ProFrac Holding Corp. (NASDAQ:ACDC) Receives $11.88 Average Target Price from Analysts

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have received a consensus recommendation of “Moderate Buy” from the four research firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $11.88.

A number of equities analysts have issued reports on the stock. Stifel Nicolaus reduced their price objective on shares of ProFrac from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, March 14th. Bank of America raised their price objective on shares of ProFrac from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Monday, April 15th.

ProFrac Price Performance

ACDC opened at $7.41 on Tuesday. ProFrac has a one year low of $6.46 and a one year high of $14.23. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.07 and a quick ratio of 0.71. The company’s 50 day simple moving average is $8.24 and its 200-day simple moving average is $8.03. The stock has a market capitalization of $1.19 billion, a P/E ratio of -7.97 and a beta of 0.93.

ProFrac (NASDAQ:ACDC) last released its quarterly earnings results on Friday, May 10th. The company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. ProFrac had a negative net margin of 5.35% and a negative return on equity of 1.00%. The business had revenue of $581.50 million for the quarter, compared to analysts’ expectations of $587.60 million. Sell-side analysts anticipate that ProFrac will post 0.58 earnings per share for the current fiscal year.

Insider Buying and Selling at ProFrac

In other news, major shareholder Holdings Lp Thrc bought 194,461 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were bought at an average cost of $9.28 per share, for a total transaction of $1,804,598.08. Following the completion of the acquisition, the insider now owns 74,935,006 shares in the company, valued at approximately $695,396,855.68. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, major shareholder Holdings Lp Thrc bought 194,461 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were bought at an average cost of $9.28 per share, for a total transaction of $1,804,598.08. Following the completion of the acquisition, the insider now owns 74,935,006 shares in the company, valued at approximately $695,396,855.68. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Farris Wilks bought 330,000 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was purchased at an average price of $22.08 per share, for a total transaction of $7,286,400.00. Following the completion of the acquisition, the insider now owns 58,541,444 shares of the company’s stock, valued at approximately $1,292,595,083.52. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 964,678 shares of company stock valued at $13,268,657. 2.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its position in ProFrac by 42.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,827 shares of the company’s stock valued at $58,000 after purchasing an additional 2,034 shares in the last quarter. Delta Investment Management LLC grew its position in shares of 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 acquiring an additional 5,000 shares during the period. Jump Financial LLC bought a new stake in shares of ProFrac during the 4th quarter worth about $179,000. Aristides Capital LLC bought a new stake in shares of ProFrac during the 4th quarter worth about $279,000. Finally, Quest Partners LLC bought a new stake in shares of ProFrac during the 4th quarter worth about $356,000. Institutional investors 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.