ProFrac (ACDC) Projected to Post Earnings on Thursday

ProFrac (NASDAQ:ACDC) will likely be announcing its earnings results before the market opens on Thursday, March 6th. Analysts expect the company to announce earnings of ($0.32) per share and revenue of $479.26 million for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

ProFrac Trading Up 0.8 %

Shares of NASDAQ:ACDC opened at $6.50 on Wednesday. The company has a market capitalization of $1.04 billion, a PE ratio of -4.61 and a beta of 1.19. The company has a current ratio of 0.95, a quick ratio of 0.62 and a debt-to-equity ratio of 0.86. ProFrac has a 12-month low of $5.16 and a 12-month high of $9.75. The business’s fifty day simple moving average is $7.80 and its 200-day simple moving average is $7.25.

Insider Transactions at ProFrac

In other ProFrac news, major shareholder Farris Wilks purchased 338,756 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was bought at an average cost of $6.93 per share, for a total transaction of $2,347,579.08. Following the completion of the purchase, the insider now owns 1,316,534 shares in the company, valued at $9,123,580.62. This represents a 34.65 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.93% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on ACDC. Stifel Nicolaus cut their target price on ProFrac from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. downgraded shares of ProFrac from a “neutral” rating to an “underweight” rating and set a $7.00 price objective on the stock. in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7.20.

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.