ProFrac (NASDAQ:ACDC) Trading Down 6.5% – What’s Next?

ProFrac Holding Corp. (NASDAQ:ACDC)’s share price was down 6.5% on Wednesday . The stock traded as low as $6.26 and last traded at $6.2750. Approximately 491,008 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 1,331,449 shares. The stock had previously closed at $6.71.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ACDC. Morgan Stanley lifted their price objective on ProFrac from $4.00 to $5.00 and gave the company an “underweight” rating in a research note on Tuesday. Zacks Research upgraded ProFrac from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProFrac in a research note on Monday, December 29th. Finally, UBS Group reissued a “positive” rating on shares of ProFrac in a research report on Thursday, March 12th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $5.63.

ProFrac Stock Performance

The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $1.13 billion, a P/E ratio of -2.85 and a beta of 1.70. The business has a fifty day moving average price of $5.42 and a 200-day moving average price of $4.51.

ProFrac (NASDAQ:ACDC) last released its quarterly earnings data on Friday, March 13th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.07). The business had revenue of $436.50 million during the quarter, compared to the consensus estimate of $402.95 million. ProFrac had a negative return on equity of 33.18% and a negative net margin of 18.97%. On average, sell-side analysts expect that ProFrac Holding Corp. will post -0.5 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACDC. Walleye Capital LLC grew its position in ProFrac by 3.6% in the 4th quarter. Walleye Capital LLC now owns 81,169 shares of the company’s stock worth $316,000 after purchasing an additional 2,785 shares during the period. Vanguard Group Inc. lifted its holdings in shares of ProFrac by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 427,063 shares of the company’s stock valued at $1,580,000 after buying an additional 3,003 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of ProFrac by 3.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 96,957 shares of the company’s stock worth $359,000 after buying an additional 3,318 shares during the last quarter. EverSource Wealth Advisors LLC boosted 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 worth $27,000 after buying an additional 3,476 shares during the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of ProFrac by 27.2% in the third quarter. Intech Investment Management LLC now owns 16,434 shares of the company’s stock worth $61,000 after acquiring an additional 3,514 shares during the period. 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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.