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

ProFrac Holding Corp. (NASDAQ:ACDC) has been assigned a consensus recommendation of “Reduce” from the six research firms that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $6.1667.

Several equities research analysts have recently issued reports on ACDC shares. UBS Group reaffirmed a “positive” rating on shares of ProFrac in a research report on Thursday, March 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProFrac in a research report on Friday, March 27th. Piper Sandler lifted their price objective on shares of ProFrac from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Monday, May 18th. Wall Street Zen cut shares of ProFrac from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Morgan Stanley lifted their price objective on shares of ProFrac from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 15th.

Institutional Investors Weigh In On ProFrac

Several institutional investors have recently modified their holdings of ACDC. EverSource Wealth Advisors LLC lifted its position in shares of ProFrac by 7,241.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock worth $27,000 after purchasing an additional 3,476 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in ProFrac in the second quarter valued at $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in ProFrac in the third quarter valued at $45,000. Price T Rowe Associates Inc. MD purchased a new stake in ProFrac in the fourth quarter valued at $46,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in ProFrac in the fourth quarter valued at $47,000. 12.75% of the stock is owned by hedge funds and other institutional investors.

ProFrac Stock Performance

Shares of ACDC stock opened at $6.11 on Monday. The stock has a market capitalization of $1.11 billion, a PE ratio of -2.40 and a beta of 1.42. The firm has a 50 day moving average of $6.70 and a two-hundred day moving average of $5.35. ProFrac has a 52 week low of $3.08 and a 52 week high of $10.70. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 1.27.

ProFrac (NASDAQ:ACDC) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.10). The firm had revenue of $449.60 million for the quarter, compared to analysts’ expectations of $426.39 million. ProFrac had a negative return on equity of 44.39% and a negative net margin of 24.25%. On average, research analysts predict that ProFrac will post -1.15 EPS for the current fiscal year.

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.