ProFrac Holding Corp. (NASDAQ:ACDC) Receives $7.50 Consensus Price Target from Analysts

Shares of ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) have earned a consensus recommendation of "Hold" from the four analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $7.50.

Several analysts recently commented on ACDC shares. Piper Sandler dropped their price target on ProFrac from $11.00 to $9.00 and set an "overweight" rating for the company in a research report on Monday, July 15th. Morgan Stanley cut ProFrac from an "equal weight" rating to an "underweight" rating and dropped their target price for the company from $7.00 to $6.50 in a report on Thursday, October 17th. Stifel Nicolaus cut ProFrac from a "buy" rating to a "hold" rating and set a $7.00 target price for the company. in a report on Friday, October 11th. Finally, Bank of America restated a "hold" rating and issued a $7.50 target price on shares of ProFrac in a report on Monday, October 14th.

ProFrac Price Performance

Shares of ACDC stock remained flat at $5.91 during trading hours on Monday. The stock had a trading volume of 496,788 shares, compared to its average volume of 887,573. The company has a current ratio of 1.01, a quick ratio of 0.64 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $946.49 million, a price-to-earnings ratio of -4.44 and a beta of 0.81. The business's fifty day moving average price is $6.57 and its 200 day moving average price is $7.45. ProFrac has a twelve month low of $5.16 and a twelve month high of $10.14.

ProFrac (NASDAQ:ACDC - Get Free Report) last issued its quarterly earnings results on Friday, August 9th. The company reported $0.02 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 firm had revenue of $579.40 million for the quarter, compared to analysts' expectations of $624.64 million. On average, equities analysts forecast that ProFrac will post -0.41 earnings per share for the current fiscal year.

Insider Transactions at ProFrac

In other ProFrac news, major shareholder Holdings Lp Thrc purchased 353,635 shares of the stock in a transaction dated Thursday, September 12th. The stock was acquired at an average cost of $6.17 per share, for a total transaction of $2,181,927.95. Following the acquisition, the insider now owns 79,197,549 shares in the company, valued at $488,648,877.33. 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 at the SEC website. In the last ninety days, insiders acquired 1,933,600 shares of company stock worth $12,207,161. 2.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ProFrac

Several hedge funds have recently bought and sold shares of ACDC. nVerses Capital LLC acquired a new position in ProFrac during the 2nd quarter worth about $44,000. Delta Investment Management LLC lifted its stake in ProFrac by 47.8% during the 1st quarter. Delta Investment Management LLC now owns 15,469 shares of the company's stock worth $129,000 after acquiring an additional 5,000 shares in the last quarter. Squarepoint Ops LLC acquired a new position in ProFrac during the 2nd quarter worth about $150,000. Susquehanna Fundamental Investments LLC acquired a new position in ProFrac during the 1st quarter worth about $357,000. Finally, Point72 Asset Management L.P. acquired a new position in ProFrac during the 2nd quarter worth about $365,000. Institutional investors and hedge funds 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.