ProFrac (ACDC) Set to Announce Quarterly Earnings on Tuesday

ProFrac (NASDAQ:ACDC) is scheduled to announce its earnings results before the market opens on Tuesday, November 5th. Analysts expect the company to announce earnings of ($0.14) per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

ProFrac (NASDAQ:ACDC) last issued its earnings results on Friday, August 9th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). ProFrac had a negative return on equity of 2.30% and a negative net margin of 8.58%. The company had revenue of $579.40 million for the quarter, compared to the consensus estimate of $624.64 million. On average, analysts expect ProFrac to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

ProFrac Price Performance

Shares of ACDC opened at $5.96 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.64 and a debt-to-equity ratio of 0.85. ProFrac has a 1 year low of $5.16 and a 1 year high of $10.14. The stock has a market cap of $954.49 million, a P/E ratio of -4.48 and a beta of 0.84. The stock’s 50-day moving average price is $6.54 and its two-hundred day moving average price is $7.40.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ACDC shares. Stifel Nicolaus cut ProFrac from a “buy” rating to a “hold” rating and set a $7.00 target price on the stock. in a report on Friday, October 11th. Piper Sandler cut their price objective on ProFrac from $11.00 to $9.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Bank of America reiterated a “hold” rating and set a $7.50 price objective on shares of ProFrac in a report on Monday, October 14th. Finally, Morgan Stanley cut ProFrac from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $7.00 to $6.50 in a report on Thursday, October 17th.

Insider Activity at ProFrac

In other news, major shareholder Holdings Lp Thrc bought 411,383 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average price of $6.03 per share, with a total value of $2,480,639.49. Following the transaction, the insider now owns 76,611,928 shares in the company, valued at $461,969,925.84. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have bought 1,933,600 shares of company stock valued at $12,207,161. 2.93% of the stock is owned by insiders.

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.