ProFrac (NASDAQ:ACDC) Stock Price Down 7.2%

ProFrac Holding Corp. (NASDAQ:ACDC) shares dropped 7.2% during trading on Tuesday . The company traded as low as $7.85 and last traded at $7.88. Approximately 165,617 shares changed hands during trading, a decline of 81% from the average daily volume of 873,977 shares. The stock had previously closed at $8.49.

Wall Street Analyst Weigh In

ACDC has been the subject of a number of recent analyst reports. Bank of America boosted their price target on shares of ProFrac from $8.50 to $9.50 and gave the company a “neutral” rating in a research report on Monday. Stifel Nicolaus reduced their price target on shares of ProFrac from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, March 14th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $12.50.

ProFrac Price Performance

The firm’s 50-day moving average is $7.97 and its 200-day moving average is $8.27. The company has a market capitalization of $1.27 billion, a PE ratio of -14.64 and a beta of 0.71. The company has a quick ratio of 0.62, a current ratio of 0.98 and a debt-to-equity ratio of 0.74.

ProFrac (NASDAQ:ACDC) last announced its earnings results on Friday, March 15th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.23). ProFrac had a positive return on equity of 3.04% and a negative net margin of 3.98%. The company had revenue of $489.10 million during the quarter, compared to analysts’ expectations of $594.17 million. Equities analysts predict that ProFrac Holding Corp. will post 0.81 earnings per share for the current fiscal year.

Institutional Trading of ProFrac

Several hedge funds have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC lifted its stake in ProFrac by 7.9% in the second quarter. Kestra Advisory Services LLC now owns 13,600 shares of the company’s stock worth $152,000 after purchasing an additional 1,000 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of ProFrac by 10.0% during the second quarter. Tower Research Capital LLC TRC now owns 14,381 shares of the company’s stock valued at $160,000 after acquiring an additional 1,307 shares during the last quarter. Rhumbline Advisers raised its stake in shares of ProFrac by 4.7% during the third quarter. Rhumbline Advisers now owns 35,384 shares of the company’s stock valued at $385,000 after acquiring an additional 1,602 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of ProFrac by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 173,568 shares of the company’s stock valued at $1,472,000 after acquiring an additional 1,820 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of ProFrac by 8.6% during the second quarter. California State Teachers Retirement System now owns 24,874 shares of the company’s stock valued at $278,000 after acquiring an additional 1,978 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.