ProFrac (NASDAQ:ACDC) Upgraded at Wall Street Zen
by Michael Walen · The Markets DailyWall Street Zen upgraded shares of ProFrac (NASDAQ:ACDC – Free Report) from a sell rating to a hold rating in a research report report published on Saturday.
ACDC has been the topic of a number of other reports. Zacks Research raised shares of ProFrac from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProFrac in a research report on Friday, March 27th. Morgan Stanley lifted their target price on shares of ProFrac from $4.00 to $5.00 and gave the company an “underweight” rating in a research note on Tuesday, March 24th. Finally, UBS Group restated a “positive” rating on shares of ProFrac in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $5.63.
View Our Latest Research Report on ACDC
ProFrac Stock Down 2.3%
NASDAQ:ACDC opened at $5.94 on Friday. The business’s fifty day moving average price is $5.69 and its 200 day moving average price is $4.67. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -2.70 and a beta of 1.44. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.08. ProFrac has a 1-year low of $3.08 and a 1-year high of $10.70.
ProFrac (NASDAQ:ACDC – Get Free Report) last announced its quarterly earnings data on Friday, March 13th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.07). The business had revenue of $436.50 million for the quarter, compared to analyst estimates of $402.95 million. ProFrac had a negative return on equity of 33.18% and a negative net margin of 18.97%. On average, sell-side analysts forecast that ProFrac will post -0.5 earnings per share for the current fiscal year.
Hedge Funds Weigh In On ProFrac
Hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its position in ProFrac by 7,241.7% during the second quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock valued at $27,000 after acquiring an additional 3,476 shares in the last quarter. Raymond James Financial Inc. bought a new stake in ProFrac in the second quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of ProFrac during the 3rd quarter worth $45,000. Price T Rowe Associates Inc. MD acquired a new position in shares of ProFrac during the 4th quarter worth $46,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of ProFrac during the 4th quarter valued at $47,000. Institutional investors and hedge funds 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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.