ProFrac (NASDAQ:ACDC) Trading 8.1% Higher – Should You Buy?

ProFrac Holding Corp. (NASDAQ:ACDC) rose 8.1% during trading on Tuesday . The company traded as high as $4.52 and last traded at $4.4750. Approximately 143,817 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 905,162 shares. The stock had previously closed at $4.14.

Analysts Set New Price Targets

ACDC has been the subject of a number of research reports. Morgan Stanley set a $3.50 price target on shares of ProFrac in a research report on Monday, December 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of ProFrac in a report on Monday, December 29th. Piper Sandler decreased their target price on ProFrac from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Thursday, October 16th. Finally, Zacks Research lowered ProFrac from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. Two investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Strong Sell” and an average price target of $5.25.

ProFrac Stock Up 9.8%

The company has a market capitalization of $822.05 million, a price-to-earnings ratio of -2.22 and a beta of 1.69. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.63 and a current ratio of 0.91. The business has a 50-day simple moving average of $4.00 and a two-hundred day simple moving average of $4.79.

ProFrac (NASDAQ:ACDC) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.17). ProFrac had a negative return on equity of 32.01% and a negative net margin of 16.86%.The company had revenue of $403.10 million for the quarter, compared to analysts’ expectations of $412.00 million. As a group, equities analysts predict that ProFrac Holding Corp. will post -0.5 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC purchased a new position in ProFrac during the second quarter worth about $29,000. Tweedy Browne Co LLC increased its position in ProFrac by 120.7% during the 2nd quarter. Tweedy Browne Co LLC now owns 27,632 shares of the company’s stock worth $214,000 after purchasing an additional 15,113 shares during the period. Cannon Global Investment Management LLC purchased a new position in shares of ProFrac during the 2nd quarter worth approximately $132,000. Drive Wealth Management LLC acquired a new stake in shares of ProFrac in the 2nd quarter valued at approximately $111,000. Finally, Bleakley Financial Group LLC purchased a new stake in shares of ProFrac in the second quarter valued at approximately $379,000. 12.75% of the stock is currently 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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.