ProFrac (NASDAQ:ACDC) Trading Down 7.4% – Here’s Why

ProFrac Holding Corp. (NASDAQ:ACDC) shares were down 7.4% on Thursday . The company traded as low as $4.69 and last traded at $4.6860. 624,246 shares were traded during trading, a decline of 54% from the average daily volume of 1,361,959 shares. The stock had previously closed at $5.06.

Analysts Set New Price Targets

Several research firms recently weighed in on ACDC. Piper Sandler boosted their price target on shares of ProFrac from $5.00 to $6.00 and gave the stock a “neutral” rating in a 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 restated a “sell (d-)” rating on shares of ProFrac in a research note on Wednesday, June 24th. Finally, Morgan Stanley set a $5.00 price target on ProFrac in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ProFrac has an average rating of “Reduce” and an average target price of $5.50.

ProFrac Stock Down 10.8%

The company has a market capitalization of $816.85 million, a PE ratio of -1.76 and a beta of 1.42. The stock’s fifty day moving average is $6.22 and its two-hundred day moving average is $5.91. 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 (NASDAQ:ACDC) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.10). The company had revenue of $449.60 million for the quarter, compared to analysts’ expectations of $426.39 million. ProFrac had a negative return on equity of 44.39% and a negative net margin of 24.25%. As a group, analysts predict that ProFrac Holding Corp. will post -1.16 EPS for the current year.

Institutional Investors Weigh In On ProFrac

A number of hedge funds have recently modified their holdings of the stock. UBS Group AG raised its stake in shares of ProFrac by 1,862.8% in the third quarter. UBS Group AG now owns 705,568 shares of the company’s stock valued at $2,611,000 after buying an additional 669,621 shares during the period. Tudor Investment Corp ET AL bought a new position in shares of ProFrac during the 3rd quarter worth $2,377,000. AQR Capital Management LLC increased its holdings in ProFrac by 61.7% in the 4th quarter. AQR Capital Management LLC now owns 1,638,822 shares of the company’s stock worth $6,375,000 after acquiring an additional 625,596 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in ProFrac by 27.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,484,760 shares of the company’s stock worth $5,494,000 after acquiring an additional 322,860 shares during the last quarter. Finally, HRT Financial LP raised its stake in ProFrac by 409.5% in the 4th quarter. HRT Financial LP now owns 382,837 shares of the company’s stock valued at $1,489,000 after acquiring an additional 307,696 shares during the period. Institutional investors own 12.75% of the company’s stock.

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.