ProFrac (NASDAQ:ACDC) Shares Down 6.2% – Time to Sell?

ProFrac Holding Corp. (NASDAQ:ACDC)’s share price traded down 6.2% during trading on Friday . The company traded as low as $5.25 and last traded at $5.27. 314,353 shares were traded during mid-day trading, a decline of 72% from the average session volume of 1,113,882 shares. The stock had previously closed at $5.62.

Analyst Upgrades and Downgrades

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

ProFrac Trading Down 5.5%

The firm has a fifty day moving average of $4.63 and a 200 day moving average of $4.30. The firm has a market capitalization of $960.42 million, a PE ratio of -2.59 and a beta of 1.69. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.63 and a current ratio of 0.91.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ACDC. Bleakley Financial Group LLC acquired a new stake in ProFrac during the 2nd quarter valued at $379,000. Creative Planning purchased a new position in ProFrac in the 2nd quarter valued at about $102,000. Empowered Funds LLC grew its stake 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 in the last quarter. JPMorgan Chase & Co. grew its stake in shares of ProFrac by 818.7% during the second 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 in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of ProFrac by 5.9% in the second 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 in the last quarter. 12.75% of the stock is currently owned by hedge funds and other institutional investors.

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.