ProFrac Holding Corp. (NASDAQ:ACDC) Given Average Rating of “Reduce” by Analysts

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have been assigned an average recommendation of “Reduce” from the six brokerages that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $5.8333.

ACDC has been the topic of a number of research reports. Wall Street Zen lowered shares of ProFrac from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. UBS Group reissued a “positive” rating on shares of ProFrac in a report on Thursday, March 12th. Zacks Research upgraded shares of ProFrac from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 21st. Morgan Stanley upped their price objective on shares of ProFrac from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Wednesday, April 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ProFrac in a research note on Friday, March 27th.

ProFrac Price Performance

Shares of NASDAQ:ACDC opened at $7.11 on Thursday. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -2.79 and a beta of 1.51. The business has a 50 day moving average price of $6.40 and a 200 day moving average price of $5.16. The company has a quick ratio of 0.56, a current ratio of 0.82 and a debt-to-equity ratio of 1.27. ProFrac has a twelve month low of $3.08 and a twelve month high of $10.70.

ProFrac (NASDAQ:ACDC) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.10). ProFrac had a negative return on equity of 44.39% and a negative net margin of 24.25%.The business had revenue of $449.60 million during the quarter, compared to the consensus estimate of $426.39 million. Research analysts predict that ProFrac will post -1.2 earnings per share for the current year.

Institutional Trading of ProFrac

Hedge funds have recently modified their holdings of the company. Creative Planning acquired a new stake in shares of ProFrac during the 2nd quarter worth approximately $102,000. JPMorgan Chase & Co. raised its stake in shares of ProFrac by 818.7% in the second quarter. JPMorgan Chase & Co. now owns 101,191 shares of the company’s stock valued at $785,000 after purchasing an additional 90,176 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in ProFrac by 7,241.7% in the second quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock worth $27,000 after purchasing an additional 3,476 shares during the period. First Trust Advisors LP bought a new position in ProFrac in the second quarter worth $553,000. Finally, Sei Investments Co. boosted its stake in ProFrac by 17.7% during the second quarter. Sei Investments Co. now owns 41,305 shares of the company’s stock worth $321,000 after buying an additional 6,200 shares in the last quarter. Institutional investors 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.