ProFrac (NASDAQ:ACDC) Stock Price Down 6.4% – Should You Sell?

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) were down 6.4% on Monday . The company traded as low as $7.07 and last traded at $7.0680. Approximately 452,065 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 1,349,831 shares. The stock had previously closed at $7.55.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ACDC shares. Weiss Ratings reissued a “sell (d-)” rating on shares of ProFrac in a research note on Friday, March 27th. Wall Street Zen downgraded ProFrac from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. UBS Group reissued a “positive” rating on shares of ProFrac in a research note on Thursday, March 12th. Piper Sandler raised their target price on ProFrac from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Monday, May 18th. Finally, Morgan Stanley raised their target price on ProFrac from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Wednesday, April 15th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $6.17.

ProFrac Stock Performance

The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -2.76 and a beta of 1.41. The firm’s 50 day moving average price is $6.87 and its 200-day moving average price is $5.61. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.82 and a quick ratio of 0.58.

ProFrac (NASDAQ:ACDC) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.47) earnings per share 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 firm had revenue of $449.60 million for the quarter, compared to analyst estimates of $426.39 million. On average, analysts anticipate that ProFrac Holding Corp. will post -1.15 earnings per share for the current year.

Hedge Funds Weigh In On ProFrac

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Walleye Capital LLC boosted its stake in ProFrac by 3.6% in the fourth quarter. Walleye Capital LLC now owns 81,169 shares of the company’s stock worth $316,000 after purchasing an additional 2,785 shares in the last quarter. Vanguard Group Inc. raised its holdings in ProFrac by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 427,063 shares of the company’s stock worth $1,580,000 after purchasing an additional 3,003 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in ProFrac by 3.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 96,957 shares of the company’s stock worth $359,000 after purchasing an additional 3,318 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in ProFrac by 7,241.7% during the 2nd 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 last quarter. Finally, Intech Investment Management LLC raised its holdings in 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 purchasing an additional 3,514 shares during the last quarter. 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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.