ProFrac Holding Corp. (NASDAQ:ACDC) Receives Average Rating of “Strong Sell” from Analysts

ProFrac Holding Corp. (NASDAQ:ACDC) has received an average recommendation of “Strong Sell” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $5.80.

A number of equities research analysts recently issued reports on ACDC shares. Piper Sandler dropped their price objective on shares of ProFrac from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Thursday, October 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of ProFrac in a research note on Wednesday, October 8th. Zacks Research lowered shares of ProFrac from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. Morgan Stanley set a $4.50 price objective on ProFrac and gave the company an “underweight” rating in a report on Friday, October 17th. Finally, Wall Street Zen cut ProFrac from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th.

Insider Activity

In related news, Chairman Matthew Wilks acquired 43,297 shares of ProFrac stock in a transaction that occurred on Monday, September 8th. The shares were purchased at an average cost of $3.80 per share, for a total transaction of $164,528.60. Following the acquisition, the chairman owned 422,097 shares in the company, valued at approximately $1,603,968.60. This represents a 11.43% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.64% of the company’s stock.

Institutional Investors Weigh In On ProFrac

Institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its holdings in 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. Farther Finance Advisors LLC purchased a new position in shares of ProFrac during the second quarter worth $29,000. Raymond James Financial Inc. acquired a new stake in shares of ProFrac in the second quarter valued at $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of ProFrac in the 3rd quarter valued at $45,000. Finally, AXQ Capital LP acquired a new position in ProFrac during the 3rd quarter worth about $48,000. 12.75% of the stock is owned by hedge funds and other institutional investors.

ProFrac Price Performance

ACDC stock opened at $3.56 on Thursday. ProFrac has a 1 year low of $3.43 and a 1 year high of $10.70. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.91 and a quick ratio of 0.63. The firm has a market capitalization of $643.90 million, a PE ratio of -1.74 and a beta of 1.66. The business has a 50 day simple moving average of $4.10 and a 200-day simple moving average of $5.74.

ProFrac (NASDAQ:ACDC) last announced 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). The company had revenue of $403.10 million for the quarter, compared to analysts’ expectations of $412.00 million. ProFrac had a negative return on equity of 32.01% and a negative net margin of 16.86%. Equities research analysts anticipate that ProFrac will post -0.5 earnings per share for the current fiscal year.

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.