Analysts Set ProFrac Holding Corp. (NASDAQ:ACDC) Target Price at $6.17

ProFrac Holding Corp. (NASDAQ:ACDC) has earned an average recommendation of “Reduce” from the six ratings firms that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $6.1667.

A number of brokerages have weighed in on ACDC. Morgan Stanley upped their price target on ProFrac from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Wednesday, April 15th. Wall Street Zen cut ProFrac from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. UBS Group reiterated a “positive” rating on shares of ProFrac in a research report on Thursday, March 12th. Piper Sandler upped their price target on ProFrac from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Monday, May 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ProFrac in a report on Friday, March 27th.

ProFrac Stock Performance

ACDC opened at $6.93 on Monday. The stock has a market cap of $1.25 billion, a PE ratio of -2.72 and a beta of 1.41. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. ProFrac has a 1 year low of $3.08 and a 1 year high of $10.70. The stock’s 50 day simple moving average is $6.78 and its 200-day simple moving average is $5.46.

ProFrac (NASDAQ:ACDC) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.10). ProFrac had a negative net margin of 24.25% and a negative return on equity of 44.39%. The company had revenue of $449.60 million during the quarter, compared to the consensus estimate of $426.39 million. Sell-side analysts forecast that ProFrac will post -1.15 EPS for the current year.

Institutional Trading of ProFrac

Large investors have recently made changes to their positions in the business. First Financial Bankshares Inc grew its holdings in shares of ProFrac by 30.1% during the third quarter. First Financial Bankshares Inc now owns 4,204,795 shares of the company’s stock worth $15,558,000 after purchasing an additional 973,062 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of ProFrac during the third quarter worth $2,377,000. JPMorgan Chase & Co. grew its holdings in shares of ProFrac by 125.8% during the third quarter. JPMorgan Chase & Co. now owns 228,477 shares of the company’s stock worth $845,000 after purchasing an additional 127,286 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of ProFrac during the third quarter worth $501,000. Finally, Merit Financial Group LLC bought a new stake in shares of ProFrac during the fourth quarter worth $48,000. Institutional investors own 12.75% of the company’s stock.

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.