ProFrac Holding Corp. (NASDAQ:ACDC – Get Free Report) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 5,660,000 shares, a decrease of 7.2% from the March 15th total of 6,100,000 shares. Based on an average daily volume of 891,800 shares, the short-interest ratio is presently 6.3 days.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on ACDC. Bank of America increased their price objective on shares of ProFrac from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Monday. Stifel Nicolaus cut their price target on ProFrac from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, March 14th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.50.
View Our Latest Research Report on ACDC
Institutional Investors Weigh In On ProFrac
ProFrac Trading Down 5.9 %
NASDAQ:ACDC opened at $7.49 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.98 and a quick ratio of 0.62. ProFrac has a one year low of $6.46 and a one year high of $14.32. The company has a market cap of $1.20 billion, a PE ratio of -14.13 and a beta of 0.71. The firm has a 50-day moving average of $7.99 and a 200-day moving average of $8.25.
ProFrac (NASDAQ:ACDC – Get Free Report) last released its quarterly earnings results on Friday, March 15th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.23). The company had revenue of $489.10 million for the quarter, compared to analyst estimates 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 research analysts expect that ProFrac will post 0.81 EPS for the current fiscal year.
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.
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