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

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have been assigned an average rating of “Reduce” from the five research firms that are currently covering the company, MarketBeat.com reports. Two research 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 price target among analysts that have updated their coverage on the stock in the last year is $6.00.

A number of equities analysts have commented on ACDC shares. 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 report on Monday, May 18th. 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 report on Wednesday, April 15th. UBS Group reaffirmed a “positive” rating on shares of ProFrac in a report on Thursday, March 12th. Wall Street Zen downgraded shares of ProFrac from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProFrac in a report on Friday, March 27th.

ProFrac Stock Up 6.9%

Shares of NASDAQ:ACDC opened at $5.72 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. The company has a fifty day simple moving average of $6.90 and a 200 day simple moving average of $5.76. The firm has a market cap of $1.03 billion, a PE ratio of -2.24 and a beta of 1.41. ProFrac has a 12-month low of $3.08 and a 12-month high of $8.49.

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

Hedge Funds Weigh In On ProFrac

Hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its holdings in shares of ProFrac by 61.7% during the fourth quarter. AQR Capital Management LLC now owns 1,638,822 shares of the company’s stock valued at $6,375,000 after acquiring an additional 625,596 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in ProFrac by 27.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,484,760 shares of the company’s stock worth $5,494,000 after purchasing an additional 322,860 shares during the period. Bridgeway Capital Management LLC raised its position in ProFrac by 2.8% in the second quarter. Bridgeway Capital Management LLC now owns 1,199,562 shares of the company’s stock worth $9,309,000 after acquiring an additional 32,382 shares in the last quarter. Wells Fargo & Company MN raised its position in ProFrac by 12.1% in the fourth quarter. Wells Fargo & Company MN now owns 1,088,687 shares of the company’s stock worth $4,235,000 after acquiring an additional 117,608 shares in the last quarter. Finally, Empowered Funds LLC raised its position in ProFrac by 9.6% in the fourth quarter. Empowered Funds LLC now owns 776,893 shares of the company’s stock worth $3,022,000 after acquiring an additional 67,939 shares in the last quarter. Institutional investors and hedge funds own 12.75% of the company’s stock.

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.