ProFrac (NASDAQ:ACDC) Stock Price Down 5.3% – Should You Sell?

ProFrac Holding Corp. (NASDAQ:ACDC)’s stock price fell 5.3% on Monday . The stock traded as low as $4.95 and last traded at $4.8750. Approximately 338,746 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 1,364,504 shares. The stock had previously closed at $5.15.

Wall Street Analyst Weigh In

ACDC has been the topic of a number of research analyst reports. Wall Street Zen cut shares of ProFrac from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Morgan Stanley boosted their target price on shares of ProFrac from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Wednesday, April 15th. Piper Sandler raised their price objective on ProFrac from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Monday, May 18th. UBS Group reiterated a “positive” rating on shares of ProFrac in a research note on Thursday, March 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProFrac in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $6.00.

ProFrac Price Performance

The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $918.17 million, a P/E ratio of -2.00 and a beta of 1.42. The business has a fifty day simple moving average of $6.69 and a 200 day simple moving average of $5.82.

ProFrac (NASDAQ:ACDC) last posted its earnings results on Thursday, May 7th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.10). The firm had revenue of $449.60 million during the quarter, compared to the consensus estimate of $426.39 million. ProFrac had a negative return on equity of 44.39% and a negative net margin of 24.25%. On average, analysts expect that ProFrac Holding Corp. will post -1.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ACDC. Bank of America Corp DE boosted its holdings in ProFrac by 186.9% in the 1st quarter. Bank of America Corp DE now owns 175,664 shares of the company’s stock valued at $1,089,000 after purchasing an additional 114,429 shares during the period. Quantinno Capital Management LP lifted its position in ProFrac by 94.4% in the 1st quarter. Quantinno Capital Management LP now owns 48,072 shares of the company’s stock worth $298,000 after buying an additional 23,347 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of ProFrac in the 1st quarter valued at $872,000. Sei Investments Co. grew its stake in shares of ProFrac by 91.6% during the first quarter. Sei Investments Co. now owns 99,986 shares of the company’s stock valued at $620,000 after buying an additional 47,800 shares during the last quarter. Finally, Walleye Capital LLC increased its stake in ProFrac by 328.6% in the 1st quarter. Walleye Capital LLC now owns 347,911 shares of the company’s stock worth $2,157,000 after purchasing an additional 266,742 shares during the period. Hedge funds and other institutional investors 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.