ProFrac (NASDAQ:ACDC) Issues Quarterly Earnings Results

ProFrac (NASDAQ:ACDC) posted its earnings results on Thursday. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.36), FiscalAI reports. The firm had revenue of $436.50 million during the quarter, compared to the consensus estimate of $402.95 million. ProFrac had a negative net margin of 16.86% and a negative return on equity of 32.01%.

ProFrac Stock Up 0.3%

ACDC stock opened at $5.86 on Thursday. The firm has a 50-day moving average price of $4.99 and a 200-day moving average price of $4.35. ProFrac has a 12 month low of $3.08 and a 12 month high of $10.70. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $1.06 billion, a P/E ratio of -2.86 and a beta of 1.70.

Hedge Funds Weigh In On ProFrac

A number of hedge funds have recently bought and sold shares of ACDC. Quartz Partners LLC increased its holdings in ProFrac by 56.9% during the 4th quarter. Quartz Partners LLC now owns 16,907 shares of the company’s stock worth $66,000 after purchasing an additional 6,134 shares in the last quarter. Intech Investment Management LLC lifted its holdings in ProFrac by 27.2% during the third quarter. Intech Investment Management LLC now owns 16,434 shares of the company’s stock valued at $61,000 after purchasing an additional 3,514 shares during the last quarter. Verition Fund Management LLC bought a new position in ProFrac during the fourth quarter worth about $58,000. Captrust Financial Advisors bought a new stake in shares of ProFrac in the fourth quarter valued at approximately $56,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of ProFrac during the 3rd quarter valued at approximately $54,000. Institutional investors own 12.75% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ACDC shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProFrac in a report on Monday, December 29th. Morgan Stanley restated an “underweight” rating and set a $4.00 target price on shares of ProFrac in a research report on Wednesday, January 21st. Finally, Zacks Research raised ProFrac from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 21st. Three research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $5.38.

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.