ProFrac Holding Corp. (NASDAQ:ACDC) Receives $7.40 Average Price Target from Analysts

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) have earned a consensus recommendation of “Reduce” from the five analysts that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $7.40.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new position in shares of ProFrac in the 2nd quarter worth about $44,000. Townsquare Capital LLC acquired a new stake in ProFrac during the 3rd quarter worth approximately $87,000. Quantinno Capital Management LP purchased a new position in ProFrac in the third quarter valued at approximately $100,000. Squarepoint Ops LLC acquired a new position in ProFrac during the second quarter valued at approximately $150,000. Finally, Barclays PLC grew its stake in ProFrac by 213.6% during the third quarter. Barclays PLC now owns 29,215 shares of the company’s stock worth $199,000 after buying an additional 19,898 shares during the period. Institutional investors and hedge funds own 12.75% of the company’s stock.

ProFrac Stock Down 2.1 %

ACDC opened at $6.99 on Tuesday. The business’s fifty day simple moving average is $7.15 and its 200 day simple moving average is $7.21. ProFrac has a 52 week low of $5.16 and a 52 week high of $9.75. The firm 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 quick ratio of 0.62, a current ratio of 0.95 and a debt-to-equity ratio of 0.86.

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.