ProFrac (ACDC) to Release Quarterly Earnings on Tuesday

ProFrac (NASDAQ:ACDC - Get Free Report) will announce its earnings results before the market opens on Tuesday, November 5th. Analysts expect the company to announce earnings of ($0.14) per share for the quarter. Investors interested in listening to the company's conference call can do so using this link.

ProFrac (NASDAQ:ACDC - Get Free Report) last announced its quarterly earnings results on Friday, August 9th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.12). The company had revenue of $579.40 million during the quarter, compared to analysts' expectations of $624.64 million. ProFrac had a negative net margin of 8.58% and a negative return on equity of 2.30%. On average, analysts expect ProFrac to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

ProFrac Stock Performance

Shares of NASDAQ ACDC traded up $0.05 during mid-day trading on Tuesday, hitting $5.96. The company had a trading volume of 417,182 shares, compared to its average volume of 885,346. The company has a market capitalization of $954.49 million, a price-to-earnings ratio of -4.48 and a beta of 0.81. ProFrac has a 1 year low of $5.16 and a 1 year high of $10.14. 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 stock's 50-day moving average price is $6.56 and its 200-day moving average price is $7.43.

Insiders Place Their Bets

In related news, major shareholder Holdings Lp Thrc bought 130,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $6.49 per share, with a total value of $843,700.00. Following the purchase, the insider now owns 76,800,545 shares in the company, valued at approximately $498,435,537.05. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders bought a total of 1,933,600 shares of company stock valued at $12,207,161 over the last 90 days. Insiders own 2.93% of the company's stock.

Wall Street Analyst Weigh In

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

About ProFrac

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.