ProFrac (NASDAQ:ACDC) Trading Down 5.6% - Time to Sell?

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) traded down 5.6% on Monday . The company traded as low as $5.87 and last traded at $5.89. 128,610 shares were traded during mid-day trading, a decline of 86% from the average session volume of 891,262 shares. The stock had previously closed at $6.24.

Analyst Upgrades and Downgrades

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

ProFrac Price Performance

The company has a debt-to-equity ratio of 0.85, a current ratio of 1.01 and a quick ratio of 0.64. The stock has a market capitalization of $929.23 million, a P/E ratio of -6.32 and a beta of 0.81. The company's 50 day simple moving average is $6.65 and its two-hundred day simple moving average is $7.58.

ProFrac (NASDAQ:ACDC - Get Free Report) last issued its quarterly earnings data 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). 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 the consensus estimate of $624.64 million. As a group, equities analysts expect that ProFrac Holding Corp. will post -0.26 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Holdings Lp Thrc purchased 130,000 shares of the firm's stock in a transaction dated Thursday, August 15th. The shares were acquired at an average cost of $6.49 per share, with a total value of $843,700.00. Following the completion of the purchase, the insider now directly owns 76,800,545 shares of the company's stock, valued at $498,435,537.05. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 1,933,600 shares of company stock valued at $12,207,161 over the last three months. 2.93% of the stock is owned by insiders.

Hedge Funds Weigh In On ProFrac

Several large investors have recently bought and sold shares of ACDC. Susquehanna Fundamental Investments LLC acquired a new position in ProFrac in the first quarter valued at approximately $357,000. Delta Investment Management LLC lifted its holdings in ProFrac by 47.8% in the first 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 during the period. Virtu Financial LLC acquired a new position in ProFrac in the first quarter valued at approximately $401,000. Bank of New York Mellon Corp lifted its holdings in ProFrac by 12.1% in the second quarter. Bank of New York Mellon Corp now owns 117,720 shares of the company's stock valued at $872,000 after buying an additional 12,683 shares during the period. Finally, nVerses Capital LLC acquired a new position in ProFrac in the second quarter valued at approximately $44,000. 12.75% of the stock is currently owned by institutional investors and hedge funds.

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.