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

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have received a consensus rating of “Hold” from the four ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $7.50.

Several equities analysts have recently issued reports on the company. Bank of America reissued a “hold” rating and set a $7.50 target price on shares of ProFrac in a research note on Monday, October 14th. 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. Finally, 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 report on Friday, October 11th.

Insider Activity

In related news, major shareholder Holdings Lp Thrc purchased 786,193 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $6.49 per share, for a total transaction of $5,102,392.57. Following the purchase, the insider now directly owns 78,197,549 shares of the company’s stock, valued at approximately $507,502,093.01. This represents a 1.02 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have acquired 1,307,298 shares of company stock worth $8,322,742. Corporate insiders own 2.93% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in shares of ProFrac by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 89,071 shares of the company’s stock valued at $660,000 after acquiring an additional 5,312 shares in the last quarter. nVerses Capital LLC bought a new stake in ProFrac during the 2nd quarter valued at about $44,000. Charles Schwab Investment Management Inc. lifted its stake in shares of ProFrac by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 175,777 shares of the company’s stock worth $1,194,000 after buying an additional 6,063 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in ProFrac by 12.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 117,720 shares of the company’s stock worth $872,000 after acquiring an additional 12,683 shares during the last quarter. Finally, Townsquare Capital LLC purchased a new stake in ProFrac during the 3rd quarter valued at $87,000. Hedge funds and other institutional investors own 12.75% of the company’s stock.

ProFrac Stock Up 8.2 %

NASDAQ ACDC opened at $9.13 on Friday. The business’s 50-day moving average is $6.83 and its 200 day moving average is $7.34. The stock has a market capitalization of $1.46 billion, a PE ratio of -6.48 and a beta of 0.84. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.95 and a quick ratio of 0.62. ProFrac has a 1 year low of $5.16 and a 1 year high of $9.75.

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.