ProFrac (NASDAQ:ACDC) Stock Price Up 5.1% – Here’s What Happened

ProFrac Holding Corp. (NASDAQ:ACDC)’s stock price shot up 5.1% during trading on Monday . The company traded as high as $5.12 and last traded at $5.17. 309,030 shares traded hands during trading, a decline of 77% from the average session volume of 1,361,687 shares. The stock had previously closed at $4.92.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of ProFrac in a report on Wednesday, June 24th. Wall Street Zen downgraded shares of ProFrac from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Piper Sandler raised their target price on shares of ProFrac from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Monday, May 18th. Finally, Morgan Stanley boosted their price target on shares of ProFrac from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $6.00.

ProFrac Trading Up 3.6%

The firm has a market cap of $921.79 million, a P/E ratio of -2.01 and a beta of 1.42. The stock has a 50 day simple moving average of $6.55 and a 200-day simple moving average of $5.84. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ACDC. UBS Group AG raised its holdings in ProFrac by 1,862.8% during the 3rd quarter. UBS Group AG now owns 705,568 shares of the company’s stock valued at $2,611,000 after buying an additional 669,621 shares during the period. Tudor Investment Corp ET AL purchased a new position in ProFrac during the third quarter worth $2,377,000. AQR Capital Management LLC boosted its stake 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 period. Hotchkis & Wiley Capital Management LLC increased its position in ProFrac by 27.8% during 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 acquiring an additional 322,860 shares during the last quarter. Finally, HRT Financial LP raised its stake in shares of 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 acquiring an additional 307,696 shares during the period. 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.