ProFrac (NASDAQ:ACDC) Shares Gap Down – What’s Next?

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) gapped down prior to trading on Monday . The stock had previously closed at $4.26, but opened at $4.09. ProFrac shares last traded at $4.22, with a volume of 89,605 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ACDC shares. Piper Sandler upped their target price 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. Wall Street Zen cut shares of ProFrac from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of ProFrac in a research note on Wednesday, June 24th. Finally, Morgan Stanley set a $5.00 price objective on shares of ProFrac in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, ProFrac presently has an average rating of “Reduce” and a consensus target price of $5.50.

ProFrac Trading Down 3.2%

The company has a market capitalization of $746.29 million, a P/E ratio of -1.62 and a beta of 1.42. 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 business’s 50-day moving average price is $6.11 and its two-hundred day moving average price is $5.91.

ProFrac (NASDAQ:ACDC) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.10). The firm had revenue of $449.60 million during the quarter, compared to the consensus estimate of $426.39 million. ProFrac had a negative net margin of 24.25% and a negative return on equity of 44.39%. As a group, analysts forecast that ProFrac Holding Corp. will post -1.16 EPS for the current fiscal year.

Institutional Investors Weigh In On ProFrac

Large investors have recently modified their holdings of the business. Tudor Investment Corp ET AL bought a new position in shares of ProFrac during the 3rd quarter valued at about $2,377,000. Walleye Capital LLC grew its position 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 purchasing an additional 266,742 shares during the period. JPMorgan Chase & Co. increased its stake in ProFrac by 125.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 228,477 shares of the company’s stock worth $845,000 after purchasing an additional 127,286 shares in the last quarter. Sei Investments Co. increased its stake in ProFrac by 91.6% during the 1st quarter. Sei Investments Co. now owns 99,986 shares of the company’s stock worth $620,000 after purchasing an additional 47,800 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in ProFrac by 156.5% during the 1st 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. 12.75% of the stock is currently 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.