ProFrac (NASDAQ:ACDC) Shares Gap Up to $7.09

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) gapped up before the market opened on Thursday . The stock had previously closed at $7.09, but opened at $7.94. ProFrac shares last traded at $7.84, with a volume of 519,792 shares.

Analysts Set New Price Targets

A number of analysts recently weighed in on ACDC shares. Bank of America raised their price target on shares of ProFrac from $8.50 to $9.50 and gave the company a “neutral” rating in a report on Monday, April 15th. Stifel Nicolaus dropped their price objective on ProFrac from $12.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, March 14th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.50.

ProFrac Stock Up 15.9 %

The business has a fifty day moving average of $8.05 and a 200 day moving average of $8.04. The company has a quick ratio of 0.62, a current ratio of 0.98 and a debt-to-equity ratio of 0.74. The firm has a market cap of $1.31 billion, a P/E ratio of -13.38 and a beta of 0.76.

ProFrac (NASDAQ:ACDC) last posted its earnings results on Friday, March 15th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.23). ProFrac had a positive return on equity of 3.04% and a negative net margin of 3.98%. The company had revenue of $489.10 million for the quarter, compared to analyst estimates of $594.17 million. On average, equities research analysts predict that ProFrac Holding Corp. will post 0.84 EPS for the current year.

Institutional Trading of ProFrac

Several hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its stake in ProFrac by 42.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,827 shares of the company’s stock valued at $58,000 after acquiring an additional 2,034 shares during the period. Peoples Bank KS acquired a new position in shares of ProFrac in the 3rd quarter valued at approximately $33,000. Delta Investment Management LLC grew its position in shares of 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 during the period. Bank of New York Mellon Corp increased its stake in ProFrac by 5.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 172,244 shares of the company’s stock worth $1,874,000 after purchasing an additional 8,265 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in ProFrac during the 3rd quarter worth approximately $159,000. 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.