ProFrac Holding Corp. (NASDAQ:ACDC) Stock Has Consensus Price Target of $5.25

ProFrac Holding Corp. (NASDAQ:ACDC) has been given a consensus rating of “Reduce” by the five research firms that are presently covering the firm, MarketBeat Ratings reports. Two 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 12 month price objective among analysts that have issued a report on the stock in the last year is $5.25.

Several research analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of ProFrac in a research note on Monday, September 21st. Morgan Stanley reduced their price objective on shares of ProFrac from $5.00 to $4.50 and set an “underweight” rating for the company in a report on Thursday, August 20th. Finally, Wall Street Zen raised shares of ProFrac from a “sell” rating to a “hold” rating in a report on Saturday.

Insiders Place Their Bets

In related news, CEO Matthew Wilks acquired 22,481 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was acquired at an average cost of $5.44 per share, for a total transaction of $122,296.64. Following the completion of the acquisition, the chief executive officer directly owned 502,097 shares of the company’s stock, valued at approximately $2,731,407.68. The trade was a 4.69% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Dan H. Wilks acquired 30,820 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were bought at an average price of $4.81 per share, for a total transaction of $148,244.20. Following the purchase, the insider directly owned 88,107,422 shares of the company’s stock, valued at approximately $423,796,699.82. This trade represents a 0.03% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 2,014,454 shares of company stock worth $9,750,117. 2.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ProFrac

A number of institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC bought a new position in ProFrac during the 2nd quarter valued at $68,000. Allworth Financial LP raised its stake in shares of ProFrac by 88.8% in the 2nd quarter. Allworth Financial LP now owns 6,658 shares of the company’s stock worth $39,000 after buying an additional 3,131 shares in the last quarter. Corient Private Wealth LP bought a new stake in shares of ProFrac in the 2nd quarter worth $368,000. AXQ Capital LP lifted its holdings in shares of ProFrac by 11.0% in the second quarter. AXQ Capital LP now owns 45,301 shares of the company’s stock valued at $263,000 after buying an additional 4,487 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of ProFrac by 186.9% in the first quarter. Bank of America Corp DE now owns 175,664 shares of the company’s stock valued at $1,089,000 after buying an additional 114,429 shares during the period. 12.75% of the stock is currently owned by institutional investors and hedge funds.

ProFrac Stock Up 2.7%

ACDC opened at $4.88 on Friday. ProFrac has a 12 month low of $3.08 and a 12 month high of $8.22. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.59. The stock has a market cap of $888.76 million, a P/E ratio of -2.09 and a beta of 1.52. The stock’s 50 day moving average price is $4.79 and its 200 day moving average price is $5.75.

ProFrac Company Profile

ProFrac Holding Corp. is an energy services company that provides hydraulic fracturing and other completion services to oil and natural gas producers. Its operations support the development of unconventional wells, where specialized equipment and high-pressure pumping are used to stimulate underground formations and improve hydrocarbon recovery.

The company operates an integrated business model spanning stimulation services, proppant production and manufacturing. Its offerings include hydraulic fracturing, well stimulation, frac sand and other proppants, logistics and related equipment manufacturing, maintenance and repair services.