ProFrac (NASDAQ:ACDC) Shares Gap Down - Time to Sell?

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $7.35, but opened at $7.12. ProFrac shares last traded at $7.01, with a volume of 128,340 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. 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 report on Friday. Bank of America lowered their price target on ProFrac from $9.50 to $8.50 and set a "neutral" rating for the company in a research report on Monday, July 15th. Finally, Piper Sandler lowered 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.

ProFrac Price Performance

The stock has a market cap of $1.17 billion, a P/E ratio of -7.90 and a beta of 0.81. The firm has a 50-day moving average price of $6.66 and a 200-day moving average price of $7.65. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.64 and a current ratio of 1.01.

ProFrac (NASDAQ:ACDC - Get Free Report) last announced 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 firm had revenue of $579.40 million during the quarter, compared to the consensus estimate of $624.64 million. On average, analysts forecast that ProFrac Holding Corp. will post -0.13 earnings per share for the current fiscal year.

Insider Transactions at ProFrac

In related news, major shareholder Holdings Lp Thrc acquired 411,383 shares of ProFrac stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average price of $6.03 per share, with a total value of $2,480,639.49. Following the transaction, the insider now directly owns 76,611,928 shares in the company, valued at approximately $461,969,925.84. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders bought 1,933,600 shares of company stock valued at $12,207,161. Corporate insiders own 2.93% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Delta Investment Management LLC increased its position in ProFrac by 47.8% during the 1st quarter. Delta Investment Management LLC now owns 15,469 shares of the company's stock valued at $129,000 after buying an additional 5,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of ProFrac by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 89,071 shares of the company's stock worth $660,000 after buying an additional 5,312 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of ProFrac in the 2nd quarter worth $44,000. Bank of New York Mellon Corp boosted its stake in shares of ProFrac by 12.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 117,720 shares of the company's stock worth $872,000 after buying an additional 12,683 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of ProFrac in the 2nd quarter worth $150,000. 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.