ProFrac Holding Corp. (NASDAQ:ACDC) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have received a consensus recommendation of “Moderate Buy” from the four brokerages that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $9.63.

A number of equities analysts have recently commented on ACDC shares. Piper Sandler cut their price target on shares of ProFrac from $11.00 to $9.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Stifel Nicolaus lowered their target price on shares of ProFrac from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, Bank of America lowered their target price on shares of ProFrac from $9.50 to $8.50 and set a “neutral” rating for the company in a research note on Monday, July 15th.

Insider Buying and Selling

In related news, major shareholder Holdings Lp Thrc purchased 411,383 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average cost of $6.03 per share, with a total value of $2,480,639.49. Following the completion of the purchase, the insider now owns 76,611,928 shares in the company, valued at approximately $461,969,925.84. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders bought 1,579,965 shares of company stock valued at $10,025,233 over the last quarter. Insiders own 2.93% of the company’s stock.

Institutional Investors Weigh In On ProFrac

Hedge funds and other institutional investors have recently bought and sold shares of the stock. nVerses Capital LLC bought a new stake in ProFrac in the second quarter valued at $44,000. Delta Investment Management LLC increased its stake in ProFrac by 47.8% in the first quarter. Delta Investment Management LLC now owns 15,469 shares of the company’s stock valued at $129,000 after purchasing an additional 5,000 shares in the last quarter. Squarepoint Ops LLC bought a new stake in ProFrac in the second quarter valued at $150,000. Jump Financial LLC bought a new stake in ProFrac in the fourth quarter valued at $179,000. Finally, Aristides Capital LLC bought a new stake in ProFrac in the fourth quarter valued at $279,000. 12.75% of the stock is owned by institutional investors.

ProFrac Price Performance

Shares of NASDAQ:ACDC opened at $6.12 on Friday. The firm has a market cap of $978.81 million, a PE ratio of -6.58 and a beta of 0.82. The firm’s fifty day moving average is $7.11 and its 200-day moving average is $7.82. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.64 and a current ratio of 1.01. ProFrac has a 52 week low of $5.59 and a 52 week high of $11.94.

ProFrac (NASDAQ:ACDC) last issued its quarterly earnings results on Friday, August 9th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). The business had revenue of $579.40 million for the quarter, compared to analyst estimates of $624.64 million. ProFrac had a negative return on equity of 2.30% and a negative net margin of 8.58%. Sell-side analysts predict that ProFrac will post 0.05 earnings per share 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.