ProFrac (NASDAQ:ACDC) Shares Down 11.5% – Should You Sell?

ProFrac Holding Corp. (NASDAQ:ACDC) shares dropped 11.5% during trading on Wednesday . The stock traded as low as $5.46 and last traded at $5.33. 127,988 shares were traded during trading, a decline of 91% from the average daily volume of 1,353,525 shares. The stock had previously closed at $6.02.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ACDC. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProFrac in a research note on Wednesday. Piper Sandler increased their price objective on shares of ProFrac from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Monday, May 18th. Morgan Stanley raised their price objective on ProFrac from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Wednesday, April 15th. UBS Group reaffirmed a “positive” rating on shares of ProFrac in a research report on Thursday, March 12th. Finally, Wall Street Zen lowered ProFrac from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, ProFrac currently has an average rating of “Reduce” and an average price target of $6.00.

ProFrac Stock Up 6.9%

The company has a debt-to-equity ratio of 1.27, a current ratio of 0.82 and a quick ratio of 0.58. The firm’s 50 day moving average is $6.90 and its two-hundred day moving average is $5.76. The firm has a market capitalization of $1.03 billion, a P/E ratio of -2.24 and a beta of 1.41.

ProFrac (NASDAQ:ACDC) last issued its earnings results on Thursday, May 7th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.10). ProFrac had a negative return on equity of 44.39% and a negative net margin of 24.25%.The firm had revenue of $449.60 million for the quarter, compared to analyst estimates of $426.39 million. Research analysts predict that ProFrac Holding Corp. will post -1.15 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. UBS Group AG lifted its stake in ProFrac by 1,862.8% in the 3rd quarter. UBS Group AG now owns 705,568 shares of the company’s stock valued at $2,611,000 after purchasing an additional 669,621 shares during the last quarter. Tudor Investment Corp ET AL acquired a new position in ProFrac during the third quarter worth approximately $2,377,000. AQR Capital Management LLC increased its position in ProFrac by 61.7% during the fourth quarter. AQR Capital Management LLC now owns 1,638,822 shares of the company’s stock worth $6,375,000 after buying an additional 625,596 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in ProFrac by 27.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,484,760 shares of the company’s stock valued at $5,494,000 after buying an additional 322,860 shares during the period. Finally, HRT Financial LP raised its stake in ProFrac by 409.5% in the fourth quarter. HRT Financial LP now owns 382,837 shares of the company’s stock valued at $1,489,000 after buying an additional 307,696 shares during the period. 12.75% of the stock is currently owned by institutional investors and hedge funds.

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.