ProFrac (NASDAQ:ACDC) Trading Up 10.7% – What’s Next?

ProFrac Holding Corp. (NASDAQ:ACDC) traded up 10.7% on Monday . The stock traded as high as $4.70 and last traded at $4.7840. Approximately 111,955 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 1,415,798 shares. The stock had previously closed at $4.32.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Piper Sandler increased their price objective on ProFrac from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Monday, May 18th. Wall Street Zen cut shares of ProFrac from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Morgan Stanley set a $5.00 target price on shares of ProFrac in a research report on Wednesday, July 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ProFrac in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $5.50.

ProFrac Stock Up 16.1%

The firm has a 50-day moving average of $5.49 and a two-hundred day moving average of $5.90. The company has a quick ratio of 0.59, a current ratio of 0.84 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $907.31 million, a PE ratio of -2.15 and a beta of 1.46.

ProFrac (NASDAQ:ACDC) last posted its earnings results on Thursday, May 7th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.10). The business had revenue of $449.60 million during the quarter, compared to analysts’ expectations of $426.39 million. ProFrac had a negative net margin of 22.83% and a negative return on equity of 45.18%. Equities research analysts predict that ProFrac Holding Corp. will post -1.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ProFrac

Hedge funds and other institutional investors have recently bought and sold shares of the company. Walleye Capital LLC grew its holdings in ProFrac by 3.6% during the 4th quarter. Walleye Capital LLC now owns 81,169 shares of the company’s stock worth $316,000 after acquiring an additional 2,785 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of ProFrac by 0.7% during the 3rd 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 during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of ProFrac by 3.5% during the 3rd 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 during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of ProFrac by 7,241.7% during the second quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock worth $27,000 after purchasing an additional 3,476 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in ProFrac by 27.2% in the third quarter. Intech Investment Management LLC now owns 16,434 shares of the company’s stock valued at $61,000 after buying an additional 3,514 shares during the last quarter. 12.75% of the stock is currently owned by hedge funds and other institutional investors.

About ProFrac

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.