ProFrac (NASDAQ:ACDC) Shares Down 11.5% – Should You Sell?

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) dropped 11.5% during mid-day trading on Wednesday . The stock traded as low as $5.46 and last traded at $5.33. 127,988 shares changed hands during trading, a decline of 91% from the average session volume of 1,353,525 shares. The stock had previously closed at $6.02.

Wall Street Analyst Weigh In

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

ProFrac Trading Down 10.7%

The company has a 50 day moving average of $6.91 and a 200 day moving average of $5.74. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.82. The stock has a market capitalization of $972.63 million, a price-to-earnings ratio of -2.12 and a beta of 1.41.

ProFrac (NASDAQ:ACDC) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.10). The business had revenue of $449.60 million for the quarter, compared to analyst estimates of $426.39 million. ProFrac had a negative return on equity of 44.39% and a negative net margin of 24.25%. On average, research analysts predict that ProFrac Holding Corp. will post -1.15 EPS for the current fiscal year.

Hedge Funds Weigh In On ProFrac

Several large investors have recently modified their holdings of ACDC. Walleye Capital LLC raised its position in ProFrac by 3.6% in the fourth quarter. Walleye Capital LLC now owns 81,169 shares of the company’s stock valued at $316,000 after purchasing an additional 2,785 shares during the period. Vanguard Group Inc. grew its stake in shares of ProFrac by 0.7% in the third quarter. Vanguard Group Inc. now owns 427,063 shares of the company’s stock valued at $1,580,000 after buying an additional 3,003 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of ProFrac by 3.5% in the third quarter. Dimensional Fund Advisors LP now owns 96,957 shares of the company’s stock valued at $359,000 after buying an additional 3,318 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of ProFrac by 7,241.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock valued at $27,000 after buying an additional 3,476 shares during the period. Finally, Intech Investment Management LLC raised its holdings in shares of ProFrac by 27.2% in the 3rd quarter. Intech Investment Management LLC now owns 16,434 shares of the company’s stock valued at $61,000 after buying an additional 3,514 shares during the period. 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.