ProFrac (NASDAQ:ACDC) Shares Down 4.5% – Should You Sell?

ProFrac Holding Corp. (NASDAQ:ACDC) shares traded down 4.5% on Friday . The stock traded as low as $7.38 and last traded at $7.26. 23,391 shares were traded during mid-day trading, a decline of 94% from the average session volume of 396,044 shares. The stock had previously closed at $7.60.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ACDC shares. Stifel Nicolaus reduced their price target on ProFrac from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. Bank of America reiterated a “hold” rating and issued a $7.50 price target on shares of ProFrac in a research note on Monday, October 14th. JPMorgan Chase & Co. lowered ProFrac from a “neutral” rating to an “underweight” rating and set a $7.00 price target on the stock. in a research note on Friday, December 6th. Finally, Morgan Stanley lowered shares of ProFrac from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $7.00 to $6.50 in a research report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $7.20.

ProFrac Trading Down 3.6 %

The company has a quick ratio of 0.62, a current ratio of 0.95 and a debt-to-equity ratio of 0.86. The stock has a market cap of $1.17 billion, a PE ratio of -5.17 and a beta of 1.20. The stock has a 50-day moving average of $8.02 and a 200 day moving average of $7.26.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Savant Capital LLC purchased a new position in shares of ProFrac during the 4th quarter valued at about $147,000. Empowered Funds LLC grew its stake in shares of ProFrac by 5.1% during the 4th quarter. Empowered Funds LLC now owns 582,767 shares of the company’s stock worth $4,522,000 after purchasing an additional 28,370 shares during the period. Bleakley Financial Group LLC purchased a new position in shares of ProFrac during the 4th quarter valued at approximately $455,000. Stratos Investment Management LLC acquired a new position in shares of ProFrac in the 4th quarter valued at $84,000. Finally, Catalina Capital Group LLC purchased a new stake in ProFrac during the fourth quarter worth $79,000. Hedge funds and other institutional investors 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.