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

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) were down 6.4% during mid-day trading on Monday . The company traded as low as $7.07 and last traded at $7.0680. Approximately 452,065 shares were traded 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 equities research analysts have weighed in on ACDC shares. Weiss Ratings restated a “sell (d-)” rating on shares of ProFrac in a research note on Friday, March 27th. UBS Group reiterated a “positive” rating on shares of ProFrac in a research report on Thursday, March 12th. Wall Street Zen lowered ProFrac from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Piper Sandler raised their target price on shares of ProFrac from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Monday, May 18th. Finally, Morgan Stanley increased their price objective on ProFrac from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 15th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $6.17.

ProFrac Stock Performance

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

ProFrac (NASDAQ:ACDC) last issued 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). The business had revenue of $449.60 million for the quarter, compared to the consensus estimate of $426.39 million. ProFrac had a negative net margin of 24.25% and a negative return on equity of 44.39%. As a group, research analysts expect that ProFrac Holding Corp. will post -1.15 EPS for the current year.

Hedge Funds Weigh In On ProFrac

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its stake 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 acquiring an additional 3,476 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of ProFrac in the 2nd quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd bought a new position in shares of ProFrac in the 3rd quarter valued at approximately $45,000. Price T Rowe Associates Inc. MD bought a new position in shares of ProFrac in the 4th quarter valued at approximately $46,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of ProFrac in the 4th quarter valued at approximately $47,000. Institutional investors 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.