ProFrac Holding Corp. (NASDAQ:ACDC) Stock Has Consensus Target Price of $5.25

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have earned a consensus rating of “Reduce” from the five ratings firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $5.25.

ACDC has been the topic of several recent analyst reports. Wall Street Zen cut ProFrac from a “hold” rating to a “sell” rating in a research note on Saturday, October 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProFrac in a research note on Monday, September 21st. Finally, Morgan Stanley reduced their target price on shares of ProFrac from $5.00 to $4.50 and set an “underweight” rating for the company in a research note on Thursday, August 20th.

Insider Buying and Selling

In other news, CEO Matthew Wilks acquired 57,519 shares of ProFrac stock in a transaction on Monday, August 10th. The stock was acquired at an average cost of $4.86 per share, with a total value of $279,542.34. Following the transaction, the chief executive officer owned 479,616 shares of the company’s stock, valued at approximately $2,330,933.76. This trade represents a 13.63% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Dan H. Wilks acquired 517,669 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was purchased at an average price of $4.86 per share, with a total value of $2,515,871.34. Following the purchase, the insider owned 87,297,864 shares in the company, valued at approximately $424,267,619.04. The trade was a 0.60% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have bought 2,014,454 shares of company stock worth $9,750,117. 2.23% of the stock is owned by insiders.

Hedge Funds Weigh In On ProFrac

A number of hedge funds and other institutional investors have recently modified their holdings of ACDC. Dimensional Fund Advisors LP lifted its holdings in ProFrac by 156.5% during the first quarter. Dimensional Fund Advisors LP now owns 390,420 shares of the company’s stock worth $2,421,000 after acquiring an additional 238,210 shares during the period. Walleye Capital LLC boosted its position in ProFrac by 328.6% in the first quarter. Walleye Capital LLC now owns 347,911 shares of the company’s stock worth $2,157,000 after purchasing an additional 266,742 shares during the last quarter. Bank of America Corp DE grew its stake in ProFrac by 186.9% in the 1st quarter. Bank of America Corp DE now owns 175,664 shares of the company’s stock valued at $1,089,000 after purchasing an additional 114,429 shares during the period. Renaissance Technologies LLC bought a new position in ProFrac in the 1st quarter valued at $872,000. Finally, Sei Investments Co. grew its stake in ProFrac by 91.6% in the 1st quarter. Sei Investments Co. now owns 99,986 shares of the company’s stock valued at $620,000 after purchasing an additional 47,800 shares during the period. Hedge funds and other institutional investors own 12.75% of the company’s stock.

ProFrac Trading Down 4.8%

Shares of ProFrac stock opened at $3.97 on Thursday. The stock has a fifty day simple moving average of $4.67 and a 200 day simple moving average of $5.53. ProFrac has a 12-month low of $3.08 and a 12-month high of $8.22. The company has a market capitalization of $723.02 million, a P/E ratio of -1.70 and a beta of 1.48. The company has a current ratio of 0.84, a quick ratio of 0.59 and a debt-to-equity ratio of 1.42.

ProFrac Company Profile

ProFrac Holding Corp. is an energy services company that provides hydraulic fracturing and other well-stimulation services to oil and natural gas producers. Through its operations, the company supports the development and completion of unconventional wells, primarily in North American onshore energy markets.

The company’s activities include pressure pumping and hydraulic fracturing services, proppant production and distribution, and the manufacture, sale, and maintenance of equipment used in well-completion operations.