ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $6.24, but opened at $6.54. ProFrac shares last traded at $6.93, with a volume of 303,644 shares traded.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on ACDC shares. Stifel Nicolaus lowered shares of ProFrac from a "buy" rating to a "hold" rating and set a $7.00 target price on the stock. in a report on Friday, October 11th. Bank of America restated a "hold" rating and issued a $7.50 target price on shares of ProFrac in a report on Monday, October 14th. Morgan Stanley lowered shares of ProFrac from an "equal weight" rating to an "underweight" rating and decreased their price objective for the company from $7.00 to $6.50 in a research note on Thursday, October 17th. Finally, Piper Sandler decreased their price objective on shares of ProFrac from $11.00 to $9.00 and set an "overweight" rating for the company in a research note on Monday, July 15th.
Get Our Latest Report on ACDC
ProFrac Stock Up 7.7 %
The stock's 50-day moving average price is $6.53 and its two-hundred day moving average price is $7.38. The stock has a market capitalization of $1.08 billion, a P/E ratio of -4.83 and a beta of 0.84. The company has a current ratio of 1.01, a quick ratio of 0.64 and a debt-to-equity ratio of 0.85.
ProFrac (NASDAQ:ACDC - Get Free Report) last released its earnings results on Friday, August 9th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.12). ProFrac had a negative net margin of 8.58% and a negative return on equity of 2.30%. The company had revenue of $579.40 million for the quarter, compared to the consensus estimate of $624.64 million. As a group, research analysts expect that ProFrac Holding Corp. will post -0.41 earnings per share for the current fiscal year.
Insider Buying and Selling
In other ProFrac news, major shareholder Holdings Lp Thrc acquired 130,000 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average cost of $6.49 per share, with a total value of $843,700.00. Following the acquisition, the insider now owns 76,800,545 shares in the company, valued at approximately $498,435,537.05. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders acquired 1,933,600 shares of company stock valued at $12,207,161. Company insiders own 2.93% of the company's stock.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of ACDC. Susquehanna Fundamental Investments LLC purchased a new stake in shares of ProFrac during the 1st quarter valued at $357,000. Delta Investment Management LLC raised its position in shares of 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. Virtu Financial LLC purchased a new stake in shares of ProFrac during the 1st quarter valued at $401,000. Bank of New York Mellon Corp raised its position in shares of ProFrac by 12.1% during the 2nd 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 in the last quarter. Finally, nVerses Capital LLC purchased a new stake in shares of ProFrac during the 2nd quarter valued at $44,000. 12.75% of the stock is owned by institutional investors.
About ProFrac
(
Get Free Report)
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.
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