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

ProFrac Holding Corp. (NASDAQ:ACDC) was the recipient of a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 5,310,000 shares, a decline of 6.2% from the March 31st total of 5,660,000 shares. Based on an average daily trading volume, of 937,400 shares, the days-to-cover ratio is currently 5.7 days.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Stifel Nicolaus lowered their target price on ProFrac from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, March 14th. Bank of America boosted their price objective on ProFrac from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Monday, April 15th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.50.

ProFrac Stock Performance

NASDAQ:ACDC opened at $7.27 on Wednesday. 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 has a market cap of $1.16 billion, a price-to-earnings ratio of -13.72 and a beta of 0.71. The business’s fifty day moving average is $8.13 and its 200 day moving average is $8.15.

ProFrac (NASDAQ:ACDC) last released its quarterly earnings data on Friday, March 15th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.23). ProFrac had a negative net margin of 3.98% and a positive return on equity of 3.04%. The company had revenue of $489.10 million for the quarter, compared to the consensus estimate of $594.17 million. Research analysts predict that ProFrac will post 0.84 EPS for the current year.

Hedge Funds Weigh In On ProFrac

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACDC. Peoples Bank KS purchased a new position in ProFrac during the third quarter worth about $33,000. Tower Research Capital LLC TRC grew its position in ProFrac by 42.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,827 shares of the company’s stock worth $58,000 after buying an additional 2,034 shares in the last quarter. SG Americas Securities LLC purchased a new position in ProFrac during the third quarter worth about $159,000. Jump Financial LLC purchased a new position in ProFrac during the fourth quarter worth about $179,000. Finally, Aristides Capital LLC purchased a new position in ProFrac during the fourth quarter worth about $279,000. 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.