ProFrac (NASDAQ:ACDC) Given New $6.00 Price Target at Stifel Nicolaus

ProFrac (NASDAQ:ACDC) had its target price decreased by research analysts at Stifel Nicolaus from $7.00 to $6.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential downside of 24.05% from the stock’s previous close.

Several other research firms have also issued reports on ACDC. Bank of America restated a “hold” rating and set a $7.50 price target on shares of ProFrac in a report on Monday, October 14th. Morgan Stanley downgraded shares of ProFrac from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $7.00 to $6.50 in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. cut shares of ProFrac from a “neutral” rating to an “underweight” rating and set a $7.00 price target on the stock. in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.20.

ProFrac Trading Up 3.0 %

Shares of ACDC stock opened at $7.90 on Monday. The stock has a 50-day moving average of $7.52 and a 200-day moving average of $7.16. The company has a current ratio of 0.95, a quick ratio of 0.62 and a debt-to-equity ratio of 0.86. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -5.60 and a beta of 1.20. ProFrac has a 1-year low of $5.16 and a 1-year high of $9.75.

Hedge Funds Weigh In On ProFrac

Several institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in shares of ProFrac by 110.7% in the 4th quarter. GAMMA Investing LLC now owns 5,749 shares of the company’s stock valued at $45,000 after buying an additional 3,021 shares during the period. Barclays PLC grew its stake in ProFrac by 213.6% in the third quarter. Barclays PLC now owns 29,215 shares of the company’s stock valued at $199,000 after acquiring an additional 19,898 shares during the period. Arete Wealth Advisors LLC increased its holdings in shares of ProFrac by 478.8% during the third quarter. Arete Wealth Advisors LLC now owns 130,447 shares of the company’s stock valued at $874,000 after acquiring an additional 107,908 shares in the last quarter. Quantinno Capital Management LP bought a new stake in shares of ProFrac during the third quarter valued at approximately $100,000. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in ProFrac by 114.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 831,320 shares of the company’s stock valued at $5,645,000 after purchasing an additional 443,530 shares in the last quarter. Institutional investors and hedge funds 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.