ProFrac Holding Corp. (NASDAQ:ACDC) Receives $5.38 Average Price Target from Analysts

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have received a consensus recommendation of “Reduce” from the seven ratings firms that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $5.6250.

A number of analysts have recently issued reports on the stock. Morgan Stanley raised their price target on shares of ProFrac from $4.00 to $5.00 and gave the stock an “underweight” rating in a report on Tuesday. Zacks Research upgraded ProFrac from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProFrac in a research report on Monday, December 29th. Finally, UBS Group reissued a “positive” rating on shares of ProFrac in a research note on Thursday, March 12th.

ProFrac Trading Up 8.2%

Shares of ACDC stock opened at $6.71 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.08. ProFrac has a twelve month low of $3.08 and a twelve month high of $10.70. The company’s 50-day moving average price is $5.42 and its 200-day moving average price is $4.51. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -3.05 and a beta of 1.70.

ProFrac (NASDAQ:ACDC) last released its quarterly earnings data on Friday, March 13th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.07). The firm had revenue of $436.50 million for the quarter, compared to analyst estimates of $402.95 million. ProFrac had a negative return on equity of 33.18% and a negative net margin of 18.97%. As a group, equities analysts predict that ProFrac will post -0.5 earnings per share for the current year.

Institutional Trading of ProFrac

Hedge funds and other institutional investors have recently modified their holdings of the business. Creative Planning acquired a new position in ProFrac in the second quarter valued at about $102,000. Empowered Funds LLC increased its position in shares of ProFrac by 5.4% during the second quarter. Empowered Funds LLC now owns 627,062 shares of the company’s stock valued at $4,866,000 after acquiring an additional 32,382 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of ProFrac by 818.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 101,191 shares of the company’s stock valued at $785,000 after acquiring an additional 90,176 shares during the period. American Century Companies Inc. lifted its holdings in shares of ProFrac by 5.9% in the 2nd quarter. American Century Companies Inc. now owns 618,194 shares of the company’s stock worth $4,797,000 after acquiring an additional 34,374 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted 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 worth $27,000 after acquiring an additional 3,476 shares during the last quarter. 12.75% of the stock is owned by institutional investors and hedge funds.

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.