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

ProFrac Holding Corp. (NASDAQ:ACDC) has received an average recommendation of “Reduce” from the five ratings firms that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $5.50.

A number of equities analysts have recently issued reports on the stock. Piper Sandler increased their price objective on shares of ProFrac from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Monday, May 18th. Wall Street Zen lowered shares of ProFrac from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Morgan Stanley set a $5.00 price objective on ProFrac in a research note on Wednesday, July 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ProFrac in a report on Wednesday, June 24th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Walleye Capital LLC raised its holdings in shares of ProFrac by 3.6% in the fourth quarter. Walleye Capital LLC now owns 81,169 shares of the company’s stock valued at $316,000 after buying an additional 2,785 shares during the last quarter. Vanguard Group Inc. grew its holdings in ProFrac by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 427,063 shares of the company’s stock worth $1,580,000 after acquiring an additional 3,003 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in ProFrac by 3.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 96,957 shares of the company’s stock worth $359,000 after acquiring an additional 3,318 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in ProFrac by 7,241.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock valued at $27,000 after acquiring an additional 3,476 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in ProFrac by 27.2% in the 3rd quarter. Intech Investment Management LLC now owns 16,434 shares of the company’s stock valued at $61,000 after acquiring an additional 3,514 shares in the last quarter. 12.75% of the stock is currently owned by institutional investors and hedge funds.

ProFrac Trading Down 0.6%

ProFrac stock opened at $4.77 on Tuesday. The business has a 50 day moving average price of $6.30 and a two-hundred day moving average price of $5.89. 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 has a 12 month low of $3.08 and a 12 month high of $8.44. The stock has a market cap of $862.99 million, a price-to-earnings ratio of -1.87 and a beta of 1.42.

ProFrac (NASDAQ:ACDC) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.10). ProFrac had a negative return on equity of 44.39% and a negative net margin of 24.25%.The firm had revenue of $449.60 million for the quarter, compared to analyst estimates of $426.39 million. As a group, equities analysts forecast that ProFrac will post -1.16 EPS 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.