ProFrac Holding Corp. (NASDAQ:ACDC) Receives Average Recommendation of “Reduce” from Brokerages

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have been assigned an average rating of “Reduce” from the six ratings firms that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $5.3750.

A number of research analysts have recently issued reports on ACDC shares. Zacks Research raised ProFrac from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of ProFrac in a research note on Monday, December 29th. Piper Sandler cut their price target on ProFrac from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Thursday, October 16th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $4.00 price objective on shares of ProFrac in a research note on Wednesday, January 21st.

ProFrac Stock Up 2.4%

Shares of NASDAQ:ACDC opened at $5.17 on Tuesday. The firm has a market cap of $935.10 million, a P/E ratio of -2.52 and a beta of 1.69. ProFrac has a 12-month low of $3.08 and a 12-month high of $10.70. The business has a fifty day simple moving average of $4.06 and a 200 day simple moving average of $4.59. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 0.96.

ProFrac (NASDAQ:ACDC) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $403.10 million during the quarter, compared to analyst estimates of $412.00 million. Analysts predict that ProFrac will post -0.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ACDC. Merit Financial Group LLC bought a new position in ProFrac in the 4th quarter valued at about $48,000. CWM LLC raised its stake in shares of ProFrac by 110.1% in the fourth quarter. CWM LLC now owns 56,604 shares of the company’s stock worth $220,000 after purchasing an additional 29,659 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in ProFrac by 104.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 28,742 shares of the company’s stock worth $121,000 after buying an additional 14,676 shares in the last quarter. JPMorgan Chase & Co. raised its position in ProFrac by 125.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 228,477 shares of the company’s stock valued at $845,000 after buying an additional 127,286 shares during the last quarter. Finally, Tudor Investment Corp ET AL purchased a new stake in ProFrac in the 3rd quarter valued at $2,377,000. 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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.