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

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have received an average recommendation of “Moderate Buy” from the four analysts that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $10.38.

ACDC has been the subject of a number of research reports. 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. Bank of America lowered their price objective on ProFrac from $9.50 to $8.50 and set a “neutral” rating for the company in a research report on Monday, July 15th.

Insider Buying and Selling at ProFrac

In related news, major shareholder Holdings Lp Thrc acquired 440,217 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were bought at an average price of $9.49 per share, for a total transaction of $4,177,659.33. Following the purchase, the insider now directly owns 75,640,762 shares in the company, valued at approximately $717,830,831.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.93% of the company’s stock.

Institutional Investors Weigh In On ProFrac

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its holdings in shares of ProFrac by 42.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,827 shares of the company’s stock worth $58,000 after acquiring an additional 2,034 shares during the last quarter. Delta Investment Management LLC increased its holdings in shares of ProFrac by 47.8% during the 1st quarter. Delta Investment Management LLC now owns 15,469 shares of the company’s stock worth $129,000 after acquiring an additional 5,000 shares during the last quarter. Jump Financial LLC acquired a new position in ProFrac in the 4th quarter valued at $179,000. Aristides Capital LLC acquired a new position in ProFrac in the 4th quarter valued at $279,000. Finally, Quest Partners LLC acquired a new position in ProFrac in the 4th quarter valued at $356,000. Institutional investors own 12.75% of the company’s stock.

ProFrac Stock Down 3.6 %

Shares of NASDAQ ACDC opened at $7.29 on Friday. The stock has a market cap of $1.17 billion, a PE ratio of -7.84 and a beta of 0.86. The business has a fifty day moving average of $8.21 and a two-hundred day moving average of $7.95. ProFrac has a 52-week low of $6.46 and a 52-week high of $14.23. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.71 and a current ratio of 1.07.

ProFrac (NASDAQ:ACDC) last released its quarterly earnings results on Friday, May 10th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. ProFrac had a negative return on equity of 1.00% and a negative net margin of 5.35%. The business had revenue of $581.50 million during the quarter, compared to analysts’ expectations of $587.60 million. As a group, equities research analysts expect that ProFrac will post 0.41 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.