ProFrac (NASDAQ:ACDC) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of ProFrac (NASDAQ:ACDC) from a sell rating to a hold rating in a research note published on Saturday.

ACDC has been the topic of a number of other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProFrac in a research report on Friday, March 27th. UBS Group reissued a “positive” rating on shares of ProFrac in a report on Thursday, March 12th. Morgan Stanley raised their price objective on ProFrac from $4.00 to $5.00 and gave the company an “underweight” rating in a research note on Tuesday, March 24th. Finally, Zacks Research upgraded ProFrac from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $5.63.

ProFrac Stock Performance

NASDAQ ACDC opened at $6.08 on Friday. The stock has a market cap of $1.10 billion, a P/E ratio of -2.76 and a beta of 1.44. The company’s fifty day simple moving average is $5.68 and its 200-day simple moving average is $4.64. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.08. ProFrac has a 52 week low of $3.08 and a 52 week high of $10.70.

ProFrac (NASDAQ:ACDC) last released its quarterly 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 firm had revenue of $436.50 million for the quarter, compared to analyst estimates of $402.95 million. Equities research analysts predict that ProFrac will post -0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On ProFrac

A number of institutional investors have recently modified their holdings of ACDC. First Financial Bankshares Inc grew its stake in ProFrac by 30.1% in the third quarter. First Financial Bankshares Inc now owns 4,204,795 shares of the company’s stock worth $15,558,000 after purchasing an additional 973,062 shares in the last quarter. UBS Group AG raised its stake in ProFrac by 1,862.8% during the third 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 in the last quarter. Tudor Investment Corp ET AL bought a new position in ProFrac during the 3rd quarter worth approximately $2,377,000. AQR Capital Management LLC lifted its holdings in 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 during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its position in shares of ProFrac by 27.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,484,760 shares of the company’s stock worth $5,494,000 after acquiring an additional 322,860 shares in the last quarter. Institutional investors and hedge funds 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.