ProFrac (NASDAQ:ACDC) Shares Down 3.8%

ProFrac Holding Corp. (NASDAQ:ACDC)’s stock price traded down 3.8% during mid-day trading on Monday . The stock traded as low as $7.74 and last traded at $7.80. 176,622 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 897,041 shares. The stock had previously closed at $8.11.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Bank of America raised their target price on shares of ProFrac from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Monday, April 15th. Stifel Nicolaus cut their target price on shares of ProFrac from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, March 14th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, ProFrac currently has a consensus rating of “Hold” and an average price target of $12.50.

ProFrac Trading Up 2.6 %

The company has a quick ratio of 0.62, a current ratio of 0.98 and a debt-to-equity ratio of 0.74. The company’s fifty day simple moving average is $8.06 and its two-hundred day simple moving average is $8.20.

ProFrac (NASDAQ:ACDC) last released its quarterly earnings results on Friday, March 15th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.23). The company had revenue of $489.10 million during the quarter, compared to the consensus estimate of $594.17 million. ProFrac had a negative net margin of 3.98% and a positive return on equity of 3.04%. As a group, equities analysts forecast that ProFrac Holding Corp. will post 0.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ACDC. First Financial Bankshares Inc bought a new position in ProFrac in the 4th quarter valued at about $8,580,000. Russell Investments Group Ltd. increased its holdings in shares of ProFrac by 712.8% during the fourth quarter. Russell Investments Group Ltd. now owns 149,100 shares of the company’s stock worth $1,264,000 after purchasing an additional 130,757 shares during the period. CastleKnight Management LP bought a new position in shares of ProFrac during the fourth quarter worth approximately $956,000. Quest Partners LLC bought a new position in shares of ProFrac during the fourth quarter worth approximately $356,000. Finally, Aristides Capital LLC bought a new position in shares of ProFrac during the fourth quarter worth approximately $279,000. 12.75% of the stock is owned by institutional investors.

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.