Brokerages Set ProFrac Holding Corp. (NASDAQ:ACDC) PT at $9.63

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have received an average recommendation of “Moderate Buy” from the four research firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $9.63.

Several research analysts have recently commented on ACDC shares. Piper Sandler lowered their target price 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 decreased their price objective on shares of ProFrac from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, Bank of America decreased their price objective on shares of ProFrac from $9.50 to $8.50 and set a “neutral” rating on the stock in a research note on Monday, July 15th.

Insider Activity at ProFrac

In other news, major shareholder Holdings Lp Thrc acquired 130,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired 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 directly owns 76,800,545 shares of the company’s stock, valued at approximately $498,435,537.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought 1,579,965 shares of company stock valued at $10,025,233 over the last three months. 2.93% of the stock is owned by insiders.

Institutional Trading of ProFrac

A number of hedge funds have recently added to or reduced their stakes in ACDC. First Financial Bankshares Inc acquired a new stake in ProFrac in the fourth quarter valued at approximately $8,580,000. Marshall Wace LLP boosted its position in ProFrac by 1,632.1% in the second quarter. Marshall Wace LLP now owns 242,491 shares of the company’s stock valued at $1,797,000 after buying an additional 228,491 shares in the last quarter. American Century Companies Inc. boosted its position in ProFrac by 72.0% in the second quarter. American Century Companies Inc. now owns 315,689 shares of the company’s stock valued at $2,339,000 after buying an additional 132,108 shares in the last quarter. Russell Investments Group Ltd. boosted its position in ProFrac by 712.8% in the fourth quarter. Russell Investments Group Ltd. now owns 149,100 shares of the company’s stock valued at $1,264,000 after buying an additional 130,757 shares in the last quarter. Finally, CastleKnight Management LP acquired a new stake in ProFrac in the fourth quarter valued at approximately $956,000. Institutional investors and hedge funds own 12.75% of the company’s stock.

ProFrac Stock Up 4.8 %

Shares of ACDC opened at $6.12 on Friday. ProFrac has a 12 month low of $5.59 and a 12 month high of $11.94. The firm’s 50 day moving average is $7.11 and its 200-day moving average is $7.82. The stock has a market capitalization of $978.81 million, a PE ratio of -6.58 and a beta of 0.82. The company has a current ratio of 1.01, a quick ratio of 0.64 and a debt-to-equity ratio of 0.85.

ProFrac (NASDAQ:ACDC) last announced its earnings results on Friday, August 9th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.12). ProFrac had a negative return on equity of 2.30% and a negative net margin of 8.58%. The business had revenue of $579.40 million for the quarter, compared to the consensus estimate of $624.64 million. Equities research analysts forecast that ProFrac will post 0.05 EPS for the current year.

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.