Brokerages Set ProFrac Holding Corp. (NASDAQ:ACDC) PT at $5.50

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have been assigned a consensus rating of “Reduce” from the five research firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $5.50.

A number of research firms have commented on ACDC. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProFrac in a research report on Wednesday, June 24th. Morgan Stanley set a $5.00 price objective on ProFrac in a research note on Wednesday, July 15th. Wall Street Zen cut ProFrac from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Piper Sandler increased their target price on shares of ProFrac from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Monday, May 18th.

ProFrac Price Performance

Shares of NASDAQ:ACDC opened at $4.26 on Tuesday. The firm has a market cap of $770.72 million, a PE ratio of -1.67 and a beta of 1.42. The firm’s fifty day moving average is $6.11 and its 200-day moving average is $5.90. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.82. ProFrac has a 52 week low of $3.08 and a 52 week high of $8.30.

ProFrac (NASDAQ:ACDC) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.10). The company had revenue of $449.60 million during the quarter, compared to analyst estimates of $426.39 million. ProFrac had a negative net margin of 24.25% and a negative return on equity of 44.39%. Sell-side analysts predict that ProFrac will post -1.16 earnings per share for the current year.

Institutional Investors Weigh In On ProFrac

Several large investors have recently modified their holdings of ACDC. EverSource Wealth Advisors LLC lifted its holdings in ProFrac by 7,241.7% in the second quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock valued at $27,000 after buying an additional 3,476 shares during the period. Raymond James Financial Inc. bought a new stake in ProFrac during the second quarter valued at $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in ProFrac during the 3rd quarter worth about $45,000. Price T Rowe Associates Inc. MD acquired a new stake in ProFrac during the 4th quarter worth about $46,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of ProFrac in the 4th quarter worth about $47,000. 12.75% of the stock is currently owned by institutional investors and hedge funds.

ProFrac Company Profile

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.