ProFrac (NASDAQ:ACDC) Trading 3.6% Higher – What’s Next?

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) shot up 3.6% on Monday . The stock traded as high as $3.87 and last traded at $3.8850. 144,153 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,074,909 shares. The stock had previously closed at $3.75.

Analyst Ratings Changes

Several research firms recently weighed in on ACDC. Morgan Stanley set a $3.50 price objective on ProFrac in a report on Monday, December 15th. Zacks Research lowered shares of ProFrac from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProFrac in a research report on Monday, December 22nd. Finally, Piper Sandler cut their price objective on shares of ProFrac from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Thursday, October 16th. Two investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Strong Sell” and an average target price of $5.25.

ProFrac Price Performance

The company has a market cap of $691.47 million, a PE ratio of -1.86 and a beta of 1.72. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.91 and a quick ratio of 0.63. The stock’s 50-day moving average is $4.12 and its 200 day moving average is $5.18.

ProFrac (NASDAQ:ACDC) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $403.10 million for the quarter, compared to analyst estimates of $412.00 million. On average, equities analysts anticipate that ProFrac Holding Corp. will post -0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ProFrac

Institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its stake in ProFrac by 7,241.7% in the 2nd 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 in the last quarter. Farther Finance Advisors LLC purchased a new position in shares of ProFrac in the second quarter worth $29,000. Raymond James Financial Inc. acquired a new stake in shares of ProFrac during the second quarter worth $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of ProFrac during the third quarter valued at $45,000. Finally, AXQ Capital LP acquired a new position in shares of ProFrac in the 3rd quarter valued at $48,000. Institutional investors and hedge funds 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.