ProFrac (NASDAQ:ACDC) Trading Down 4% – What’s Next?

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) were down 4% during trading on Wednesday . The company traded as low as $5.21 and last traded at $5.1250. Approximately 98,642 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 1,367,426 shares. The stock had previously closed at $5.34.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ACDC. Piper Sandler increased their price target on shares of ProFrac from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Monday, May 18th. Morgan Stanley set a $5.00 target price on shares of ProFrac in a research report on Wednesday. Wall Street Zen cut ProFrac from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ProFrac in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, ProFrac currently has an average rating of “Reduce” and a consensus target price of $5.50.

ProFrac Stock Performance

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 has a 50 day simple moving average of $6.38 and a 200-day simple moving average of $5.88. The firm has a market cap of $868.42 million, a PE ratio of -1.88 and a beta of 1.42.

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

Institutional Trading of ProFrac

Several hedge funds have recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL purchased a new stake in ProFrac during the third quarter valued at about $2,377,000. JPMorgan Chase & Co. increased its holdings in shares of ProFrac by 125.8% in the third quarter. JPMorgan Chase & Co. now owns 228,477 shares of the company’s stock worth $845,000 after buying an additional 127,286 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of ProFrac by 156.5% in the first quarter. Dimensional Fund Advisors LP now owns 390,420 shares of the company’s stock worth $2,421,000 after buying an additional 238,210 shares during the period. Walleye Capital LLC lifted its stake in shares of ProFrac by 328.6% in the 1st quarter. Walleye Capital LLC now owns 347,911 shares of the company’s stock valued at $2,157,000 after acquiring an additional 266,742 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of ProFrac in the 1st quarter valued at about $86,000. 12.75% of the stock is owned by 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.