ProFrac Holding Corp. (NASDAQ:ACDC) Receives Consensus Rating of “Strong Sell” from Brokerages

ProFrac Holding Corp. (NASDAQ:ACDC) has received an average recommendation of “Strong Sell” from the six brokerages that are presently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $5.25.

Several research analysts recently issued reports on ACDC shares. Morgan Stanley set a $3.50 target price on shares of ProFrac in a report on Monday, December 15th. Piper Sandler reduced their price objective on ProFrac from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Thursday, October 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of ProFrac in a report on Monday. Finally, Zacks Research downgraded ProFrac from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of ProFrac by 0.7% in the third quarter. Vanguard Group Inc. now owns 427,063 shares of the company’s stock valued at $1,580,000 after purchasing an additional 3,003 shares during the period. Dimensional Fund Advisors LP boosted its holdings in ProFrac by 3.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 96,957 shares of the company’s stock valued at $359,000 after purchasing an additional 3,318 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in 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 purchasing an additional 3,476 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of ProFrac by 27.2% in the 3rd quarter. Intech Investment Management LLC now owns 16,434 shares of the company’s stock valued at $61,000 after buying an additional 3,514 shares during the period. Finally, Farther Finance Advisors LLC acquired a new stake in shares of ProFrac during the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 12.75% of the company’s stock.

ProFrac Stock Performance

NASDAQ:ACDC opened at $3.89 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.63 and a current ratio of 0.91. The stock’s fifty day moving average is $4.11 and its 200 day moving average is $5.09. The firm has a market capitalization of $703.58 million, a PE ratio of -1.90 and a beta of 1.69. ProFrac has a fifty-two week low of $3.08 and a fifty-two week high of $10.70.

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

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.