ProFrac (NASDAQ:ACDC) Stock Rating Reaffirmed by Bank of America

by · The Markets Daily

Bank of America reissued their hold rating on shares of ProFrac (NASDAQ:ACDC – Free Report) in a research note published on Monday, Stock Target Advisor reports. The firm currently has a $7.50 price target on the stock.

Several other analysts have also recently issued reports on the company. Piper Sandler cut their target price on ProFrac from $11.00 to $9.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Stifel Nicolaus cut ProFrac from a “buy” rating to a “hold” rating and set a $7.00 target price for the company. in a research report on Friday, October 11th.

View Our Latest Report on ACDC

ProFrac Stock Down 5.5 %

ProFrac stock opened at $6.58 on Monday. The stock has a market cap of $1.05 billion, a PE ratio of -7.08 and a beta of 0.81. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.64 and a current ratio of 1.01. ProFrac has a one year low of $5.59 and a one year high of $10.14. The stock has a fifty day moving average of $6.64 and a 200 day moving average of $7.61.

ProFrac (NASDAQ:ACDC – Get Free Report) last issued its quarterly earnings results on Friday, August 9th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). The company had revenue of $579.40 million during the quarter, compared to analysts’ expectations of $624.64 million. ProFrac had a negative return on equity of 2.30% and a negative net margin of 8.58%. As a group, sell-side analysts predict that ProFrac will post -0.13 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Holdings Lp Thrc acquired 130,000 shares of ProFrac stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $6.49 per share, for a total transaction of $843,700.00. Following the acquisition, the insider now directly owns 76,800,545 shares of the company’s stock, valued at $498,435,537.05. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders acquired 1,933,600 shares of company stock valued at $12,207,161. Insiders own 2.93% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ACDC. nVerses Capital LLC purchased a new position in shares of ProFrac in the 2nd quarter valued at $44,000. Delta Investment Management LLC increased its holdings in shares of ProFrac by 47.8% in the 1st quarter. Delta Investment Management LLC now owns 15,469 shares of the company’s stock valued at $129,000 after acquiring an additional 5,000 shares during the period. Squarepoint Ops LLC purchased a new position in shares of ProFrac in the 2nd quarter valued at $150,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of ProFrac in the 1st quarter valued at $357,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of ProFrac in the 2nd quarter valued at $365,000. 12.75% of the stock is currently owned by hedge funds and other institutional investors.

About ProFrac

(Get Free Report)

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.

Read More