ProFrac Holding Corp. (NASDAQ:ACDC) Given Average Recommendation of “Strong Sell” by Analysts

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have earned an average rating of “Strong Sell” from the six brokerages that are covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $5.50.

Several brokerages recently weighed in on ACDC. Piper Sandler decreased their target price on ProFrac from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Thursday, October 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of ProFrac in a report on Tuesday, November 25th. Zacks Research cut shares of ProFrac from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. Finally, Morgan Stanley set a $4.50 target price on shares of ProFrac and gave the stock an “underweight” rating in a report on Friday, October 17th.

ProFrac Price Performance

Shares of NASDAQ:ACDC opened at $4.24 on Monday. The stock has a market cap of $766.89 million, a price-to-earnings ratio of -2.07 and a beta of 1.72. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.91 and a quick ratio of 0.63. ProFrac has a 12 month low of $3.08 and a 12 month high of $10.70. The stock’s 50 day moving average price is $4.08 and its 200 day moving average price is $5.59.

ProFrac (NASDAQ:ACDC) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.17). ProFrac had a negative net margin of 16.86% and a negative return on equity of 32.01%. The firm had revenue of $403.10 million for the quarter, compared to the consensus estimate of $412.00 million. Equities research analysts anticipate that ProFrac will post -0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ProFrac

A number of institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its stake in shares of 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 in the last quarter. Farther Finance Advisors LLC purchased a new stake in shares of ProFrac during the second quarter valued at $29,000. Raymond James Financial Inc. acquired a new position in shares of ProFrac in the 2nd quarter valued at $29,000. BNP Paribas Financial Markets boosted its position in shares of ProFrac by 389.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 6,122 shares of the company’s stock valued at $48,000 after purchasing an additional 4,871 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in ProFrac by 822.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,234 shares of the company’s stock worth $87,000 after purchasing an additional 10,016 shares in the last quarter. Institutional investors and hedge funds own 12.75% of the company’s stock.

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.