ProFrac Holding Corp. (NASDAQ:ACDC) Given Consensus Recommendation of “Reduce” by Brokerages

ProFrac Holding Corp. (NASDAQ:ACDC) has earned an average recommendation of “Reduce” from the five research firms that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $5.50.

A number of research analysts recently issued reports on the stock. Piper Sandler raised their price objective on shares of ProFrac from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Monday, May 18th. Wall Street Zen lowered shares of ProFrac from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Morgan Stanley set a $5.00 price target on shares of ProFrac in a research report on Wednesday, July 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProFrac in a research note on Wednesday, June 24th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its position in shares of ProFrac by 7,241.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock valued at $27,000 after buying an additional 3,476 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of ProFrac in the second quarter valued at about $29,000. BNP Paribas Financial Markets raised its position in shares of ProFrac by 389.4% during the second quarter. BNP Paribas Financial Markets now owns 6,122 shares of the company’s stock worth $48,000 after acquiring an additional 4,871 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of ProFrac by 822.3% during the second quarter. Tower Research Capital LLC TRC now owns 11,234 shares of the company’s stock worth $87,000 after acquiring an additional 10,016 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of ProFrac in the fourth quarter worth approximately $46,000. 12.75% of the stock is owned by institutional investors.

ProFrac Trading Down 5.9%

Shares of ACDC stock opened at $4.01 on Tuesday. ProFrac has a twelve month low of $3.08 and a twelve month high of $8.22. The stock’s fifty day simple moving average is $6.03 and its 200 day simple moving average is $5.91. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $725.49 million, a P/E ratio of -1.57 and a beta of 1.42.

ProFrac (NASDAQ:ACDC) last posted 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). The firm had revenue of $449.60 million during the quarter, compared to the consensus estimate of $426.39 million. ProFrac had a negative net margin of 24.25% and a negative return on equity of 44.39%. As a group, sell-side analysts predict that ProFrac will post -1.16 EPS for the current fiscal year.

About ProFrac

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.