ProFrac Holding Corp. (NASDAQ:ACDC) Receives $5.83 Average Price Target from Brokerages

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have been assigned an average recommendation of “Reduce” from the six analysts that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $5.8333.

Several brokerages have weighed in on ACDC. Wall Street Zen downgraded ProFrac from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProFrac in a research report on Friday, March 27th. UBS Group reiterated a “positive” rating on shares of ProFrac in a research note on Thursday, March 12th. Zacks Research upgraded shares of ProFrac from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 21st. Finally, Morgan Stanley lifted their price objective on shares of ProFrac from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 15th.

ProFrac Price Performance

NASDAQ ACDC opened at $6.78 on Thursday. The firm’s fifty day simple moving average is $6.33 and its two-hundred day simple moving average is $5.12. The firm has a market capitalization of $1.23 billion, a P/E ratio of -2.66 and a beta of 1.51. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.08. ProFrac has a 12-month low of $3.08 and a 12-month high of $10.70.

ProFrac (NASDAQ:ACDC) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.10). ProFrac had a negative return on equity of 42.04% and a negative net margin of 24.25%.The business had revenue of $449.60 million during the quarter, compared to analyst estimates of $426.39 million. Analysts forecast that ProFrac will post -1.2 EPS for the current fiscal year.

Institutional Trading of ProFrac

Several large investors have recently added to or reduced their stakes in ACDC. Creative Planning purchased a new position in shares of ProFrac in the second quarter worth about $102,000. JPMorgan Chase & Co. increased its holdings in ProFrac by 818.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 101,191 shares of the company’s stock worth $785,000 after buying an additional 90,176 shares during the period. EverSource Wealth Advisors LLC increased its holdings in ProFrac by 7,241.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock worth $27,000 after buying an additional 3,476 shares during the period. First Trust Advisors LP purchased a new position in ProFrac during the 2nd quarter worth approximately $553,000. Finally, Sei Investments Co. lifted its stake in ProFrac by 17.7% during the 2nd quarter. Sei Investments Co. now owns 41,305 shares of the company’s stock valued at $321,000 after acquiring an additional 6,200 shares during the period. 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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.