ProFrac Holding Corp. (NASDAQ:ACDC) Given Consensus Rating of “Reduce” by Analysts

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have been given a consensus rating of “Reduce” by the six research firms that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $5.3750.

A number of equities analysts have weighed in on ACDC shares. Morgan Stanley restated an “underweight” rating and issued a $4.00 target price on shares of ProFrac in a research note on Wednesday, January 21st. Zacks Research raised ProFrac from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 21st. Weiss Ratings restated a “sell (d-)” rating on shares of ProFrac in a research report on Monday, December 29th. Finally, Piper Sandler dropped their price target on ProFrac from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Thursday, October 16th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Citizens Financial Group Inc. RI purchased a new stake in ProFrac during the 3rd quarter valued at about $444,000. Drive Wealth Management LLC purchased a new position in ProFrac in the 2nd quarter worth approximately $111,000. Farther Finance Advisors LLC bought a new stake in ProFrac in the second quarter valued at approximately $29,000. Empowered Funds LLC boosted 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 purchasing an additional 32,382 shares during the period. Finally, Bleakley Financial Group LLC bought a new position in shares of ProFrac in the second quarter worth approximately $379,000. 12.75% of the stock is owned by hedge funds and other institutional investors.

ProFrac Stock Performance

Shares of ACDC opened at $5.17 on Tuesday. The stock has a 50 day moving average of $4.06 and a 200 day moving average of $4.59. The company has a market capitalization of $935.10 million, a price-to-earnings ratio of -2.52 and a beta of 1.69. ProFrac has a 12 month low of $3.08 and a 12 month high of $10.70. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 0.96.

ProFrac (NASDAQ:ACDC) last released its earnings results on Monday, November 10th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.17). The business had revenue of $403.10 million for the quarter, compared to the consensus estimate of $412.00 million. ProFrac had a negative return on equity of 32.01% and a negative net margin of 16.86%. As a group, sell-side analysts forecast 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.