ProFrac Holding Corp. (NASDAQ:ACDC) Given Average Rating of “Strong Sell” by Brokerages

ProFrac Holding Corp. (NASDAQ:ACDC) has been given a consensus recommendation of “Strong Sell” by the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $5.50.

ACDC has been the subject of several research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of ProFrac in a research note on Tuesday, November 25th. Piper Sandler reduced their price target on shares of ProFrac from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Thursday, October 16th. Zacks Research cut shares of ProFrac from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. Finally, Morgan Stanley set a $4.50 price objective on shares of ProFrac and gave the company an “underweight” rating in a research note on Friday, October 17th.

ProFrac Trading Down 2.3%

ProFrac stock opened at $4.24 on Monday. ProFrac has a 52 week low of $3.08 and a 52 week high of $10.70. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.63 and a current ratio of 0.91. The firm has a market capitalization of $766.89 million, a price-to-earnings ratio of -2.07 and a beta of 1.72. The company has a 50 day moving average price of $4.08 and a 200 day moving average price of $5.59.

ProFrac (NASDAQ:ACDC) last released its earnings results on Monday, November 10th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.17). The business had revenue of $403.10 million during the quarter, compared to analysts’ expectations of $412.00 million. ProFrac had a negative net margin of 16.86% and a negative return on equity of 32.01%. Research analysts forecast that ProFrac will post -0.5 EPS for the current year.

Institutional Trading of ProFrac

Several hedge funds and other institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new stake in ProFrac during the third quarter valued at $45,000. Dark Forest Capital Management LP increased its position in ProFrac by 131.7% in the 3rd quarter. Dark Forest Capital Management LP now owns 282,844 shares of the company’s stock worth $1,047,000 after purchasing an additional 160,752 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of ProFrac during the 3rd quarter worth about $54,000. Millennium Management LLC lifted its holdings in shares of ProFrac by 293.4% during the 3rd quarter. Millennium Management LLC now owns 317,446 shares of the company’s stock valued at $1,175,000 after buying an additional 236,756 shares during the last quarter. Finally, Brevan Howard Capital Management LP grew its stake in shares of ProFrac by 161.6% in the 3rd quarter. Brevan Howard Capital Management LP now owns 60,217 shares of the company’s stock valued at $223,000 after buying an additional 37,196 shares in the last quarter. 12.75% of the stock is currently owned by hedge funds and other institutional investors.

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.