ProFrac (NASDAQ:ACDC) Issues Earnings Results, Misses Estimates By $0.36 EPS

ProFrac (NASDAQ:ACDC) posted its quarterly earnings results on Thursday. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.36), FiscalAI reports. ProFrac had a negative net margin of 16.86% and a negative return on equity of 32.01%. The business had revenue of $436.50 million for the quarter, compared to analysts’ expectations of $402.95 million.

ProFrac Stock Up 0.3%

Shares of ACDC opened at $5.86 on Thursday. The company has a market cap of $1.06 billion, a PE ratio of -2.86 and a beta of 1.70. The business has a fifty day moving average of $4.99 and a 200 day moving average of $4.35. ProFrac has a 52-week low of $3.08 and a 52-week high of $10.70. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 0.96.

Hedge Funds Weigh In On ProFrac

Hedge funds and other institutional investors have recently made changes to their positions in the company. UBS Group AG boosted its stake in ProFrac by 1,862.8% in the third quarter. UBS Group AG now owns 705,568 shares of the company’s stock valued at $2,611,000 after acquiring an additional 669,621 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of ProFrac by 61.7% during the 4th quarter. AQR Capital Management LLC now owns 1,638,822 shares of the company’s stock valued at $6,375,000 after purchasing an additional 625,596 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of ProFrac by 27.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,484,760 shares of the company’s stock worth $5,494,000 after purchasing an additional 322,860 shares in the last quarter. HRT Financial LP boosted its position in shares of ProFrac by 409.5% in the 4th quarter. HRT Financial LP now owns 382,837 shares of the company’s stock worth $1,489,000 after purchasing an additional 307,696 shares in the last quarter. Finally, Millennium Management LLC grew its stake in ProFrac by 293.4% during the 3rd quarter. Millennium Management LLC now owns 317,446 shares of the company’s stock worth $1,175,000 after buying an additional 236,756 shares during the last quarter. Institutional investors own 12.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ACDC. Zacks Research raised ProFrac from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of ProFrac in a research report on Monday, December 29th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $4.00 target price on shares of ProFrac in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, ProFrac presently has an average rating of “Reduce” and a consensus price target of $5.38.

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.