Brokerages Set ProFrac Holding Corp. (NASDAQ:ACDC) Target Price at $5.25

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have received a consensus recommendation of “Reduce” from the five ratings firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $5.25.

Several brokerages have recently weighed in on ACDC. Piper Sandler upped their price objective on shares of ProFrac from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Monday, May 18th. Wall Street Zen raised ProFrac from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProFrac in a report on Wednesday, June 24th. Finally, Morgan Stanley reduced their price objective on ProFrac from $5.00 to $4.50 and set an “underweight” rating for the company in a research note on Thursday, August 20th.

ProFrac Price Performance

Shares of NASDAQ ACDC opened at $5.21 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.84 and a debt-to-equity ratio of 1.42. The firm has a market cap of $948.85 million, a PE ratio of -2.24 and a beta of 1.49. The company’s fifty day simple moving average is $4.81 and its 200 day simple moving average is $5.86. ProFrac has a 12-month low of $3.08 and a 12-month high of $8.22.

Insider Activity at ProFrac

In other ProFrac news, CEO Matthew Wilks purchased 22,481 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was acquired at an average price of $5.44 per share, for a total transaction of $122,296.64. Following the purchase, the chief executive officer owned 502,097 shares of the company’s stock, valued at $2,731,407.68. This trade represents a 4.69% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Dan H. Wilks acquired 30,820 shares of the stock in a transaction on Tuesday, August 25th. The shares were acquired at an average price of $4.81 per share, for a total transaction of $148,244.20. Following the acquisition, the insider owned 88,107,422 shares of the company’s stock, valued at approximately $423,796,699.82. The trade was a 0.03% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 2,014,454 shares of company stock valued at $9,750,117. 2.23% of the stock is owned by company insiders.

Hedge Funds Weigh In On ProFrac

Several large investors have recently added to or reduced their stakes in ACDC. EverSource Wealth Advisors LLC boosted its holdings in ProFrac by 7,241.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock worth $27,000 after acquiring an additional 3,476 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in ProFrac in the 2nd quarter worth about $29,000. Allworth Financial LP raised its position in shares of ProFrac by 88.8% in the second quarter. Allworth Financial LP now owns 6,658 shares of the company’s stock valued at $39,000 after purchasing an additional 3,131 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of ProFrac during the third quarter worth $45,000. Finally, Price T Rowe Associates Inc. MD bought a new position in ProFrac in the 4th quarter worth about $46,000. Institutional investors own 12.75% of the company’s stock.

ProFrac Company Profile

ProFrac Holding Corp. (NASDAQ: ACDC) is an energy services company that provides hydraulic fracturing and other well-completion services to oil and natural gas exploration and production companies. Its services are used primarily during the development of unconventional wells, including shale and tight-oil formations.

The company operates a vertically integrated business that includes stimulation services, proppant production and equipment manufacturing. Its offerings include hydraulic fracturing fleets, frac sand and other proppants, well-completion chemicals, and related equipment and services designed to support the drilling and completion process.

ProFrac serves customers in major U.S.