ProFrac (NASDAQ:ACDC) Shares Down 4.3% – Time to Sell?

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) fell 4.3% on Wednesday . The company traded as low as $8.66 and last traded at $8.63. 48,876 shares changed hands during trading, a decline of 88% from the average session volume of 404,026 shares. The stock had previously closed at $9.02.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ACDC. Morgan Stanley lowered ProFrac from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $7.00 to $6.50 in a research note on Thursday, October 17th. JPMorgan Chase & Co. lowered shares of ProFrac from a “neutral” rating to an “underweight” rating and set a $7.00 price target on the stock. in a report on Friday, December 6th. Bank of America reaffirmed a “hold” rating and set a $7.50 target price on shares of ProFrac in a research report on Monday, October 14th. Finally, Stifel Nicolaus reduced their price target on ProFrac from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, ProFrac presently has a consensus rating of “Hold” and a consensus target price of $7.20.

ProFrac Stock Performance

The company has a debt-to-equity ratio of 0.86, a current ratio of 0.95 and a quick ratio of 0.62. The company’s fifty day moving average price is $7.94 and its 200 day moving average price is $7.25. The company has a market cap of $1.36 billion, a PE ratio of -6.03 and a beta of 1.20.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ACDC. GAMMA Investing LLC boosted its holdings in ProFrac by 110.7% in the 4th quarter. GAMMA Investing LLC now owns 5,749 shares of the company’s stock worth $45,000 after buying an additional 3,021 shares during the period. Fortitude Family Office LLC bought a new stake in ProFrac during the 4th quarter worth approximately $57,000. Catalina Capital Group LLC bought a new position in ProFrac in the 4th quarter valued at $79,000. Townsquare Capital LLC purchased a new position in shares of ProFrac during the 3rd quarter valued at $87,000. Finally, Quantinno Capital Management LP bought a new position in shares of ProFrac in the third quarter worth $100,000. 12.75% of the stock is owned by 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.