ProFrac (NASDAQ:ACDC) Trading 7.6% Higher – Time to Buy?

ProFrac Holding Corp. (NASDAQ:ACDC)’s share price rose 7.6% during mid-day trading on Tuesday . The company traded as high as $4.43 and last traded at $4.4350. Approximately 405,164 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 1,083,445 shares. The stock had previously closed at $4.12.

Analyst Ratings Changes

ACDC has been the topic of several analyst reports. Morgan Stanley set a $4.50 price target on shares of ProFrac and gave the stock an “underweight” rating in a report on Friday, October 17th. Weiss Ratings restated a “sell (e+)” rating on shares of ProFrac in a research note on Tuesday, November 25th. Piper Sandler decreased their price objective on shares of ProFrac from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Thursday, October 16th. Finally, Zacks Research downgraded shares of ProFrac from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. Two analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Strong Sell” and a consensus target price of $5.50.

ProFrac Trading Up 7.1%

The company has a debt-to-equity ratio of 0.96, a current ratio of 0.91 and a quick ratio of 0.63. The stock has a market cap of $797.82 million, a PE ratio of -2.15 and a beta of 1.72. The company’s fifty day moving average is $4.09 and its 200-day moving average is $5.58.

ProFrac (NASDAQ:ACDC) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.17). The company had revenue of $403.10 million for the quarter, compared to analysts’ expectations of $412.00 million. ProFrac had a negative net margin of 16.86% and a negative return on equity of 32.01%. On average, analysts predict that ProFrac Holding Corp. will post -0.5 earnings per share for the current fiscal year.

Institutional Trading of ProFrac

A number of institutional investors and hedge funds have recently made changes to their positions in ACDC. Vanguard Group Inc. grew its stake in ProFrac by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 427,063 shares of the company’s stock valued at $1,580,000 after acquiring an additional 3,003 shares during the period. Dimensional Fund Advisors LP raised its position in ProFrac by 3.5% during the third quarter. Dimensional Fund Advisors LP now owns 96,957 shares of the company’s stock worth $359,000 after acquiring an additional 3,318 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in ProFrac by 7,241.7% during the second quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock valued at $27,000 after purchasing an additional 3,476 shares in the last quarter. Intech Investment Management LLC grew its position in shares of ProFrac by 27.2% in the third quarter. Intech Investment Management LLC now owns 16,434 shares of the company’s stock valued at $61,000 after purchasing an additional 3,514 shares during the period. Finally, Farther Finance Advisors LLC acquired a new stake in shares of ProFrac in the second quarter valued at about $29,000. 12.75% of the stock is currently owned by hedge funds and other institutional investors.

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.