ProFrac Holding Corp. (NASDAQ:ACDC) Given Average Recommendation of “Moderate Buy” by Brokerages

ProFrac Holding Corp. (NASDAQ:ACDC) has been given an average recommendation of “Moderate Buy” by the four brokerages that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $9.63.

A number of equities analysts recently commented on ACDC shares. Stifel Nicolaus reduced their price objective on ProFrac from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Bank of America cut their price target on shares of ProFrac from $9.50 to $8.50 and set a “neutral” rating for the company in a report on Monday, July 15th. Finally, Piper Sandler lowered their price objective on ProFrac from $11.00 to $9.00 and set an “overweight” rating for the company in a research report on Monday, July 15th.

Insider Transactions at ProFrac

In other news, major shareholder Holdings Lp Thrc purchased 130,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $6.49 per share, for a total transaction of $843,700.00. Following the completion of the transaction, the insider now directly owns 76,800,545 shares in the company, valued at approximately $498,435,537.05. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders have purchased 1,412,495 shares of company stock worth $8,986,811. 2.93% of the stock is currently owned by insiders.

Institutional Trading of ProFrac

Several hedge funds have recently made changes to their positions in ACDC. nVerses Capital LLC acquired a new stake in shares of ProFrac in the second quarter valued at $44,000. Delta Investment Management LLC raised its position in ProFrac by 47.8% in the 1st quarter. Delta Investment Management LLC now owns 15,469 shares of the company’s stock valued at $129,000 after purchasing an additional 5,000 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of ProFrac during the second quarter worth about $150,000. Jump Financial LLC purchased a new stake in shares of ProFrac during the fourth quarter worth approximately $179,000. Finally, Aristides Capital LLC acquired a new stake in ProFrac in the fourth quarter valued at approximately $279,000. Institutional investors and hedge funds own 12.75% of the company’s stock.

ProFrac Price Performance

Shares of NASDAQ ACDC opened at $6.44 on Friday. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -6.92 and a beta of 0.81. ProFrac has a 52 week low of $5.59 and a 52 week high of $11.94. The firm has a 50-day simple moving average of $7.21 and a 200-day simple moving average of $7.85. The company has a quick ratio of 0.64, a current ratio of 1.01 and a debt-to-equity ratio of 0.85.

ProFrac (NASDAQ:ACDC) last released its earnings results on Friday, August 9th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). The business had revenue of $579.40 million during the quarter, compared to analysts’ expectations of $624.64 million. ProFrac had a negative return on equity of 2.30% and a negative net margin of 8.58%. On average, equities analysts predict that ProFrac will post 0.05 earnings per share 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.