ProFrac Holding Corp. (NASDAQ:ACDC) Receives Average Rating of “Reduce” from Analysts

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have received an average rating of “Reduce” from the six brokerages that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $6.1667.

Several equities research analysts have commented on ACDC shares. Piper Sandler upped their target price on shares of ProFrac from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Monday, May 18th. Wall Street Zen downgraded shares of ProFrac from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProFrac in a research note on Friday, March 27th. Morgan Stanley increased their price objective on shares of ProFrac from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 15th. Finally, UBS Group restated a “positive” rating on shares of ProFrac in a report on Thursday, March 12th.

ProFrac Price Performance

Shares of NASDAQ:ACDC opened at $6.93 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 1.27, a quick ratio of 0.58 and a current ratio of 0.82. The company has a market capitalization of $1.25 billion, a PE ratio of -2.72 and a beta of 1.42. The company has a 50 day moving average price of $6.78 and a two-hundred day moving average price of $5.47.

ProFrac (NASDAQ:ACDC) last issued its earnings results on Thursday, May 7th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.10). ProFrac had a negative net margin of 24.25% and a negative return on equity of 44.39%. The firm had revenue of $449.60 million during the quarter, compared to the consensus estimate of $426.39 million. Analysts forecast that ProFrac will post -1.15 earnings per share for the current year.

Institutional Trading of ProFrac

Several hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of ProFrac by 7,241.7% in the second quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock valued at $27,000 after purchasing an additional 3,476 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of ProFrac in the second quarter valued at about $29,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of ProFrac in the third quarter valued at about $45,000. Price T Rowe Associates Inc. MD bought a new stake in shares of ProFrac in the fourth quarter valued at about $46,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of ProFrac in the fourth quarter valued at about $47,000. Institutional investors and hedge funds own 12.75% of the company’s stock.

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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.