ProFrac (NASDAQ:ACDC) Shares Gap Down – Time to Sell?

ProFrac Holding Corp. (NASDAQ:ACDC)’s share price gapped down prior to trading on Monday . The stock had previously closed at $4.26, but opened at $4.09. ProFrac shares last traded at $4.22, with a volume of 89,605 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently commented on ACDC shares. Morgan Stanley set a $5.00 price objective on shares of ProFrac in a report on Wednesday, July 15th. Wall Street Zen downgraded shares of ProFrac from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Piper Sandler boosted their target price on ProFrac from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Monday, May 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ProFrac in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $5.50.

ProFrac Stock Performance

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 company has a market capitalization of $671.21 million, a price-to-earnings ratio of -1.45 and a beta of 1.42. The firm has a 50-day simple moving average of $5.94 and a two-hundred day simple moving average of $5.91.

ProFrac (NASDAQ:ACDC) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.10). ProFrac had a negative return on equity of 44.39% and a negative net margin of 24.25%.The business had revenue of $449.60 million for the quarter, compared to analyst estimates of $426.39 million. On average, sell-side analysts anticipate that ProFrac Holding Corp. will post -1.16 EPS for the current fiscal year.

Institutional Investors Weigh In On ProFrac

A number of hedge funds have recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL purchased a new position in ProFrac in the third quarter valued at $2,377,000. Walleye Capital LLC increased its holdings in ProFrac by 328.6% during the 1st quarter. Walleye Capital LLC now owns 347,911 shares of the company’s stock worth $2,157,000 after purchasing an additional 266,742 shares during the period. JPMorgan Chase & Co. raised its position in ProFrac by 125.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 228,477 shares of the company’s stock valued at $845,000 after purchasing an additional 127,286 shares in the last quarter. Sei Investments Co. raised its position in ProFrac by 91.6% in the 1st quarter. Sei Investments Co. now owns 99,986 shares of the company’s stock valued at $620,000 after purchasing an additional 47,800 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of ProFrac by 156.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 390,420 shares of the company’s stock valued at $2,421,000 after buying an additional 238,210 shares during the period. 12.75% of the stock is currently owned by institutional investors and hedge funds.

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.