund Advisors LP now owns 96,957 shares of the company’s stock valued at $359,000 after buying an additional 3,318 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of ProFrac by 7,241.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock valued at $27,000 after acquiring an additional 3,476 shares during the period. Finally, Intech Investment Management LLC boosted its stake in shares of ProFrac by 27.2% during the 3rd quarter. Intech Investment Management LLC now owns 16,434 shares of the company’s stock worth $61,000 after acquiring an additional 3,514 shares in the last quarter. Institutional investors and hedge funds own 12.75% of the company’s stock.

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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.