Brokerages Set ProFrac Holding Corp. (NASDAQ:ACDC) Price Target at $7.50

ProFrac Holding Corp. (NASDAQ:ACDC) has received a consensus recommendation of “Hold” from the four analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $7.50.

A number of equities analysts have recently commented on ACDC shares. Stifel Nicolaus lowered shares of 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. Piper Sandler dropped their target price on shares of ProFrac from $11.00 to $9.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Morgan Stanley lowered shares of ProFrac from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $7.00 to $6.50 in a research report on Thursday, October 17th. Finally, Bank of America reaffirmed a “hold” rating and set a $7.50 target price on shares of ProFrac in a research report on Monday, October 14th.

ProFrac Price Performance

Shares of ACDC opened at $6.13 on Monday. ProFrac has a twelve month low of $5.16 and a twelve month high of $10.14. The firm has a market cap of $981.72 million, a PE ratio of -4.61 and a beta of 0.81. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.64 and a current ratio of 1.01. The firm’s 50 day moving average price is $6.55 and its 200 day moving average price is $7.42.

ProFrac (NASDAQ:ACDC) last released its quarterly earnings results on Friday, August 9th. The company reported $0.02 EPS 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 firm had revenue of $579.40 million during the quarter, compared to the consensus estimate of $624.64 million. As a group, research analysts expect that ProFrac will post -0.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other ProFrac news, major shareholder Holdings Lp Thrc purchased 130,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average price of $6.49 per share, for a total transaction 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 approximately $498,435,537.05. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 1,933,600 shares of company stock worth $12,207,161 over the last 90 days. Corporate insiders own 2.93% of the company’s stock.

Institutional Investors Weigh In On ProFrac

Several institutional investors and hedge funds have recently made changes to their positions in ACDC. Susquehanna Fundamental Investments LLC acquired a new stake in shares of ProFrac in the 1st quarter valued at $357,000. Delta Investment Management LLC boosted its stake in shares of ProFrac by 47.8% in the 1st quarter. Delta Investment Management LLC now owns 15,469 shares of the company’s stock valued at $129,000 after purchasing an additional 5,000 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of ProFrac in the 1st quarter valued at $401,000. Bank of New York Mellon Corp boosted its stake in shares of ProFrac by 12.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 117,720 shares of the company’s stock valued at $872,000 after purchasing an additional 12,683 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in ProFrac during the 2nd quarter worth about $44,000. Institutional investors and hedge funds own 12.75% of the company’s stock.

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.