ProFrac Holding Corp. (NASDAQ:ACDC) Stock Has Average Target Price of $5.25 According to Analysts

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have been assigned an average recommendation of “Reduce” from the five ratings firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $5.25.

A number of brokerages have recently issued reports on ACDC. Morgan Stanley cut their price target on ProFrac from $5.00 to $4.50 and set an “underweight” rating on the stock in a research note on Thursday, August 20th. Wall Street Zen downgraded ProFrac from a “hold” rating to a “sell” rating in a report on Saturday, October 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ProFrac in a research note on Monday, September 21st.

Insider Buying and Selling at ProFrac

In related news, major shareholder Dan H. Wilks purchased 517,669 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was acquired at an average price of $4.86 per share, with a total value of $2,515,871.34. Following the completion of the transaction, the insider owned 87,297,864 shares of the company’s stock, valued at $424,267,619.04. This represents a 0.60% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Wilks purchased 57,519 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were bought at an average cost of $4.86 per share, with a total value of $279,542.34. Following the transaction, the chief executive officer directly owned 479,616 shares of the company’s stock, valued at approximately $2,330,933.76. This represents a 13.63% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 2,014,454 shares of company stock valued at $9,750,117 in the last three months. Corporate insiders own 2.23% of the company’s stock.

Institutional Trading of ProFrac

Institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP grew its holdings in ProFrac by 88.8% during the 2nd quarter. Allworth Financial LP now owns 6,658 shares of the company’s stock worth $39,000 after acquiring an additional 3,131 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of ProFrac by 47.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 8,662 shares of the company’s stock worth $37,000 after purchasing an additional 2,795 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of ProFrac in the 2nd quarter valued at about $68,000. SG Americas Securities LLC acquired a new stake in shares of ProFrac in the 1st quarter valued at about $86,000. Finally, AXQ Capital LP raised its stake in shares of ProFrac by 11.0% in the 2nd quarter. AXQ Capital LP now owns 45,301 shares of the company’s stock valued at $263,000 after purchasing an additional 4,487 shares in the last quarter. 12.75% of the stock is owned by institutional investors and hedge funds.

ProFrac Stock Performance

NASDAQ:ACDC opened at $4.88 on Thursday. 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 firm has a 50-day moving average of $4.70 and a two-hundred day moving average of $5.53. The stock has a market cap of $888.75 million, a P/E ratio of -2.09 and a beta of 1.52. ProFrac has a 1-year low of $3.08 and a 1-year high of $8.22.

About ProFrac

ProFrac Holding Corp. is an energy services company that provides hydraulic fracturing and other well-stimulation services to oil and natural gas producers. Through its operations, the company supports the development and completion of unconventional wells, primarily in North American onshore energy markets.

The company’s activities include pressure pumping and hydraulic fracturing services, proppant production and distribution, and the manufacture, sale, and maintenance of equipment used in well-completion operations.