ProFrac Holding Corp. (NASDAQ:ACDC) Given Average Rating of “Moderate Buy” by Brokerages

ProFrac Holding Corp. (NASDAQ:ACDC) has received an average rating of “Moderate Buy” from the four ratings firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $9.63.

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus lowered their price objective on ProFrac from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Bank of America lowered their price target on ProFrac from $9.50 to $8.50 and set a “neutral” rating on the stock in a report on Monday, July 15th. Finally, Piper Sandler cut their price objective on ProFrac from $11.00 to $9.00 and set an “overweight” rating for the company in a report on Monday, July 15th.

ProFrac Stock Down 1.2 %

ACDC stock opened at $6.51 on Wednesday. The business has a 50 day moving average of $7.48 and a 200 day moving average of $7.92. The firm has a market cap of $1.04 billion, a PE ratio of -7.00 and a beta of 0.85. ProFrac has a twelve month low of $5.59 and a twelve month high of $11.94. The company has a quick ratio of 0.71, a current ratio of 1.01 and a debt-to-equity ratio of 0.85.

Insider Activity

In related news, major shareholder Holdings Lp Thrc bought 130,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average cost of $6.49 per share, with a total value of $843,700.00. Following the acquisition, the insider now owns 76,800,545 shares in the company, valued at $498,435,537.05. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders acquired a total of 1,176,061 shares of company stock valued at $9,306,597 in the last 90 days. Company insiders own 2.93% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC purchased a new position in ProFrac during the second quarter valued at approximately $44,000. Tower Research Capital LLC TRC raised its position in shares of ProFrac by 42.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,827 shares of the company’s stock valued at $58,000 after purchasing an additional 2,034 shares during the period. Delta Investment Management LLC lifted its stake in shares of ProFrac by 47.8% during the 1st quarter. Delta Investment Management LLC now owns 15,469 shares of the company’s stock valued at $129,000 after buying an additional 5,000 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of ProFrac during the 2nd quarter valued at $150,000. Finally, Jump Financial LLC purchased a new stake in ProFrac in the 4th quarter worth $179,000. 12.75% of the stock is currently owned by institutional investors.

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.