Brokerages Set ProFrac Holding Corp. (NASDAQ:ACDC) Target Price at $5.25

ProFrac Holding Corp. (NASDAQ:ACDC) has received a consensus recommendation of “Reduce” from the five analysts that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $5.25.

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised ProFrac from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of ProFrac in a research report on Wednesday, June 24th. Finally, Morgan Stanley lowered their price target on ProFrac from $5.00 to $4.50 and set an “underweight” rating on the stock in a report on Thursday, August 20th.

Insider Activity at ProFrac

In related news, CEO Matthew Wilks bought 57,519 shares of the stock in a transaction on Monday, August 10th. The shares were purchased at an average price of $4.86 per share, with a total value of $279,542.34. Following the purchase, the chief executive officer owned 479,616 shares in the company, valued at approximately $2,330,933.76. This represents a 13.63% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Holdings Lp Thrc bought 363,757 shares of the stock in a transaction on Monday, August 24th. The shares were bought at an average cost of $4.70 per share, for a total transaction of $1,709,657.90. Following the purchase, the insider owned 83,785,415 shares in the company, valued at $393,791,450.50. This trade represents a 0.44% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 2,014,454 shares of company stock worth $9,750,117 in the last 90 days. Corporate insiders own 2.23% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Allworth Financial LP boosted its stake in shares of ProFrac by 88.8% during the 2nd quarter. Allworth Financial LP now owns 6,658 shares of the company’s stock valued at $39,000 after buying an additional 3,131 shares during the period. AXQ Capital LP increased its stake in shares of ProFrac by 11.0% in the second 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. Bank of New York Mellon Corp raised its holdings in shares of ProFrac by 17.0% during the first quarter. Bank of New York Mellon Corp now owns 79,914 shares of the company’s stock worth $495,000 after acquiring an additional 11,597 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of ProFrac during the second quarter worth $68,000. Finally, SG Americas Securities LLC purchased a new stake in shares of ProFrac during the first quarter worth $86,000. Institutional investors own 12.75% of the company’s stock.

ProFrac Trading Down 0.6%

Shares of NASDAQ:ACDC opened at $4.85 on Wednesday. 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’s 50-day moving average price is $4.81 and its 200 day moving average price is $5.86. The company has a market cap of $883.28 million, a PE ratio of -2.08 and a beta of 1.49. ProFrac has a fifty-two week low of $3.08 and a fifty-two week high of $8.22.

About ProFrac

ProFrac Holding Corp. (NASDAQ: ACDC) is an energy services company that provides hydraulic fracturing and other well-completion services to oil and natural gas exploration and production companies. Its services are used primarily during the development of unconventional wells, including shale and tight-oil formations.

The company operates a vertically integrated business that includes stimulation services, proppant production and equipment manufacturing. Its offerings include hydraulic fracturing fleets, frac sand and other proppants, well-completion chemicals, and related equipment and services designed to support the drilling and completion process.

ProFrac serves customers in major U.S.