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

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have received an average rating of “Reduce” from the six brokerages that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $5.3750.

Several equities research analysts have commented on ACDC shares. Zacks Research raised shares of ProFrac from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 21st. Morgan Stanley reaffirmed an “underweight” rating and issued a $4.00 target price on shares of ProFrac in a research report on Wednesday, January 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ProFrac in a research report on Monday, December 29th.

ProFrac Price Performance

NASDAQ ACDC opened at $5.31 on Friday. The firm’s 50 day moving average is $4.63 and its 200-day moving average is $4.31. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $960.42 million, a PE ratio of -2.59 and a beta of 1.69. ProFrac has a 12-month low of $3.08 and a 12-month high of $10.70.

Hedge Funds Weigh In On ProFrac

Several hedge funds and other institutional investors have recently made changes to their positions in the company. First Financial Bankshares Inc raised its position in ProFrac by 30.1% during the third quarter. First Financial Bankshares Inc now owns 4,204,795 shares of the company’s stock worth $15,558,000 after acquiring an additional 973,062 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of ProFrac by 61.7% during the 4th quarter. AQR Capital Management LLC now owns 1,638,822 shares of the company’s stock worth $6,375,000 after purchasing an additional 625,596 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of ProFrac by 27.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,484,760 shares of the company’s stock valued at $5,494,000 after purchasing an additional 322,860 shares during the period. Bridgeway Capital Management LLC lifted its stake in ProFrac by 2.8% in the 2nd quarter. Bridgeway Capital Management LLC now owns 1,199,562 shares of the company’s stock valued at $9,309,000 after purchasing an additional 32,382 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in ProFrac by 12.1% in the 4th quarter. Wells Fargo & Company MN now owns 1,088,687 shares of the company’s stock valued at $4,235,000 after purchasing an additional 117,608 shares during the last quarter. 12.75% of the stock is owned by institutional investors.

ProFrac Company Profile

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.