ProFrac Holding Corp. (NASDAQ:ACDC) Receives $5.80 Consensus PT from Brokerages

ProFrac Holding Corp. (NASDAQ:ACDC) has received an average recommendation of “Strong Sell” from the seven analysts that are presently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $5.80.

A number of equities research analysts have recently weighed in on ACDC shares. Wall Street Zen downgraded ProFrac from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Morgan Stanley set a $4.50 target price on shares of ProFrac and gave the company an “underweight” rating in a research note on Friday, October 17th. Zacks Research downgraded shares of ProFrac from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. Weiss Ratings restated a “sell (d-)” rating on shares of ProFrac in a report on Wednesday, October 8th. Finally, Piper Sandler reduced their target price on ProFrac from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Thursday, October 16th.

Insider Transactions at ProFrac

In other news, Chairman Matthew Wilks acquired 43,297 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The stock was purchased at an average price of $3.80 per share, for a total transaction of $164,528.60. Following the completion of the acquisition, the chairman owned 422,097 shares in the company, valued at $1,603,968.60. This trade represents a 11.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 2.64% of the company’s stock.

Hedge Funds Weigh In On ProFrac

Several institutional investors and hedge funds have recently made changes to their positions in ACDC. GSA Capital Partners LLP acquired a new position in ProFrac in the first quarter valued at about $548,000. Deutsche Bank AG grew its position in shares of ProFrac by 64.7% in the 1st quarter. Deutsche Bank AG now owns 14,680 shares of the company’s stock valued at $111,000 after purchasing an additional 5,767 shares during the period. Nuveen LLC bought a new stake in ProFrac during the 1st quarter worth approximately $444,000. American Century Companies Inc. lifted its stake in ProFrac by 10.4% in the first quarter. American Century Companies Inc. now owns 583,820 shares of the company’s stock valued at $4,431,000 after buying an additional 54,908 shares in the last quarter. Finally, AlphaQuest LLC boosted its holdings in shares of ProFrac by 367.1% in the first quarter. AlphaQuest LLC now owns 39,699 shares of the company’s stock valued at $301,000 after buying an additional 31,200 shares during the period. Institutional investors and hedge funds own 12.75% of the company’s stock.

ProFrac Trading Up 3.2%

Shares of NASDAQ ACDC opened at $3.82 on Thursday. ProFrac has a 1-year low of $3.43 and a 1-year high of $10.70. The company has a 50-day moving average of $4.11 and a two-hundred day moving average of $5.76. The company has a market cap of $690.92 million, a PE ratio of -1.86 and a beta of 1.66. The company has a current ratio of 0.91, a quick ratio of 0.62 and a debt-to-equity ratio of 0.96.

ProFrac (NASDAQ:ACDC) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.17). The company had revenue of $403.10 million during the quarter, compared to analyst estimates of $412.00 million. ProFrac had a negative net margin of 16.86% and a negative return on equity of 32.01%. As a group, equities analysts expect that ProFrac will post -0.5 earnings per share for the current fiscal year.

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.