ProFrac (NASDAQ:ACDC) Shares Down 4.1% – What’s Next?

ProFrac Holding Corp. (NASDAQ:ACDC)’s share price traded down 4.1% during trading on Wednesday . The stock traded as low as $3.86 and last traded at $3.8550. 288,257 shares were traded during trading, a decline of 73% from the average session volume of 1,074,231 shares. The stock had previously closed at $4.02.

Wall Street Analyst Weigh In

Several research firms have issued reports on ACDC. Morgan Stanley set a $3.50 price objective on ProFrac in a research note on Monday, December 15th. Zacks Research lowered shares of ProFrac from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of ProFrac in a report on Monday. Finally, Piper Sandler reduced their price target on shares of ProFrac from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Thursday, October 16th. Two analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Strong Sell” and a consensus target price of $5.25.

ProFrac Price Performance

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 stock has a market capitalization of $703.58 million, a P/E ratio of -1.90 and a beta of 1.69. The company has a fifty day simple moving average of $4.11 and a two-hundred day simple moving average of $5.09.

ProFrac (NASDAQ:ACDC) last issued its quarterly earnings results 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 analyst estimates of $412.00 million. Sell-side analysts expect that ProFrac Holding Corp. will post -0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On ProFrac

Institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its stake in ProFrac by 7,241.7% in the second quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock valued at $27,000 after buying an additional 3,476 shares during the period. Farther Finance Advisors LLC acquired a new stake in shares of ProFrac in the 2nd quarter valued at approximately $29,000. Raymond James Financial Inc. acquired a new stake in shares of ProFrac in the 2nd quarter valued at approximately $29,000. BNP Paribas Financial Markets boosted its stake in ProFrac by 389.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,122 shares of the company’s stock worth $48,000 after acquiring an additional 4,871 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in ProFrac by 822.3% during the second quarter. Tower Research Capital LLC TRC now owns 11,234 shares of the company’s stock valued at $87,000 after purchasing an additional 10,016 shares during the period. 12.75% of the stock is owned by institutional investors and hedge funds.

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.