ProFrac (NASDAQ:ACDC) Trading Down 11.5% – Should You Sell?

ProFrac Holding Corp. (NASDAQ:ACDC) fell 11.5% on Wednesday . The stock traded as low as $5.46 and last traded at $5.33. 127,988 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 1,353,525 shares. The stock had previously closed at $6.02.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProFrac in a research note on Friday, March 27th. Piper Sandler raised their price target 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. Morgan Stanley boosted their price target on shares of ProFrac from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 15th. UBS Group reaffirmed a “positive” rating on shares of ProFrac in a research report on Thursday, March 12th. Finally, Wall Street Zen cut ProFrac from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $6.17.

ProFrac Price Performance

The company has a market capitalization of $972.63 million, a PE ratio of -2.12 and a beta of 1.41. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.82 and a quick ratio of 0.58. The company’s 50 day simple moving average is $6.91 and its 200 day simple moving average is $5.74.

ProFrac (NASDAQ:ACDC) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.10). ProFrac had a negative return on equity of 44.39% and a negative net margin of 24.25%.The company had revenue of $449.60 million for the quarter, compared to analysts’ expectations of $426.39 million. As a group, sell-side analysts predict that ProFrac Holding Corp. will post -1.15 earnings per share for the current year.

Institutional Investors Weigh In On ProFrac

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Walleye Capital LLC boosted its stake in ProFrac by 3.6% in the fourth quarter. Walleye Capital LLC now owns 81,169 shares of the company’s stock valued at $316,000 after acquiring an additional 2,785 shares in the last quarter. Vanguard Group Inc. increased its position in shares of ProFrac by 0.7% during the third quarter. Vanguard Group Inc. now owns 427,063 shares of the company’s stock worth $1,580,000 after purchasing an additional 3,003 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of ProFrac by 3.5% during the third quarter. Dimensional Fund Advisors LP now owns 96,957 shares of the company’s stock worth $359,000 after purchasing an additional 3,318 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of ProFrac by 7,241.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock valued at $27,000 after purchasing an additional 3,476 shares during the last quarter. Finally, Intech Investment Management LLC lifted its holdings in shares of ProFrac by 27.2% in the 3rd quarter. Intech Investment Management LLC now owns 16,434 shares of the company’s stock valued at $61,000 after purchasing an additional 3,514 shares during the last quarter. 12.75% of the stock is owned by hedge funds and other institutional investors.

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.