Analysts Set ProFrac Holding Corp. (NASDAQ:ACDC) PT at $7.50

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have been assigned an average recommendation of “Hold” from the four brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $7.50.

A number of research analysts recently commented on the stock. Stifel Nicolaus downgraded shares of ProFrac from a “buy” rating to a “hold” rating and set a $7.00 price target for the company. in a report on Friday, October 11th. Bank of America reaffirmed a “hold” rating and issued a $7.50 price objective on shares of ProFrac in a research note on Monday, October 14th. Morgan Stanley downgraded ProFrac from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $7.00 to $6.50 in a research report on Thursday, October 17th. Finally, Piper Sandler dropped their price objective on shares of ProFrac from $11.00 to $9.00 and set an “overweight” rating for the company in a research note on Monday, July 15th.

ProFrac Stock Up 0.2 %

Shares of ACDC stock opened at $5.96 on Monday. The company’s fifty day simple moving average is $6.54 and its two-hundred day simple moving average is $7.39. ProFrac has a 52 week low of $5.16 and a 52 week high of $10.14. The stock has a market cap of $954.48 million, a P/E ratio of -4.48 and a beta of 0.84. The company has a quick ratio of 0.64, a current ratio of 1.01 and a debt-to-equity ratio of 0.85.

ProFrac (NASDAQ:ACDC) last posted its earnings results on Friday, August 9th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). ProFrac had a negative net margin of 8.58% and a negative return on equity of 2.30%. The firm had revenue of $579.40 million for the quarter, compared to the consensus estimate of $624.64 million. Analysts predict that ProFrac will post -0.41 EPS for the current fiscal year.

Insider Activity at ProFrac

In other ProFrac news, major shareholder Holdings Lp Thrc bought 130,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $6.49 per share, for a total transaction of $843,700.00. Following the completion of the transaction, the insider now owns 76,800,545 shares in the company, valued at $498,435,537.05. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired a total of 1,933,600 shares of company stock worth $12,207,161 in the last quarter. 2.93% of the stock is owned by company insiders.

Institutional Investors Weigh In On ProFrac

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP increased its position in shares of ProFrac by 1,632.1% during the second quarter. Marshall Wace LLP now owns 242,491 shares of the company’s stock worth $1,797,000 after acquiring an additional 228,491 shares during the period. American Century Companies Inc. increased its holdings in ProFrac by 72.0% during the 2nd quarter. American Century Companies Inc. now owns 315,689 shares of the company’s stock worth $2,339,000 after purchasing an additional 132,108 shares during the period. Point72 Asset Management L.P. bought a new stake in ProFrac during the 2nd quarter valued at $365,000. Virtu Financial LLC purchased a new stake in shares of ProFrac in the 1st quarter worth $401,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of ProFrac during the 1st quarter worth $357,000. 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.