ProFrac Holding Corp. (NASDAQ:ACDC) Receives Consensus Recommendation of “Strong Sell” from Brokerages

ProFrac Holding Corp. (NASDAQ:ACDC) has received an average rating of “Strong Sell” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $5.25.

ACDC has been the subject of several research analyst reports. Piper Sandler cut their price objective on ProFrac from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Thursday, October 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of ProFrac in a research report on Monday. Morgan Stanley set a $3.50 price target on shares of ProFrac in a research report on Monday, December 15th. Finally, Zacks Research cut shares of ProFrac from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th.

Institutional Investors Weigh In On ProFrac

Several institutional investors and hedge funds have recently modified their holdings of ACDC. Nuveen LLC bought a new position in shares of ProFrac during the 1st quarter valued at approximately $444,000. Walleye Capital LLC purchased a new stake in ProFrac during the first quarter valued at $97,000. Bridgeway Capital Management LLC lifted its position in ProFrac by 10.6% during the first quarter. Bridgeway Capital Management LLC now owns 1,167,180 shares of the company’s stock valued at $8,859,000 after purchasing an additional 111,913 shares during the last quarter. Empowered Funds LLC grew its stake in shares of ProFrac by 2.0% in the 1st quarter. Empowered Funds LLC now owns 594,680 shares of the company’s stock worth $4,514,000 after buying an additional 11,913 shares in the last quarter. Finally, Farther Finance Advisors LLC bought a new stake in shares of ProFrac in the 2nd quarter worth about $29,000. Institutional investors own 12.75% of the company’s stock.

ProFrac Trading Down 3.2%

Shares of ACDC opened at $3.89 on Friday. ProFrac has a 1-year low of $3.08 and a 1-year high of $10.70. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 0.96. The firm’s 50-day moving average price is $4.11 and its 200-day moving average price is $5.09. The firm has a market capitalization of $703.58 million, a price-to-earnings ratio of -1.90 and a beta of 1.69.

ProFrac (NASDAQ:ACDC) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.17). ProFrac had a negative return on equity of 32.01% and a negative net margin of 16.86%.The business had revenue of $403.10 million for the quarter, compared to the consensus estimate of $412.00 million. Sell-side analysts anticipate that ProFrac will post -0.5 EPS 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.