ProFrac (NASDAQ:ACDC) Posts Quarterly Earnings Results, Misses Estimates By $0.36 EPS

ProFrac (NASDAQ:ACDC) released its quarterly earnings results on Thursday. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.36), FiscalAI reports. ProFrac had a negative net margin of 16.86% and a negative return on equity of 32.01%. The company had revenue of $436.50 million during the quarter, compared to analyst estimates of $402.95 million.

ProFrac Stock Up 13.1%

NASDAQ:ACDC opened at $6.63 on Thursday. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -3.26 and a beta of 1.70. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 0.96. The stock’s 50 day moving average price is $4.99 and its two-hundred day moving average price is $4.35. ProFrac has a twelve month low of $3.08 and a twelve month high of $10.70.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ACDC shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProFrac in a research note on Monday, December 29th. Morgan Stanley reissued an “underweight” rating and issued a $4.00 price target on shares of ProFrac in a research note on Wednesday, January 21st. Finally, Zacks Research raised ProFrac from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 21st. Three investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, ProFrac has a consensus rating of “Reduce” and a consensus target price of $5.38.

Hedge Funds Weigh In On ProFrac

Hedge funds have recently added to or reduced their stakes in the stock. Orion Porfolio Solutions LLC lifted its stake in ProFrac by 102.4% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 23,466 shares of the company’s stock valued at $182,000 after purchasing an additional 11,870 shares during the last quarter. Jain Global LLC bought a new position in ProFrac in the fourth quarter valued at about $160,000. Mercer Global Advisors Inc. ADV boosted its stake in shares of ProFrac by 89.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 27,898 shares of the company’s stock valued at $109,000 after purchasing an additional 13,187 shares in the last quarter. Creative Planning bought a new stake in shares of ProFrac during the second quarter worth about $102,000. Finally, Quantbot Technologies LP acquired a new position in shares of ProFrac in the third quarter valued at approximately $94,000. Institutional investors 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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.