Short Interest in ProFrac Holding Corp. (NASDAQ:ACDC) Declines By 5.8%

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 4,890,000 shares, a drop of 5.8% from the December 15th total of 5,190,000 shares. Based on an average daily volume of 542,900 shares, the short-interest ratio is currently 9.0 days.

Analyst Ratings Changes

Several analysts have recently commented on ACDC shares. JPMorgan Chase & Co. downgraded shares of ProFrac from a "neutral" rating to an "underweight" rating and set a $7.00 price objective on the stock. in a research report on Friday, December 6th. Stifel Nicolaus reduced their price target on shares of ProFrac from $7.00 to $6.00 and set a "hold" rating on the stock in a report on Monday, January 6th. Bank of America reiterated a "hold" rating and issued a $7.50 price target on shares of ProFrac in a report on Monday, October 14th. Finally, Morgan Stanley downgraded shares of ProFrac from an "equal weight" rating to an "underweight" rating and reduced their price target for the company from $7.00 to $6.50 in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $7.20.

ProFrac Price Performance

Shares of ProFrac stock traded down $0.31 during trading hours on Friday, reaching $8.91. The company's stock had a trading volume of 441,133 shares, compared to its average volume of 299,310. The firm has a 50 day moving average price of $7.80 and a 200-day moving average price of $7.21. ProFrac has a one year low of $5.16 and a one 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. The stock has a market cap of $1.43 billion, a P/E ratio of -6.32 and a beta of 1.20.

Institutional Trading of ProFrac

Large investors have recently made changes to their positions in the business. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of ProFrac by 114.4% during 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. Empowered Funds LLC purchased a new position in shares of ProFrac during the 3rd quarter worth about $3,764,000. American Century Companies Inc. boosted its stake in shares of ProFrac by 72.0% during the 2nd quarter. American Century Companies Inc. now owns 315,689 shares of the company's stock worth $2,339,000 after purchasing an additional 132,108 shares during the period. Marshall Wace LLP boosted its stake in shares of ProFrac by 1,632.1% during the 2nd quarter. Marshall Wace LLP now owns 242,491 shares of the company's stock worth $1,797,000 after purchasing an additional 228,491 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of ProFrac by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 175,777 shares of the company's stock worth $1,194,000 after purchasing an additional 6,063 shares during the period. 12.75% of the stock is currently owned by institutional investors.

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.