Analysts Set ProFrac Holding Corp. (NASDAQ:ACDC) PT at $5.50

ProFrac Holding Corp. (NASDAQ:ACDC) has received a consensus recommendation of “Reduce” from the five ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $5.50.

A number of research analysts have recently commented on the company. Morgan Stanley set a $5.00 target price on ProFrac in a research note on Wednesday, July 15th. Piper Sandler raised their price target on ProFrac from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Monday, May 18th. Weiss Ratings restated a “sell (d-)” rating on shares of ProFrac in a report on Wednesday, June 24th. Finally, Wall Street Zen downgraded ProFrac from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Walleye Capital LLC lifted its holdings in shares of ProFrac by 3.6% in the 4th quarter. Walleye Capital LLC now owns 81,169 shares of the company’s stock worth $316,000 after buying an additional 2,785 shares during the period. Vanguard Group Inc. grew its position in shares of ProFrac by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 427,063 shares of the company’s stock worth $1,580,000 after buying an additional 3,003 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of ProFrac by 3.5% during the third quarter. Dimensional Fund Advisors LP now owns 96,957 shares of the company’s stock valued at $359,000 after buying an additional 3,318 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of 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 buying an additional 3,476 shares during the period. Finally, Intech Investment Management LLC raised its holdings 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 acquiring an additional 3,514 shares in the last quarter. 12.75% of the stock is currently owned by institutional investors.

ProFrac Stock Performance

Shares of NASDAQ:ACDC opened at $4.55 on Tuesday. The company has a market capitalization of $823.19 million, a price-to-earnings ratio of -1.78 and a beta of 1.42. ProFrac has a 12 month low of $3.08 and a 12 month high of $8.30. The firm’s 50-day moving average is $6.17 and its 200 day moving average is $5.91. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27.

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 44.39% and a negative net margin of 24.25%.The firm had revenue of $449.60 million during the quarter, compared to analysts’ expectations of $426.39 million. Research analysts predict that ProFrac will post -1.16 EPS for the current year.

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.