Shares of ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) hit a new 52-week low during trading on Wednesday . The company traded as low as $5.52 and last traded at $5.54, with a volume of 38939 shares changing hands. The stock had previously closed at $5.67.
Analyst Ratings Changes
ACDC has been the topic of several recent research reports. Bank of America reiterated a "hold" rating and issued a $7.50 price target on shares of ProFrac in a research report on Monday, October 14th. Stifel Nicolaus downgraded ProFrac from a "buy" rating to a "hold" rating and set a $7.00 target price on the stock. in a research report on Friday, October 11th. Morgan Stanley cut ProFrac from an "equal weight" rating to an "underweight" rating and reduced their price target for the stock from $7.00 to $6.50 in a research report on Thursday, October 17th. Finally, Piper Sandler lowered their price objective on ProFrac from $11.00 to $9.00 and set an "overweight" rating on the stock in a research report on Monday, July 15th.
Get Our Latest Stock Analysis on ProFrac
ProFrac Price Performance
The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.64 and a current ratio of 1.01. The firm's fifty day moving average is $6.63 and its two-hundred day moving average is $7.53. The company has a market cap of $854.06 million, a P/E ratio of -5.66 and a beta of 0.81.
ProFrac (NASDAQ:ACDC - Get Free Report) last released its earnings results on Friday, August 9th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.12). ProFrac had a negative return on equity of 2.30% and a negative net margin of 8.58%. The business had revenue of $579.40 million for the quarter, compared to analysts' expectations of $624.64 million. As a group, analysts anticipate that ProFrac Holding Corp. will post -0.41 earnings per share for the current fiscal year.
Insider Activity
In other news, major shareholder Holdings Lp Thrc acquired 786,193 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average price of $6.49 per share, for a total transaction of $5,102,392.57. Following the completion of the transaction, the insider now directly owns 78,197,549 shares in the company, valued at approximately $507,502,093.01. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased a total of 1,933,600 shares of company stock worth $12,207,161 over the last quarter. Insiders own 2.93% of the company's stock.
Institutional Investors Weigh In On ProFrac
A number of hedge funds have recently bought and sold shares of ACDC. Point72 Asset Management L.P. bought a new stake in shares of ProFrac in the 2nd quarter valued at approximately $365,000. Squarepoint Ops LLC bought a new stake in ProFrac in the second quarter worth $150,000. Marshall Wace LLP boosted its stake in ProFrac by 1,632.1% during the second quarter. Marshall Wace LLP now owns 242,491 shares of the company's stock worth $1,797,000 after buying an additional 228,491 shares during the period. Dimensional Fund Advisors LP increased its position in ProFrac by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 89,071 shares of the company's stock valued at $660,000 after acquiring an additional 5,312 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of ProFrac by 72.0% in the second quarter. American Century Companies Inc. now owns 315,689 shares of the company's stock valued at $2,339,000 after acquiring an additional 132,108 shares during the period. Hedge funds and other institutional investors own 12.75% of the company's stock.
About ProFrac
(
Get Free Report)
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.
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