ProFrac Holding Corp. (NASDAQ:ACDC) Given Consensus Recommendation of “Reduce” by Brokerages

ProFrac Holding Corp. (NASDAQ:ACDC) has received an average recommendation of “Reduce” from the five analysts that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $6.90.

ACDC has been the subject of a number of recent research reports. Wall Street Zen upgraded ProFrac from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Morgan Stanley cut their price objective on ProFrac from $7.00 to $5.00 and set an “underweight” rating for the company in a research report on Friday, May 16th. Finally, Stifel Nicolaus cut their price objective on ProFrac from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Tuesday, April 15th.

ProFrac Stock Performance

ACDC opened at $9.37 on Monday. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -6.29 and a beta of 1.75. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.98 and a quick ratio of 0.69. ProFrac has a 1-year low of $3.83 and a 1-year high of $10.70. The business has a 50 day moving average price of $6.53 and a two-hundred day moving average price of $7.12.

ProFrac (NASDAQ:ACDC) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.20. ProFrac had a negative return on equity of 11.85% and a negative net margin of 10.72%. Research analysts predict that ProFrac will post -0.5 EPS for the current fiscal year.

Insider Buying and Selling at ProFrac

In related news, Chairman Matthew Wilks purchased 20,221 shares of the company’s stock in a transaction dated Friday, May 9th. The shares were acquired at an average cost of $4.32 per share, with a total value of $87,354.72. Following the completion of the purchase, the chairman now owns 308,977 shares of the company’s stock, valued at $1,334,780.64. The trade was a 7.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Holdings Lp Thrc purchased 23,599 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was bought at an average cost of $4.85 per share, for a total transaction of $114,455.15. Following the completion of the purchase, the insider now directly owns 79,234,130 shares of the company’s stock, valued at $384,285,530.50. The trade was a 0.03% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 733,996 shares of company stock valued at $4,356,960 in the last three months. 2.84% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ProFrac

A number of hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its stake in shares of ProFrac by 1,822.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,785,781 shares of the company’s stock worth $13,858,000 after acquiring an additional 1,692,908 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in shares of ProFrac by 10.6% in the first quarter. Bridgeway Capital Management LLC now owns 1,167,180 shares of the company’s stock worth $8,859,000 after acquiring an additional 111,913 shares during the last quarter. Empowered Funds LLC increased its position in ProFrac by 2.0% during the first quarter. Empowered Funds LLC now owns 594,680 shares of the company’s stock worth $4,514,000 after buying an additional 11,913 shares during the last quarter. Geode Capital Management LLC increased its position in ProFrac by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 591,501 shares of the company’s stock worth $4,591,000 after buying an additional 2,893 shares during the last quarter. Finally, American Century Companies Inc. increased its position in ProFrac by 10.4% during the first quarter. American Century Companies Inc. now owns 583,820 shares of the company’s stock worth $4,431,000 after buying an additional 54,908 shares during the last quarter. 12.75% of the stock is owned by institutional investors and hedge funds.

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.