ProFrac Holding Corp. (NASDAQ:ACDC) Receives $7.50 Consensus Target Price from Brokerages

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

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

ProFrac Stock Performance

Shares of ACDC stock opened at $7.75 on Friday. ProFrac has a one year low of $5.16 and a one year high of $9.75. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.62 and a current ratio of 0.95. The company has a 50 day moving average price of $6.70 and a 200 day moving average price of $7.33. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -5.50 and a beta of 0.84.

Insider Activity

In related news, major shareholder Holdings Lp Thrc purchased 353,635 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were purchased at an average cost of $6.17 per share, with a total value of $2,181,927.95. Following the completion of the acquisition, the insider now directly owns 79,197,549 shares of the company’s stock, valued at approximately $488,648,877.33. The trade was a 0.45 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders bought 1,345,218 shares of company stock worth $8,578,268. 2.93% of the stock is currently owned by company insiders.

Institutional Trading of ProFrac

Institutional investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC acquired a new stake in ProFrac in the second quarter valued at $44,000. Townsquare Capital LLC acquired a new stake in ProFrac in the third quarter valued at $87,000. Quantinno Capital Management LP acquired a new stake in ProFrac in the third quarter valued at $100,000. Squarepoint Ops LLC acquired a new stake in ProFrac in the second quarter valued at $150,000. Finally, Barclays PLC raised its holdings in ProFrac by 213.6% in the third quarter. Barclays PLC now owns 29,215 shares of the company’s stock valued at $199,000 after acquiring an additional 19,898 shares in the last quarter. 12.75% of the stock is owned by institutional investors and hedge funds.

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.