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

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have received an average recommendation of “Hold” from the four analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $7.50.

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

ProFrac Price Performance

Shares of ACDC opened at $7.75 on Friday. ProFrac has a twelve month low of $5.16 and a twelve month high of $9.75. The firm’s fifty day simple moving average is $6.70 and its 200-day simple moving average is $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. The company has a current ratio of 0.95, a quick ratio of 0.62 and a debt-to-equity ratio of 0.86.

Insiders Place Their Bets

In other news, major shareholder Holdings Lp Thrc bought 6,136 shares of the stock in a transaction dated Friday, August 30th. The shares were acquired at an average price of $6.99 per share, with a total value of $42,890.64. Following the completion of the acquisition, the insider now directly owns 77,411,356 shares in the company, valued at approximately $541,105,378.44. The trade was a 0.01 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have acquired 1,345,218 shares of company stock valued at $8,578,268. Insiders own 2.93% of the company’s stock.

Institutional Trading of ProFrac

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in ProFrac by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 89,071 shares of the company’s stock worth $660,000 after buying an additional 5,312 shares in the last quarter. nVerses Capital LLC purchased a new stake in ProFrac during the second quarter worth about $44,000. Charles Schwab Investment Management Inc. raised its position in ProFrac by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 175,777 shares of the company’s stock worth $1,194,000 after acquiring an additional 6,063 shares during the last quarter. Bank of New York Mellon Corp raised its position in ProFrac by 12.1% during the second 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 acquired a new position in ProFrac during the third quarter worth about $87,000. Hedge funds and other institutional investors own 12.75% of the company’s stock.

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.