ProFrac Holding Corp. (NASDAQ:ACDC) Receives $13.25 Average PT from Analysts

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have been given an average recommendation of “Hold” by the five brokerages that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $12.50.

A number of analysts recently weighed in on ACDC shares. Bank of America raised their price target on shares of ProFrac from $8.50 to $9.50 and gave the company a “neutral” rating in a report on Monday. Stifel Nicolaus lowered their price target on shares of ProFrac from $12.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, March 14th.

ProFrac Stock Performance

NASDAQ ACDC opened at $7.49 on Thursday. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -14.13 and a beta of 0.71. The company has a 50 day moving average of $7.99 and a 200-day moving average of $8.25. The company has a current ratio of 0.98, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. ProFrac has a 1-year low of $6.46 and a 1-year high of $14.32.

ProFrac (NASDAQ:ACDC) last issued its quarterly earnings results on Friday, March 15th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.23). The company had revenue of $489.10 million during the quarter, compared to analyst estimates of $594.17 million. ProFrac had a negative net margin of 3.98% and a positive return on equity of 3.04%. On average, equities analysts forecast that ProFrac will post 0.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ProFrac

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sandia Investment Management LP bought a new position in ProFrac in the first quarter valued at approximately $32,000. Peoples Bank KS bought a new position in ProFrac in the third quarter valued at approximately $33,000. Tower Research Capital LLC TRC boosted its stake in ProFrac by 42.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,827 shares of the company’s stock valued at $58,000 after acquiring an additional 2,034 shares during the last quarter. Quarry LP bought a new position in ProFrac in the first quarter valued at approximately $68,000. Finally, Citigroup Inc. boosted its position in shares of ProFrac by 1,789.0% during the second quarter. Citigroup Inc. now owns 7,707 shares of the company’s stock worth $86,000 after purchasing an additional 7,299 shares in the last quarter. 12.75% of the stock is owned by institutional investors.

About ProFrac

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.