Brokerages Set ProFrac Holding Corp. (NASDAQ:ACDC) Price Target at $5.63

ProFrac Holding Corp. (NASDAQ:ACDC) has earned a consensus recommendation of “Reduce” from the six research firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $5.8333.

Several research firms have issued reports on ACDC. Morgan Stanley increased their price objective on ProFrac from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Wednesday. Wall Street Zen upgraded ProFrac from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProFrac in a research report on Friday, March 27th. Zacks Research upgraded ProFrac from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 21st. Finally, UBS Group reiterated a “positive” rating on shares of ProFrac in a research report on Thursday, March 12th.

Institutional Trading of ProFrac

Large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in ProFrac by 7,241.7% in the second 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. acquired a new stake in ProFrac in the second quarter valued at $29,000. BNP Paribas Financial Markets grew its holdings in ProFrac by 389.4% in the second quarter. BNP Paribas Financial Markets now owns 6,122 shares of the company’s stock valued at $48,000 after purchasing an additional 4,871 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in ProFrac by 822.3% in the second quarter. Tower Research Capital LLC TRC now owns 11,234 shares of the company’s stock valued at $87,000 after purchasing an additional 10,016 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD purchased a new position in shares of ProFrac during the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 12.75% of the company’s stock.

ProFrac Stock Performance

NASDAQ:ACDC opened at $6.21 on Friday. The stock has a fifty day moving average price of $5.84 and a two-hundred day moving average price of $4.78. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -2.82 and a beta of 1.44. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.56 and a current ratio of 0.81. ProFrac has a 1 year low of $3.08 and a 1 year high of $10.70.

ProFrac (NASDAQ:ACDC) last released its quarterly earnings data on Thursday, March 12th. The company reported ($0.51) earnings per share (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 analysts’ expectations of $402.95 million. ProFrac had a negative return on equity of 33.18% and a negative net margin of 18.97%. As a group, sell-side 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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.