ProFrac (NASDAQ:ACDC) Shares Gap Down – What’s Next?

ProFrac Holding Corp. (NASDAQ:ACDC) shares gapped down before the market opened on Monday . The stock had previously closed at $5.03, but opened at $4.30. ProFrac shares last traded at $4.3690, with a volume of 556,392 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ACDC. Piper Sandler dropped their target price on ProFrac from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Thursday, October 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of ProFrac in a research note on Wednesday, October 8th. Zacks Research cut shares of ProFrac from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. Morgan Stanley set a $4.50 price target on shares of ProFrac and gave the company an “underweight” rating in a research report on Friday, October 17th. Finally, Wall Street Zen downgraded shares of ProFrac from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Two investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Strong Sell” and a consensus target price of $5.80.

ProFrac Trading Down 15.0%

The company has a market cap of $773.22 million, a P/E ratio of -2.44 and a beta of 1.66. The company has a quick ratio of 0.62, a current ratio of 0.91 and a debt-to-equity ratio of 1.00. The business has a fifty day moving average price of $4.10 and a 200-day moving average price of $5.79.

ProFrac (NASDAQ:ACDC) last issued its earnings results on Thursday, August 7th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.38). The business had revenue of $501.90 million for the quarter, compared to analyst estimates of $532.93 million. ProFrac had a negative return on equity of 22.78% and a negative net margin of 12.89%. On average, analysts forecast that ProFrac Holding Corp. will post -0.5 earnings per share for the current year.

Insider Buying and Selling at ProFrac

In other ProFrac news, major shareholder Holdings Lp Thrc purchased 2,500,000 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was purchased at an average cost of $4.00 per share, for a total transaction of $10,000,000.00. Following the transaction, the insider owned 82,389,657 shares in the company, valued at $329,558,628. The trade was a 3.13% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Matthew Wilks acquired 43,297 shares of ProFrac stock in a transaction that occurred on Monday, September 8th. The stock was acquired at an average cost of $3.80 per share, for a total transaction of $164,528.60. Following the purchase, the chairman owned 422,097 shares of the company’s stock, valued at $1,603,968.60. The trade was a 11.43% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 2.64% of the company’s stock.

Institutional Investors Weigh In On ProFrac

A number of institutional investors and hedge funds have recently bought and sold shares of ACDC. GSA Capital Partners LLP purchased a new stake in shares of ProFrac in the first quarter valued at about $548,000. Deutsche Bank AG boosted its stake in shares of ProFrac by 64.7% in the 1st quarter. Deutsche Bank AG now owns 14,680 shares of the company’s stock worth $111,000 after buying an additional 5,767 shares during the last quarter. Nuveen LLC purchased a new stake in shares of ProFrac during the first quarter valued at approximately $444,000. American Century Companies Inc. lifted its holdings in ProFrac by 10.4% during the first quarter. American Century Companies Inc. now owns 583,820 shares of the company’s stock worth $4,431,000 after acquiring an additional 54,908 shares during the period. Finally, AlphaQuest LLC boosted its position in ProFrac by 367.1% in the first quarter. AlphaQuest LLC now owns 39,699 shares of the company’s stock worth $301,000 after purchasing an additional 31,200 shares during the last quarter. 12.75% of the stock is 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.