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

ProFrac Holding Corp. (NASDAQ:ACDC) has been given an average rating of “Reduce” by the six research firms that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $5.3750.

ACDC has been the topic of a number of research reports. Zacks Research upgraded shares of ProFrac from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 21st. Morgan Stanley reaffirmed an “underweight” rating and set a $4.00 price target on shares of ProFrac in a report on Wednesday, January 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ProFrac in a research note on Monday, December 29th.

Institutional Trading of ProFrac

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bleakley Financial Group LLC bought a new position in ProFrac during the second quarter worth $379,000. Creative Planning bought a new position in ProFrac during the second quarter valued at $102,000. Empowered Funds LLC lifted its holdings in 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 last quarter. JPMorgan Chase & Co. boosted its holdings in ProFrac by 818.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 101,191 shares of the company’s stock worth $785,000 after buying an additional 90,176 shares during the period. Finally, American Century Companies Inc. grew its position 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 valued at $4,797,000 after purchasing an additional 34,374 shares in the last quarter. Institutional investors and hedge funds own 12.75% of the company’s stock.

ProFrac Stock Down 5.5%

ACDC stock opened at $5.31 on Friday. ProFrac has a 1-year low of $3.08 and a 1-year high of $10.70. The business’s 50 day simple moving average is $4.63 and its 200 day simple moving average is $4.31. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $960.42 million, a PE ratio of -2.59 and a beta of 1.69.

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.