ProFrac Holding Corp. (NASDAQ:ACDC) Receives $7.50 Average Target Price from Analysts

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have been given a consensus rating of “Hold” by the four research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $7.50.

ACDC has been the topic of a number of recent research reports. Piper Sandler cut their price target on shares of ProFrac from $11.00 to $9.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Stifel Nicolaus lowered ProFrac from a “buy” rating to a “hold” rating and set a $7.00 price target on the stock. in a research report on Friday, October 11th. Morgan Stanley downgraded ProFrac from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $7.00 to $6.50 in a research report on Thursday, October 17th. Finally, Bank of America reiterated a “hold” rating and issued a $7.50 target price on shares of ProFrac in a report on Monday, October 14th.

ProFrac Price Performance

Shares of ACDC opened at $5.96 on Monday. The company has a quick ratio of 0.64, a current ratio of 1.01 and a debt-to-equity ratio of 0.85. The stock has a market cap of $954.49 million, a PE ratio of -4.48 and a beta of 0.81. ProFrac has a 12-month low of $5.16 and a 12-month high of $10.14. The business has a 50-day simple moving average of $6.54 and a two-hundred day simple moving average of $7.40.

ProFrac (NASDAQ:ACDC) last released its quarterly earnings data on Friday, August 9th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.12). ProFrac had a negative net margin of 8.58% and a negative return on equity of 2.30%. The firm had revenue of $579.40 million during the quarter, compared to analyst estimates of $624.64 million. Analysts anticipate that ProFrac will post -0.41 earnings per share for the current fiscal year.

Insider Activity

In other ProFrac news, major shareholder Holdings Lp Thrc purchased 130,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $6.49 per share, with a total value of $843,700.00. Following the completion of the purchase, the insider now owns 76,800,545 shares in the company, valued at $498,435,537.05. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired 1,933,600 shares of company stock valued at $12,207,161 in the last ninety days. 2.93% of the stock is owned by company insiders.

Institutional Investors Weigh In On ProFrac

Several hedge funds and other institutional investors have recently bought and sold shares of ACDC. nVerses Capital LLC bought a new position in ProFrac in the second quarter worth approximately $44,000. Delta Investment Management LLC increased its stake in ProFrac by 47.8% during 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 ProFrac during the second quarter worth $150,000. Susquehanna Fundamental Investments LLC bought a new position in shares of ProFrac in the first quarter valued at $357,000. Finally, Virtu Financial LLC acquired a new position in shares of ProFrac during the first quarter valued at about $401,000. 12.75% of the stock is owned by 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.