ProFrac Holding Corp. (NASDAQ:ACDC) Receives $7.40 Consensus Target Price from Brokerages

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) has received a consensus rating of "Reduce" from the five brokerages that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $7.40.

A number of brokerages have weighed in on ACDC. Bank of America restated a "hold" rating and issued a $7.50 price objective on shares of ProFrac in a report on Monday, October 14th. Morgan Stanley downgraded shares of ProFrac from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $7.00 to $6.50 in a research report on Thursday, October 17th. Stifel Nicolaus cut shares of 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, JPMorgan Chase & Co. lowered shares of ProFrac from a "neutral" rating to an "underweight" rating and set a $7.00 price objective for the company. in a report on Friday, December 6th.

Hedge Funds Weigh In On ProFrac

Several institutional investors have recently made changes to their positions in ACDC. American Century Companies Inc. raised its position in ProFrac by 72.0% in the second quarter. American Century Companies Inc. now owns 315,689 shares of the company's stock worth $2,339,000 after acquiring an additional 132,108 shares during the period. Hotchkis & Wiley Capital Management LLC raised its holdings in ProFrac by 114.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 831,320 shares of the company's stock worth $5,645,000 after purchasing an additional 443,530 shares during the period. Marshall Wace LLP lifted its position in ProFrac by 1,632.1% during the second quarter. Marshall Wace LLP now owns 242,491 shares of the company's stock valued at $1,797,000 after purchasing an additional 228,491 shares in the last quarter. Empowered Funds LLC bought a new stake in ProFrac during the third quarter valued at about $3,764,000. Finally, Point72 Asset Management L.P. purchased a new stake in ProFrac in the second quarter worth about $365,000. Institutional investors own 12.75% of the company's stock.

ProFrac Stock Up 1.5 %

Shares of NASDAQ ACDC traded up $0.11 during mid-day trading on Tuesday, hitting $7.50. 430,806 shares of the stock traded hands, compared to its average volume of 845,340. The stock has a fifty day moving average price of $7.16 and a 200-day moving average price of $7.24. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.62 and a current ratio of 0.95. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -5.32 and a beta of 1.15. ProFrac has a 52 week low of $5.16 and a 52 week high of $9.75.

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.