ProFrac Holding Corp. (NASDAQ:ACDC) Short Interest Down 5.8% in January

ProFrac Holding Corp. (NASDAQ:ACDC) was the recipient of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totalling 4,890,000 shares, a decrease of 5.8% from the December 31st total of 5,190,000 shares. Based on an average trading volume of 542,900 shares, the days-to-cover ratio is presently 9.0 days.

Institutional Trading of ProFrac

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in ProFrac by 110.7% during the 4th quarter. GAMMA Investing LLC now owns 5,749 shares of the company’s stock valued at $45,000 after purchasing an additional 3,021 shares during the period. Fortitude Family Office LLC acquired a new stake in ProFrac during the 4th quarter valued at approximately $57,000. Catalina Capital Group LLC acquired a new stake in ProFrac during the 4th quarter valued at approximately $79,000. Stratos Investment Management LLC acquired a new stake in ProFrac during the 4th quarter valued at approximately $84,000. Finally, Townsquare Capital LLC acquired a new stake in ProFrac during the 3rd quarter valued at approximately $87,000. Institutional investors and hedge funds own 12.75% of the company’s stock.

ProFrac Trading Down 4.3 %

Shares of NASDAQ ACDC opened at $7.27 on Monday. The company has a 50 day simple moving average of $8.01 and a 200 day simple moving average of $7.23. ProFrac has a 1 year low of $5.16 and a 1 year high of $9.75. The company has a current ratio of 0.95, a quick ratio of 0.62 and a debt-to-equity ratio of 0.86.

Wall Street Analysts Forecast Growth

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

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.