ProFrac Holding Corp. (NASDAQ:ACDC) Receives Consensus Rating of “Strong Sell” from Brokerages

ProFrac Holding Corp. (NASDAQ:ACDC) has earned a consensus rating of “Strong Sell” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $5.25.

Several equities research analysts have commented on ACDC shares. Morgan Stanley set a $3.50 price target on shares of ProFrac in a report on Monday, December 15th. Zacks Research lowered ProFrac from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of ProFrac in a report on Monday, December 29th. Finally, Piper Sandler dropped their price objective on shares of ProFrac from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Thursday, October 16th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACDC. EverSource Wealth Advisors LLC boosted its stake in shares of ProFrac by 7,241.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock worth $27,000 after acquiring an additional 3,476 shares in the last quarter. Farther Finance Advisors LLC purchased a new position in ProFrac during the second quarter worth approximately $29,000. Raymond James Financial Inc. acquired a new stake in ProFrac in the second quarter valued at approximately $29,000. BNP Paribas Financial Markets increased its position in shares of ProFrac by 389.4% in the second quarter. BNP Paribas Financial Markets now owns 6,122 shares of the company’s stock valued at $48,000 after buying an additional 4,871 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of ProFrac by 822.3% in the second quarter. Tower Research Capital LLC TRC now owns 11,234 shares of the company’s stock valued at $87,000 after buying an additional 10,016 shares in the last quarter. Hedge funds and other institutional investors own 12.75% of the company’s stock.

ProFrac Price Performance

Shares of NASDAQ:ACDC opened at $4.21 on Friday. ProFrac has a twelve month low of $3.08 and a twelve month high of $10.70. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 0.96. The company has a market cap of $761.46 million, a PE ratio of -2.05 and a beta of 1.69. The company’s 50 day moving average is $4.10 and its 200 day moving average is $4.90.

ProFrac (NASDAQ:ACDC) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.17). ProFrac had a negative net margin of 16.86% and a negative return on equity of 32.01%. The business had revenue of $403.10 million during the quarter, compared to analysts’ expectations of $412.00 million. On average, sell-side analysts forecast that ProFrac will post -0.5 EPS for the current year.

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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.