ProFrac (NASDAQ:ACDC) Stock Price Up 7.9% – Time to Buy?

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) rose 7.9% during mid-day trading on Tuesday . The stock traded as high as $5.89 and last traded at $5.86. Approximately 917,987 shares changed hands during trading, a decline of 20% from the average daily volume of 1,150,076 shares. The stock had previously closed at $5.43.

Wall Street Analysts Forecast Growth

ACDC has been the topic of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProFrac in a research report on Monday, December 29th. Zacks Research upgraded ProFrac from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 21st. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $4.00 target price on shares of ProFrac in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $5.38.

ProFrac Stock Performance

The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.63 and a current ratio of 0.91. The company has a market cap of $1.06 billion, a PE ratio of -2.86 and a beta of 1.70. The business’s 50-day moving average is $4.99 and its 200 day moving average is $4.35.

ProFrac (NASDAQ:ACDC) last posted its quarterly earnings results on Thursday, March 12th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.36). The business had revenue of $436.50 million for the quarter, compared to analysts’ expectations of $402.95 million. ProFrac had a negative net margin of 16.86% and a negative return on equity of 32.01%. On average, equities research analysts predict that ProFrac Holding Corp. will post -0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On ProFrac

Several institutional investors and hedge funds have recently bought and sold shares of ACDC. First Financial Bankshares Inc lifted its position in ProFrac by 30.1% in the third quarter. First Financial Bankshares Inc now owns 4,204,795 shares of the company’s stock valued at $15,558,000 after purchasing an additional 973,062 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of ProFrac by 61.7% in the fourth quarter. AQR Capital Management LLC now owns 1,638,822 shares of the company’s stock worth $6,375,000 after purchasing an additional 625,596 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in shares of ProFrac by 27.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,484,760 shares of the company’s stock worth $5,494,000 after buying an additional 322,860 shares during the period. Bridgeway Capital Management LLC increased its stake in shares of ProFrac by 2.8% in the second quarter. Bridgeway Capital Management LLC now owns 1,199,562 shares of the company’s stock worth $9,309,000 after buying an additional 32,382 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in ProFrac by 12.1% during the 4th quarter. Wells Fargo & Company MN now owns 1,088,687 shares of the company’s stock valued at $4,235,000 after buying an additional 117,608 shares during the last quarter. 12.75% of the stock is currently owned by institutional investors.

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