Brokerages Set ProFrac Holding Corp. (NASDAQ:ACDC) PT at $5.38

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have received an average rating of “Reduce” from the seven brokerages that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $5.3750.

ACDC has been the subject of several recent analyst reports. Zacks Research raised shares of ProFrac from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of ProFrac in a report on Monday, December 29th. UBS Group restated a “positive” rating on shares of ProFrac in a research report on Thursday, March 12th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $4.00 price target on shares of ProFrac in a report on Wednesday, January 21st.

Institutional Investors Weigh In On ProFrac

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACDC. First Financial Bankshares Inc boosted its holdings in shares of ProFrac by 30.1% in the 3rd quarter. First Financial Bankshares Inc now owns 4,204,795 shares of the company’s stock valued at $15,558,000 after purchasing an additional 973,062 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of ProFrac by 61.7% during the 4th 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 in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of ProFrac by 27.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,484,760 shares of the company’s stock worth $5,494,000 after buying an additional 322,860 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in shares of ProFrac by 2.8% during the 2nd quarter. Bridgeway Capital Management LLC now owns 1,199,562 shares of the company’s stock worth $9,309,000 after buying an additional 32,382 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in ProFrac by 12.1% in the fourth quarter. Wells Fargo & Company MN now owns 1,088,687 shares of the company’s stock valued at $4,235,000 after buying an additional 117,608 shares in the last quarter. 12.75% of the stock is currently owned by institutional investors.

ProFrac Price Performance

ProFrac stock opened at $6.42 on Wednesday. The firm has a market cap of $1.16 billion, a PE ratio of -2.92 and a beta of 1.70. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.81 and a quick ratio of 0.56. The stock’s fifty day moving average price is $5.34 and its two-hundred day moving average price is $4.47. ProFrac has a one year low of $3.08 and a one year high of $10.70.

ProFrac (NASDAQ:ACDC) last released its earnings results on Friday, March 13th. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.07). ProFrac had a negative net margin of 18.97% and a negative return on equity of 33.18%. The company had revenue of $436.50 million for the quarter, compared to the consensus estimate of $402.95 million. As a group, research analysts expect that ProFrac will post -0.5 EPS for the current fiscal year.

About ProFrac

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.