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

Shares of ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) have been given a consensus recommendation of "Hold" by the four ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $7.50.

ACDC has been the topic of a number of analyst reports. Stifel Nicolaus downgraded ProFrac from a "buy" rating to a "hold" rating and set a $7.00 price target on the stock. in a research report on Friday, October 11th. Bank of America reiterated a "hold" rating and set a $7.50 price objective on shares of ProFrac in a research note on Monday, October 14th. Finally, Morgan Stanley cut shares of 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 research report on Thursday, October 17th.

ProFrac Stock Performance

NASDAQ ACDC traded up $0.20 on Friday, reaching $7.75. The stock had a trading volume of 565,249 shares, compared to its average volume of 871,105. The firm has a fifty day moving average of $6.67 and a two-hundred day moving average of $7.32. The company has a market cap of $1.24 billion, a P/E ratio of -5.50 and a beta of 0.84. ProFrac has a 1-year low of $5.16 and a 1-year high of $9.75. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.95 and a quick ratio of 0.62.

Insider Buying and Selling

In other news, major shareholder Holdings Lp Thrc bought 6,136 shares of the stock in a transaction on Friday, August 30th. The stock was acquired at an average price of $6.99 per share, with a total value of $42,890.64. Following the acquisition, the insider now directly owns 77,411,356 shares in the company, valued at approximately $541,105,378.44. This trade represents a 0.01 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired a total of 1,345,218 shares of company stock worth $8,578,268 in the last ninety days. 2.93% of the stock is owned by insiders.

Hedge Funds Weigh In On ProFrac

Institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC increased its stake in shares of ProFrac by 213.6% in the third quarter. Barclays PLC now owns 29,215 shares of the company's stock valued at $199,000 after buying an additional 19,898 shares during the period. Arete Wealth Advisors LLC increased its stake in shares of ProFrac by 478.8% in the third quarter. Arete Wealth Advisors LLC now owns 130,447 shares of the company's stock valued at $874,000 after buying an additional 107,908 shares during the period. Quantinno Capital Management LP acquired a new stake in shares of ProFrac in the third quarter valued at about $100,000. Hotchkis & Wiley Capital Management LLC increased its stake in shares of ProFrac by 114.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 831,320 shares of the company's stock valued at $5,645,000 after buying an additional 443,530 shares during the period. Finally, Verition Fund Management LLC increased its stake in shares of ProFrac by 94.0% in the third quarter. Verition Fund Management LLC now owns 83,354 shares of the company's stock valued at $566,000 after buying an additional 40,390 shares during the period. Institutional investors and hedge funds own 12.75% of the company's stock.

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.