ProFrac Holding Corp. (NASDAQ:ACDC) Receives $5.38 Consensus Price Target from Brokerages

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have earned an average recommendation of “Reduce” from the six brokerages that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $5.3750.

A number of analysts have recently commented on the company. Morgan Stanley restated an “underweight” rating and set a $4.00 price objective on shares of ProFrac in a report on Wednesday, January 21st. Zacks Research upgraded ProFrac from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProFrac in a research note on Monday, December 29th. Finally, Piper Sandler decreased their target price on ProFrac from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Thursday, October 16th.

ProFrac Price Performance

ACDC opened at $5.21 on Tuesday. ProFrac has a 1 year low of $3.08 and a 1 year high of $10.70. The company’s 50 day simple moving average is $4.19 and its 200 day simple moving average is $4.53. The stock has a market capitalization of $942.33 million, a PE ratio of -2.54 and a beta of 1.69. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.63 and a current ratio of 0.91.

ProFrac (NASDAQ:ACDC) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.17). The company had revenue of $403.10 million for the quarter, compared to analyst estimates of $412.00 million. ProFrac had a negative return on equity of 32.01% and a negative net margin of 16.86%. As a group, sell-side analysts expect that ProFrac will post -0.5 EPS for the current year.

Institutional Investors Weigh In On ProFrac

Large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its holdings in shares of ProFrac by 7,241.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock valued at $27,000 after acquiring an additional 3,476 shares in the last quarter. Farther Finance Advisors LLC purchased a new position in ProFrac in the second quarter valued at about $29,000. Raymond James Financial Inc. purchased a new position in ProFrac in the second quarter valued at about $29,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of ProFrac during the third quarter worth about $45,000. Finally, AXQ Capital LP purchased a new stake in shares of ProFrac in the third quarter worth about $48,000. Institutional investors and hedge funds 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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.