ProFrac Holding Corp. (NASDAQ:ACDC) Short Interest Down 6.2% in April

ProFrac Holding Corp. (NASDAQ:ACDC) saw a large drop in short interest in April. As of April 15th, there was short interest totalling 5,310,000 shares, a drop of 6.2% from the March 31st total of 5,660,000 shares. Based on an average daily trading volume, of 937,400 shares, the days-to-cover ratio is currently 5.7 days.

Institutional Trading of ProFrac

A number of large investors have recently added to or reduced their stakes in the company. First Financial Bankshares Inc bought a new stake in ProFrac in the 4th quarter worth approximately $8,580,000. CastleKnight Management LP bought a new position in shares of ProFrac during the 4th quarter valued at approximately $956,000. Aristides Capital LLC bought a new position in shares of ProFrac during the 4th quarter valued at approximately $279,000. Tower Research Capital LLC TRC increased its position in shares of ProFrac by 42.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,827 shares of the company’s stock valued at $58,000 after purchasing an additional 2,034 shares during the last quarter. Finally, Quest Partners LLC bought a new position in shares of ProFrac during the 4th quarter valued at approximately $356,000. Institutional investors own 12.75% of the company’s stock.

ProFrac Stock Down 2.7 %

NASDAQ ACDC opened at $8.01 on Tuesday. The stock’s 50 day moving average is $8.13 and its 200 day moving average is $8.15. The company has a current ratio of 0.98, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. ProFrac has a 12 month low of $6.46 and a 12 month high of $14.32. The stock has a market cap of $1.28 billion, a PE ratio of -15.11 and a beta of 0.71.

ProFrac (NASDAQ:ACDC) last posted its quarterly earnings results on Friday, March 15th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.23). ProFrac had a positive return on equity of 3.04% and a negative net margin of 3.98%. The business had revenue of $489.10 million during the quarter, compared to analysts’ expectations of $594.17 million. Research analysts predict that ProFrac will post 0.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ACDC shares. Bank of America raised their target price on ProFrac from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Stifel Nicolaus dropped their target price on ProFrac from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, March 14th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $12.50.

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.