ProFrac (NASDAQ:ACDC) Shares Up 5.1% – What’s Next?

ProFrac Holding Corp. (NASDAQ:ACDC)’s stock price was up 5.1% during trading on Monday . The company traded as high as $5.12 and last traded at $5.17. Approximately 309,030 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 1,361,687 shares. The stock had previously closed at $4.92.

Wall Street Analysts Forecast Growth

ACDC has been the subject of a number of recent analyst reports. Piper Sandler raised their price objective on ProFrac from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Monday, May 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProFrac in a research note on Wednesday, June 24th. Morgan Stanley lifted their price target on shares of ProFrac from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Wednesday, April 15th. Finally, Wall Street Zen downgraded shares of ProFrac from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $6.00.

ProFrac Trading Up 2.7%

The company has a debt-to-equity ratio of 1.27, a current ratio of 0.82 and a quick ratio of 0.58. The firm has a market cap of $966.11 million, a PE ratio of -2.09 and a beta of 1.42. The company’s 50 day moving average price is $6.46 and its 200 day moving average price is $5.86.

ProFrac (NASDAQ:ACDC) last announced its earnings results on Thursday, May 7th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.10). The business had revenue of $449.60 million for the quarter, compared to analysts’ expectations of $426.39 million. ProFrac had a negative return on equity of 44.39% and a negative net margin of 24.25%. As a group, analysts forecast that ProFrac Holding Corp. will post -1.15 EPS for the current fiscal year.

Institutional Trading of ProFrac

Several hedge funds have recently modified their holdings of ACDC. UBS Group AG raised its position in ProFrac by 1,862.8% in the 3rd quarter. UBS Group AG now owns 705,568 shares of the company’s stock valued at $2,611,000 after purchasing an additional 669,621 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in shares of ProFrac during the third quarter worth about $2,377,000. AQR Capital Management LLC grew its position in shares of ProFrac by 61.7% during the fourth quarter. AQR Capital Management LLC now owns 1,638,822 shares of the company’s stock worth $6,375,000 after buying an additional 625,596 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in shares of ProFrac by 27.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,484,760 shares of the company’s stock worth $5,494,000 after buying an additional 322,860 shares during the period. Finally, HRT Financial LP increased its stake in shares of ProFrac by 409.5% during the fourth quarter. HRT Financial LP now owns 382,837 shares of the company’s stock worth $1,489,000 after buying an additional 307,696 shares during the period. 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.