ProFrac Holding Corp. (NASDAQ:ACDC) Stock Has Average Price Target of $5.25 According to Analysts

ProFrac Holding Corp. (NASDAQ:ACDC) has earned an average recommendation of “Reduce” from the five brokerages that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $5.25.

ACDC has been the topic of a number of recent research reports. Morgan Stanley cut their target price on ProFrac from $5.00 to $4.50 and set an “underweight” rating on the stock in a research note on Thursday, August 20th. Wall Street Zen raised ProFrac from a “sell” rating to a “hold” rating in a research report on Saturday, October 3rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProFrac in a research report on Monday, September 21st.

Insider Buying and Selling at ProFrac

In other news, major shareholder Dan H. Wilks bought 30,820 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were purchased at an average price of $4.81 per share, for a total transaction of $148,244.20. Following the completion of the purchase, the insider owned 88,107,422 shares in the company, valued at approximately $423,796,699.82. This represents a 0.03% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Holdings Lp Thrc bought 30,820 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was purchased at an average price of $4.81 per share, for a total transaction of $148,244.20. Following the purchase, the insider owned 83,816,235 shares of the company’s stock, valued at approximately $403,156,090.35. This represents a 0.04% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders bought 2,014,454 shares of company stock worth $9,750,117. 2.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ProFrac

Several institutional investors and hedge funds have recently made changes to their positions in ACDC. Allworth Financial LP lifted its position in ProFrac by 88.8% in the 2nd quarter. Allworth Financial LP now owns 6,658 shares of the company’s stock valued at $39,000 after acquiring an additional 3,131 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of ProFrac in the second quarter worth $68,000. SG Americas Securities LLC purchased a new position in shares of ProFrac in the first quarter worth $86,000. Alpine Global Management LLC bought a new position in shares of ProFrac during the fourth quarter valued at $88,000. Finally, AXQ Capital LP lifted its holdings in shares of ProFrac by 11.0% during the second quarter. AXQ Capital LP now owns 45,301 shares of the company’s stock valued at $263,000 after purchasing an additional 4,487 shares in the last quarter. Institutional investors own 12.75% of the company’s stock.

ProFrac Stock Down 1.5%

ACDC stock opened at $4.70 on Friday. ProFrac has a twelve month low of $3.08 and a twelve month high of $8.22. The company has a quick ratio of 0.59, a current ratio of 0.84 and a debt-to-equity ratio of 1.42. The firm has a market cap of $855.96 million, a PE ratio of -2.02 and a beta of 1.52. The business has a 50 day moving average of $4.84 and a 200 day moving average of $5.72.

ProFrac Company Profile

ProFrac Holding Corp. is an energy services company that provides hydraulic fracturing and other completion services to oil and natural gas producers. Its operations support the development of unconventional wells, where specialized equipment and high-pressure pumping are used to stimulate underground formations and improve hydrocarbon recovery.

The company operates an integrated business model spanning stimulation services, proppant production and manufacturing. Its offerings include hydraulic fracturing, well stimulation, frac sand and other proppants, logistics and related equipment manufacturing, maintenance and repair services.