ProFrac’s (ACDC) Sell (D-) Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their sell (d-) rating on shares of ProFrac (NASDAQ:ACDC) in a research report released on Wednesday,Weiss Ratings reports.

A number of other brokerages have also recently weighed in on ACDC. Bank of America cut shares of ProFrac from a “neutral” rating to an “underperform” rating and set a $6.50 target price on the stock. in a report on Wednesday, June 25th. Wall Street Zen cut shares of ProFrac from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Piper Sandler dropped their target price on shares of ProFrac from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, August 20th. Finally, Zacks Research raised shares of ProFrac from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Three investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, ProFrac has an average rating of “Strong Sell” and a consensus target price of $6.10.

ProFrac Trading Down 8.7%

NASDAQ ACDC opened at $3.66 on Wednesday. ProFrac has a 12 month low of $3.43 and a 12 month high of $10.70. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.91 and a quick ratio of 0.62. The company has a market capitalization of $661.98 million, a price-to-earnings ratio of -2.10 and a beta of 1.61. The company’s fifty day moving average price is $4.21 and its two-hundred day moving average price is $5.95.

ProFrac (NASDAQ:ACDC) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.38). ProFrac had a negative net margin of 12.89% and a negative return on equity of 22.78%. The company had revenue of $501.90 million for the quarter, compared to the consensus estimate of $532.93 million. As a group, research analysts predict that ProFrac will post -0.5 earnings per share for the current fiscal year.

Insider Transactions at ProFrac

In other news, Chairman Matthew Wilks acquired 43,297 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The shares were acquired at an average price of $3.80 per share, with a total value of $164,528.60. Following the acquisition, the chairman directly owned 422,097 shares in the company, valued at approximately $1,603,968.60. The trade was a 11.43% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Holdings Lp Thrc acquired 2,500,000 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The stock was purchased at an average cost of $4.00 per share, for a total transaction of $10,000,000.00. Following the acquisition, the insider owned 82,389,657 shares in the company, valued at approximately $329,558,628. This trade represents a 3.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On ProFrac

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. grew its position in ProFrac by 26.3% in the 2nd quarter. Osaic Holdings Inc. now owns 93,652 shares of the company’s stock valued at $727,000 after buying an additional 19,522 shares in the last quarter. Orion Porfolio Solutions LLC grew its position in ProFrac by 102.4% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 23,466 shares of the company’s stock valued at $182,000 after buying an additional 11,870 shares in the last quarter. Tower Research Capital LLC TRC grew its position in ProFrac by 822.3% in 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 in the last quarter. BNP Paribas Financial Markets grew its position in ProFrac by 389.4% in 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 in the last quarter. Finally, Bridgeway Capital Management LLC grew its position 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 buying an additional 32,382 shares in the last quarter. Institutional investors own 12.75% of the company’s stock.

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.