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

ProFrac Holding Corp. (NASDAQ:ACDC) has earned an average recommendation of “Reduce” from the seven research firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $5.3750.

ACDC has been the subject of a number of recent research reports. Zacks Research upgraded shares of ProFrac from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 21st. Morgan Stanley reissued an “underweight” rating and set a $4.00 price objective on shares of ProFrac in a research note on Wednesday, January 21st. Weiss Ratings restated a “sell (d-)” rating on shares of ProFrac in a research report on Monday, December 29th. Finally, UBS Group reaffirmed a “positive” rating on shares of ProFrac in a research note on Thursday, March 12th.

Institutional Investors Weigh In On ProFrac

Hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning acquired a new position in ProFrac in the second quarter valued at $102,000. Empowered Funds LLC grew its holdings in ProFrac by 5.4% in the 2nd quarter. Empowered Funds LLC now owns 627,062 shares of the company’s stock valued at $4,866,000 after buying an additional 32,382 shares during the period. JPMorgan Chase & Co. grew its holdings in ProFrac by 818.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 101,191 shares of the company’s stock valued at $785,000 after buying an additional 90,176 shares during the period. American Century Companies Inc. increased its stake in shares of ProFrac by 5.9% during the 2nd quarter. American Century Companies Inc. now owns 618,194 shares of the company’s stock valued at $4,797,000 after acquiring an additional 34,374 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased 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 valued at $27,000 after acquiring an additional 3,476 shares during the last quarter. Hedge funds and other institutional investors own 12.75% of the company’s stock.

ProFrac Stock Up 3.7%

ACDC opened at $6.77 on Wednesday. The firm has a market cap of $1.22 billion, a P/E ratio of -3.08 and a beta of 1.70. The business’s fifty day simple moving average is $5.19 and its 200 day simple moving average is $4.42. ProFrac has a 52 week low of $3.08 and a 52 week high of $10.70. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 1.08.

ProFrac (NASDAQ:ACDC) last announced its earnings results on Friday, March 13th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.07). The firm had revenue of $436.50 million during the quarter, compared to analyst estimates of $402.95 million. ProFrac had a negative net margin of 18.97% and a negative return on equity of 33.18%. As a group, equities research analysts anticipate that ProFrac will post -0.5 EPS for the current fiscal 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.