ProFrac (NASDAQ:ACDC) Stock Jumps 12.1% – Time to Buy?

ProFrac Holding Corp. (NASDAQ:ACDC) was up 12.1% on Monday. The stock traded as high as $3.43 and last traded at $3.3750. 578,423 shares changed hands during trading, a decline of 60% from the average session volume of 1,444,803 shares. The stock had previously closed at $3.01.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ACDC. Wall Street Zen cut shares of ProFrac from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of ProFrac in a report on Monday, September 21st. Morgan Stanley lowered their price objective on ProFrac from $4.50 to $4.00 and set an “underweight” rating for the company in a research note on Monday. Finally, Piper Sandler cut their price target on shares of ProFrac from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $4.50.

ProFrac Trading Up 10.5%

The stock has a market capitalization of $605.56 million, a P/E ratio of -1.53 and a beta of 1.48. The company has a 50-day moving average price of $4.58 and a 200 day moving average price of $5.51. 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 (NASDAQ:ACDC) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.19). ProFrac had a negative return on equity of 45.63% and a negative net margin of 20.47%. The firm had revenue of $511.10 million during the quarter, compared to analysts’ expectations of $555.66 million. On average, research analysts forecast that ProFrac Holding Corp. will post -1.34 earnings per share for the current fiscal year.

Insider Transactions at ProFrac

In other ProFrac news, major shareholder Holdings Lp Thrc bought 30,820 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were purchased at an average cost of $4.81 per share, for a total transaction of $148,244.20. Following the purchase, the insider directly owned 83,816,235 shares in the company, valued at $403,156,090.35. This represents a 0.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Dan H. Wilks bought 30,820 shares of ProFrac stock in a transaction that occurred on Tuesday, August 25th. The shares were acquired at an average cost of $4.81 per share, for a total transaction of $148,244.20. Following the completion of the transaction, the insider directly owned 88,107,422 shares in the company, valued at $423,796,699.82. This represents a 0.03% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 1,439,266 shares of company stock valued at $6,954,703 in the last quarter. 2.23% of the stock is currently owned by corporate insiders.

Institutional Trading of ProFrac

Large investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue raised its holdings in shares of ProFrac by 47.6% in the third quarter. State of Alaska Department of Revenue now owns 8,662 shares of the company’s stock worth $37,000 after buying an additional 2,795 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of ProFrac during the second quarter valued at $68,000. Allworth Financial LP increased its position in shares of 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 during the period. Corient Private Wealth LP acquired a new position in shares of ProFrac in the 2nd quarter valued at $368,000. Finally, AXQ Capital LP raised its stake in ProFrac by 11.0% in the 2nd quarter. AXQ Capital LP now owns 45,301 shares of the company’s stock worth $263,000 after acquiring an additional 4,487 shares during the last quarter. Hedge funds and other institutional investors own 12.75% of the company’s stock.

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.