ProFrac (NASDAQ:ACDC) Rating Increased to Hold at Wall Street Zen

ProFrac (NASDAQ:ACDC) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

ACDC has been the subject of several other research reports. Zacks Research upgraded ProFrac from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 21st. Morgan Stanley increased their target price on ProFrac from $4.00 to $5.00 and gave the company an “underweight” rating in a research report on Tuesday, March 24th. UBS Group reissued a “positive” rating on shares of ProFrac in a report on Thursday, March 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ProFrac in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, ProFrac has a consensus rating of “Reduce” and a consensus price target of $5.63.

ProFrac Price Performance

ACDC opened at $6.08 on Friday. The firm has a 50-day simple moving average of $5.68 and a two-hundred day simple moving average of $4.64. ProFrac has a 52 week low of $3.08 and a 52 week high of $10.70. The company has a market capitalization of $1.10 billion, a PE ratio of -2.76 and a beta of 1.44. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.08.

ProFrac (NASDAQ:ACDC) last issued its quarterly earnings data on Friday, March 13th. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.07). The firm had revenue of $436.50 million for the quarter, compared to analysts’ expectations of $402.95 million. ProFrac had a negative net margin of 18.97% and a negative return on equity of 33.18%. Analysts forecast that ProFrac will post -0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ProFrac

Several large investors have recently added to or reduced their stakes in ACDC. EverSource Wealth Advisors LLC lifted its stake in shares of ProFrac by 7,241.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock valued at $27,000 after purchasing an additional 3,476 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of ProFrac during the 2nd quarter valued at approximately $29,000. BNP Paribas Financial Markets raised its holdings in ProFrac by 389.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,122 shares of the company’s stock valued at $48,000 after buying an additional 4,871 shares during the period. Tower Research Capital LLC TRC raised its holdings in ProFrac by 822.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,234 shares of the company’s stock valued at $87,000 after buying an additional 10,016 shares during the period. Finally, Price T Rowe Associates Inc. MD bought a new stake in ProFrac in the fourth quarter worth $46,000. 12.75% of the stock is owned by institutional investors.

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.