ProFrac Holding Corp. (NASDAQ:ACDC) Given Average Rating of “Hold” by Analysts

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have been given a consensus rating of “Hold” by the four research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $7.50.

A number of equities research analysts have commented on ACDC shares. Morgan Stanley lowered shares of ProFrac from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $7.00 to $6.50 in a report on Thursday, October 17th. Stifel Nicolaus cut shares of ProFrac from a “buy” rating to a “hold” rating and set a $7.00 price target on the stock. in a research note on Friday, October 11th. Finally, Bank of America reissued a “hold” rating and issued a $7.50 target price on shares of ProFrac in a research note on Monday, October 14th.

Insider Buying and Selling at ProFrac

In other news, major shareholder Holdings Lp Thrc purchased 786,193 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of $6.49 per share, for a total transaction of $5,102,392.57. Following the transaction, the insider now owns 78,197,549 shares of the company’s stock, valued at approximately $507,502,093.01. This trade represents a 1.02 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders acquired 1,345,218 shares of company stock valued at $8,578,268 in the last quarter. Company insiders own 2.93% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ACDC. nVerses Capital LLC purchased a new stake in ProFrac in the second quarter worth $44,000. Townsquare Capital LLC purchased a new stake in shares of ProFrac during the 3rd quarter valued at $87,000. Quantinno Capital Management LP bought a new stake in ProFrac during the third quarter worth about $100,000. Squarepoint Ops LLC bought a new stake in ProFrac in the 2nd quarter worth approximately $150,000. Finally, Barclays PLC boosted its stake in shares of ProFrac by 213.6% in the 3rd quarter. Barclays PLC now owns 29,215 shares of the company’s stock valued at $199,000 after purchasing an additional 19,898 shares in the last quarter. Institutional investors and hedge funds own 12.75% of the company’s stock.

ProFrac Stock Up 6.3 %

Shares of ACDC opened at $7.59 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.95 and a debt-to-equity ratio of 0.86. The company has a 50-day moving average price of $6.67 and a two-hundred day moving average price of $7.32. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -5.38 and a beta of 0.84. ProFrac has a 12 month low of $5.16 and a 12 month high of $9.75.

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.