ProFrac Holding Corp. (NASDAQ:ACDC) Short Interest Update

ProFrac Holding Corp. (NASDAQ:ACDC) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totalling 5,660,000 shares, a drop of 7.2% from the March 15th total of 6,100,000 shares. Based on an average daily volume of 891,800 shares, the short-interest ratio is presently 6.3 days.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ACDC. Kestra Advisory Services LLC increased its stake in ProFrac by 7.9% during the 2nd quarter. Kestra Advisory Services LLC now owns 13,600 shares of the company’s stock worth $152,000 after acquiring an additional 1,000 shares during the period. Tower Research Capital LLC TRC raised its stake in ProFrac by 10.0% in the second quarter. Tower Research Capital LLC TRC now owns 14,381 shares of the company’s stock valued at $160,000 after purchasing an additional 1,307 shares in the last quarter. Rhumbline Advisers lifted its position in ProFrac by 4.7% during the third quarter. Rhumbline Advisers now owns 35,384 shares of the company’s stock worth $385,000 after purchasing an additional 1,602 shares during the period. Charles Schwab Investment Management Inc. grew its stake in ProFrac by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 173,568 shares of the company’s stock worth $1,472,000 after buying an additional 1,820 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in shares of ProFrac by 8.6% in the 2nd quarter. California State Teachers Retirement System now owns 24,874 shares of the company’s stock valued at $278,000 after buying an additional 1,978 shares in the last quarter. Institutional investors own 12.75% of the company’s stock.

ProFrac Stock Up 0.5 %

Shares of ACDC opened at $8.49 on Tuesday. The firm has a market cap of $1.35 billion, a P/E ratio of -16.02 and a beta of 0.71. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.98. ProFrac has a 52 week low of $6.46 and a 52 week high of $14.32. The firm’s 50-day simple moving average is $7.97 and its 200 day simple moving average is $8.27.

ProFrac (NASDAQ:ACDC) last posted its earnings results on Friday, March 15th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.23). The firm had revenue of $489.10 million during the quarter, compared to analyst estimates of $594.17 million. ProFrac had a negative net margin of 3.98% and a positive return on equity of 3.04%. On average, analysts forecast that ProFrac will post 0.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ACDC has been the subject of a number of recent analyst reports. Bank of America increased their price target on shares of ProFrac from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Monday. Stifel Nicolaus cut their price target on shares of ProFrac from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, March 14th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $12.50.

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.