Analysts Set ProFrac Holding Corp. (NASDAQ:ACDC) Price Target at $6.00

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have received a consensus recommendation of “Reduce” from the five brokerages that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $6.00.

A number of equities research analysts recently commented on the stock. Piper Sandler raised their price objective on shares of ProFrac from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Monday, May 18th. Wall Street Zen downgraded shares of ProFrac from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. UBS Group restated a “positive” rating on shares of ProFrac in a research report on Thursday, March 12th. Weiss Ratings restated a “sell (d-)” rating on shares of ProFrac in a research report on Wednesday, June 24th. Finally, Morgan Stanley raised their price objective 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.

Institutional Investors Weigh In On ProFrac

Hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in ProFrac by 7,241.7% in the second quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock valued at $27,000 after purchasing an additional 3,476 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of ProFrac during the 2nd quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of ProFrac during the 3rd quarter valued at approximately $45,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of ProFrac during the 4th quarter valued at approximately $46,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of ProFrac during the 4th quarter valued at approximately $47,000. Institutional investors and hedge funds own 12.75% of the company’s stock.

ProFrac Price Performance

Shares of ACDC opened at $5.81 on Friday. ProFrac has a fifty-two week low of $3.08 and a fifty-two week high of $8.49. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -2.28 and a beta of 1.41. The firm has a 50-day simple moving average of $6.88 and a 200-day simple moving average of $5.79. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.82.

ProFrac (NASDAQ:ACDC) last announced its earnings results on Thursday, May 7th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $449.60 million for the quarter, compared to analyst estimates of $426.39 million. On average, equities research analysts anticipate that ProFrac will post -1.15 earnings per share for the current year.

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.