ProFrac (NASDAQ:ACDC) Stock Price Down 4.1% – Time to Sell?

ProFrac Holding Corp. (NASDAQ:ACDC) shares traded down 4.1% on Wednesday . The company traded as low as $3.86 and last traded at $3.8550. 288,257 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 1,074,231 shares. The stock had previously closed at $4.02.

Wall Street Analysts Forecast Growth

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

ProFrac Stock Down 4.1%

The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $697.25 million, a P/E ratio of -1.89 and a beta of 1.71. The company has a fifty day moving average price of $4.12 and a 200-day moving average price of $5.11.

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

Institutional Investors Weigh In On ProFrac

Hedge funds have recently bought and sold shares of the business. Tudor Investment Corp ET AL bought a new position in ProFrac during the third quarter valued at $2,377,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of ProFrac during the 3rd quarter valued at about $45,000. Dark Forest Capital Management LP lifted its holdings in shares of ProFrac by 131.7% in the 3rd quarter. Dark Forest Capital Management LP now owns 282,844 shares of the company’s stock valued at $1,047,000 after acquiring an additional 160,752 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in ProFrac in the third quarter worth about $54,000. Finally, Millennium Management LLC grew its position in ProFrac by 293.4% in the third quarter. Millennium Management LLC now owns 317,446 shares of the company’s stock worth $1,175,000 after acquiring an additional 236,756 shares in the last quarter. Hedge funds and other 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.