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

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have received a consensus rating of “Reduce” from the six brokerages that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $5.50.

Several equities analysts have recently commented on the stock. Wall Street Zen raised shares of ProFrac from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Zacks Research raised shares of ProFrac from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProFrac in a research report on Friday, March 27th. UBS Group reaffirmed a “positive” rating on shares of ProFrac in a research report on Thursday, March 12th. Finally, Morgan Stanley increased their price target on shares of ProFrac from $4.00 to $5.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 24th.

ProFrac Stock Performance

NASDAQ:ACDC opened at $5.85 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.81 and a quick ratio of 0.56. The firm has a 50-day moving average of $5.79 and a two-hundred day moving average of $4.76. The stock has a market cap of $1.06 billion, a P/E ratio of -2.66 and a beta of 1.44. ProFrac has a 1-year low of $3.08 and a 1-year high of $10.70.

ProFrac (NASDAQ:ACDC) last posted its quarterly earnings data on Thursday, March 12th. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.07). ProFrac had a negative net margin of 18.97% and a negative return on equity of 33.18%. The firm had revenue of $436.50 million during the quarter, compared to analysts’ expectations of $402.95 million. On average, research analysts expect that ProFrac will post -0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ProFrac

Several large investors have recently modified their holdings of ACDC. EverSource Wealth Advisors LLC lifted its position in shares of ProFrac by 7,241.7% during the second quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock worth $27,000 after purchasing an additional 3,476 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of ProFrac during the second quarter worth about $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in ProFrac during the third quarter worth about $45,000. Price T Rowe Associates Inc. MD acquired a new stake in ProFrac during the fourth quarter worth about $46,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in ProFrac during the fourth quarter worth about $47,000. Institutional investors own 12.75% of the company’s stock.

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.