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

ProFrac Holding Corp. (NASDAQ:ACDC) has been given a consensus recommendation of “Moderate Buy” by the four analysts that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $10.38.

Several research firms have recently weighed in on ACDC. Bank of America decreased their price objective on ProFrac from $9.50 to $8.50 and set a “neutral” rating for the company in a report on Monday, July 15th. Piper Sandler dropped their price objective on shares of ProFrac from $11.00 to $9.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th.

ProFrac Trading Up 0.5 %

Shares of ProFrac stock opened at $8.35 on Friday. The company has a fifty day simple moving average of $8.19 and a 200-day simple moving average of $7.96. ProFrac has a 12-month low of $6.46 and a 12-month high of $14.23. The company has a current ratio of 1.07, a quick ratio of 0.71 and a debt-to-equity ratio of 0.72. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -8.98 and a beta of 0.86.

ProFrac (NASDAQ:ACDC) last issued its quarterly earnings data on Friday, May 10th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $581.50 million for the quarter, compared to analyst estimates of $587.60 million. ProFrac had a negative return on equity of 1.00% and a negative net margin of 5.35%. On average, equities analysts forecast that ProFrac will post 0.41 EPS for the current fiscal year.

Insider Activity

In other ProFrac news, major shareholder Holdings Lp Thrc acquired 440,217 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was purchased at an average price of $9.49 per share, for a total transaction of $4,177,659.33. Following the completion of the transaction, the insider now owns 75,640,762 shares of the company’s stock, valued at approximately $717,830,831.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.93% of the company’s stock.

Institutional Trading of ProFrac

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its holdings in ProFrac by 12.1% in the second quarter. Bank of New York Mellon Corp now owns 117,720 shares of the company’s stock valued at $872,000 after buying an additional 12,683 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of ProFrac in the 1st quarter worth approximately $401,000. Delta Investment Management LLC increased its stake 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. Susquehanna Fundamental Investments LLC acquired a new stake in ProFrac in the first quarter valued at $357,000. Finally, First Financial Bankshares Inc purchased a new position in shares of ProFrac in the fourth quarter valued at $8,580,000. Institutional investors and hedge funds own 12.75% of the company’s stock.

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.