Analysts Set ProFrac Holding Corp. (NASDAQ:ACDC) PT at $7.40

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have earned an average rating of “Reduce” from the five research firms that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $7.40.

A number of research firms have recently issued reports on ACDC. Morgan Stanley lowered shares of ProFrac from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $7.00 to $6.50 in a research note on Thursday, October 17th. Stifel Nicolaus downgraded shares of ProFrac from a “buy” rating to a “hold” rating and set a $7.00 price target on the stock. in a research note on Friday, October 11th. JPMorgan Chase & Co. cut shares of ProFrac from a “neutral” rating to an “underweight” rating and set a $7.00 price objective for the company. in a research report on Friday, December 6th. Finally, Bank of America reaffirmed a “hold” rating and set a $7.50 target price on shares of ProFrac in a research report on Monday, October 14th.

Institutional Investors Weigh In On ProFrac

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC grew its stake in ProFrac by 213.6% in the third quarter. Barclays PLC now owns 29,215 shares of the company’s stock worth $199,000 after purchasing an additional 19,898 shares in the last quarter. Arete Wealth Advisors LLC lifted its holdings in ProFrac by 478.8% during the 3rd quarter. Arete Wealth Advisors LLC now owns 130,447 shares of the company’s stock worth $874,000 after buying an additional 107,908 shares during the last quarter. Quantinno Capital Management LP acquired a new position in shares of ProFrac in the 3rd quarter worth approximately $100,000. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of ProFrac by 114.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 831,320 shares of the company’s stock valued at $5,645,000 after acquiring an additional 443,530 shares during the last quarter. Finally, Verition Fund Management LLC raised its position in shares of ProFrac by 94.0% during the 3rd quarter. Verition Fund Management LLC now owns 83,354 shares of the company’s stock valued at $566,000 after acquiring an additional 40,390 shares in the last quarter. Institutional investors own 12.75% of the company’s stock.

ProFrac Stock Performance

Shares of NASDAQ:ACDC opened at $6.99 on Tuesday. The business’s 50-day simple moving average is $7.15 and its 200 day simple moving average is $7.21. The company has a market cap of $1.12 billion, a P/E ratio of -4.96 and a beta of 1.15. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.62 and a current ratio of 0.95. ProFrac has a one year low of $5.16 and a one year high of $9.75.

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.