ProFrac (ACDC) Expected to Announce Earnings on Thursday

ProFrac (NASDAQ:ACDC) is expected to be announcing its earnings results before the market opens on Thursday, March 6th. Analysts expect the company to announce earnings of ($0.32) per share and revenue of $479.26 million for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

ProFrac Trading Down 10.3 %

NASDAQ:ACDC opened at $6.45 on Tuesday. The company has a market cap of $1.03 billion, a P/E ratio of -4.57 and a beta of 1.19. The stock’s fifty day moving average price is $7.80 and its two-hundred day moving average price is $7.25. ProFrac has a 1 year low of $5.16 and a 1 year high of $9.75. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.95 and a quick ratio of 0.62.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ACDC shares. JPMorgan Chase & Co. downgraded ProFrac from a “neutral” rating to an “underweight” rating and set a $7.00 target price on the stock. in a research report on Friday, December 6th. Stifel Nicolaus decreased their price target on shares of ProFrac from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, ProFrac has an average rating of “Hold” and an average price target of $7.20.

Insider Transactions at ProFrac

In other news, major shareholder Farris Wilks bought 338,756 shares of ProFrac stock in a transaction that occurred on Wednesday, February 26th. The shares were acquired at an average price of $6.93 per share, with a total value of $2,347,579.08. Following the completion of the purchase, the insider now directly owns 1,316,534 shares in the company, valued at $9,123,580.62. The trade was a 34.65 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 2.93% of the company’s stock.

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.