ProFrac (NASDAQ:ACDC) Trading 1.8% Higher – Should You Buy?

ProFrac Holding Corp. (NASDAQ:ACDC) shares traded up 1.8% during mid-day trading on Thursday . The company traded as high as $5.75 and last traded at $5.62. 1,325,935 shares traded hands during trading, an increase of 19% from the average session volume of 1,111,536 shares. The stock had previously closed at $5.52.

Analysts Set New Price Targets

ACDC has been the subject of a number of research analyst reports. Morgan Stanley reiterated an “underweight” rating and set a $4.00 price objective on shares of ProFrac in a report on Wednesday, January 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProFrac in a report on Monday, December 29th. Finally, Zacks Research raised ProFrac from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 21st. Three research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $5.38.

ProFrac Stock Up 1.8%

The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 0.96. The company has a market cap of $1.02 billion, a P/E ratio of -2.74 and a beta of 1.69. The business’s 50 day moving average is $4.60 and its 200 day moving average is $4.32.

Hedge Funds Weigh In On ProFrac

A number of large investors have recently added to or reduced their stakes in ACDC. Invesco Ltd. boosted its holdings in shares of ProFrac by 28.4% in the 4th quarter. Invesco Ltd. now owns 240,655 shares of the company’s stock valued at $936,000 after buying an additional 53,210 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in ProFrac by 89.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 27,898 shares of the company’s stock valued at $109,000 after acquiring an additional 13,187 shares in the last quarter. Empowered Funds LLC boosted its stake in ProFrac by 9.6% in the fourth quarter. Empowered Funds LLC now owns 776,893 shares of the company’s stock valued at $3,022,000 after acquiring an additional 67,939 shares in the last quarter. Wellington Management Group LLP grew its holdings in ProFrac by 49.0% in the fourth quarter. Wellington Management Group LLP now owns 23,198 shares of the company’s stock worth $90,000 after purchasing an additional 7,624 shares during the last quarter. Finally, Susquehanna Portfolio Strategies LLC increased its position in shares of ProFrac by 23.9% during the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 87,544 shares of the company’s stock worth $341,000 after purchasing an additional 16,880 shares in the last quarter. 12.75% of the stock is currently owned by 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.