ProFrac (NASDAQ:ACDC) Trading Down 6.5% – Should You Sell?

by · The Cerbat Gem

ProFrac Holding Corp. (NASDAQ:ACDC – Get Free Report)’s stock price fell 6.5% during mid-day trading on Tuesday . The company traded as low as $3.86 and last traded at $3.8890. 158,874 shares traded hands during trading, a decline of 85% from the average session volume of 1,077,911 shares. The stock had previously closed at $4.16.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Morgan Stanley set a $3.50 price objective on ProFrac in a report on Monday. Piper Sandler lowered their price objective on ProFrac from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Thursday, October 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProFrac in a report on Monday, December 8th. Finally, Zacks Research lowered ProFrac from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. Two equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Strong Sell” and a consensus price target of $5.25.

Get Our Latest Stock Report on ACDC

ProFrac Stock Performance

The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 0.96. The company’s 50 day moving average is $4.12 and its 200-day moving average is $5.48. The company has a market capitalization of $699.06 million, a P/E ratio of -1.89 and a beta of 1.72.

ProFrac (NASDAQ:ACDC – Get Free Report) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.17). ProFrac had a negative return on equity of 32.01% and a negative net margin of 16.86%.The business had revenue of $403.10 million during the quarter, compared to analysts’ expectations of $412.00 million. Equities analysts anticipate that ProFrac Holding Corp. will post -0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On ProFrac

Hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG grew its position in ProFrac by 64.7% during the 1st quarter. Deutsche Bank AG now owns 14,680 shares of the company’s stock valued at $111,000 after purchasing an additional 5,767 shares during the last quarter. Nuveen LLC purchased a new position in ProFrac in the 1st quarter worth approximately $444,000. American Century Companies Inc. lifted its position in ProFrac by 10.4% in the 1st quarter. American Century Companies Inc. now owns 583,820 shares of the company’s stock valued at $4,431,000 after acquiring an additional 54,908 shares in the last quarter. AlphaQuest LLC boosted its stake in ProFrac by 367.1% during the 1st quarter. AlphaQuest LLC now owns 39,699 shares of the company’s stock valued at $301,000 after purchasing an additional 31,200 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of ProFrac in the 1st quarter worth $97,000. 12.75% of the stock is owned by institutional investors.

ProFrac Company Profile

(Get Free Report)

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.

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