Analysts Set ProFrac Holding Corp. (NASDAQ:ACDC) Price Target at $11.88

ProFrac Holding Corp. (NASDAQ:ACDC) has earned a consensus recommendation of “Moderate Buy” from the four ratings firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $11.88.

ACDC has been the subject of several recent analyst reports. Stifel Nicolaus reduced their target price on shares of ProFrac from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, March 14th. Bank of America raised their target price on shares of ProFrac from $8.50 to $9.50 and gave the stock a “neutral” rating in a research note on Monday, April 15th.

ProFrac Trading Up 1.1 %

Shares of ProFrac stock opened at $7.41 on Tuesday. ProFrac has a 1 year low of $6.46 and a 1 year high of $14.23. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.71 and a current ratio of 1.07. The company has a market capitalization of $1.19 billion, a P/E ratio of -7.97 and a beta of 0.93. The company’s fifty day moving average is $8.24 and its two-hundred day moving average is $8.03.

ProFrac (NASDAQ:ACDC) last issued its quarterly earnings data on Friday, May 10th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. ProFrac had a negative net margin of 5.35% and a negative return on equity of 1.00%. The company had revenue of $581.50 million for the quarter, compared to the consensus estimate of $587.60 million. Analysts forecast that ProFrac will post 0.58 earnings per share for the current year.

Insider Activity at ProFrac

In other ProFrac news, major shareholder Holdings Lp Thrc bought 194,461 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was bought at an average price of $9.28 per share, for a total transaction of $1,804,598.08. Following the completion of the transaction, the insider now owns 74,935,006 shares in the company, valued at approximately $695,396,855.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Holdings Lp Thrc acquired 194,461 shares of ProFrac stock in a transaction that occurred on Thursday, May 23rd. The shares were acquired at an average price of $9.28 per share, with a total value of $1,804,598.08. Following the completion of the purchase, the insider now owns 74,935,006 shares of the company’s stock, valued at approximately $695,396,855.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Farris Wilks acquired 330,000 shares of ProFrac stock in a transaction that occurred on Thursday, April 25th. The shares were purchased at an average cost of $22.08 per share, for a total transaction of $7,286,400.00. Following the purchase, the insider now directly owns 58,541,444 shares of the company’s stock, valued at approximately $1,292,595,083.52. The disclosure for this purchase can be found here. Insiders purchased 964,678 shares of company stock worth $13,268,657 over the last 90 days. Company insiders own 2.93% of the company’s stock.

Hedge Funds Weigh In On ProFrac

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its position in shares of ProFrac by 42.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,827 shares of the company’s stock worth $58,000 after acquiring an additional 2,034 shares in the last quarter. Delta Investment Management LLC boosted its stake in shares of ProFrac by 47.8% in the first quarter. Delta Investment Management LLC now owns 15,469 shares of the company’s stock valued at $129,000 after purchasing an additional 5,000 shares during the period. Jump Financial LLC purchased a new position in shares of ProFrac in the fourth quarter valued at $179,000. Aristides Capital LLC purchased a new position in shares of ProFrac in the fourth quarter valued at $279,000. Finally, Quest Partners LLC acquired a new position in ProFrac during the 4th quarter worth $356,000. Institutional investors and hedge funds own 12.75% of the company’s stock.

About ProFrac

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.