ProFrac Holding Corp. (NASDAQ:PFHC – Get Rating)’s stock price dropped 8.9% on Friday . The company traded as low as $15.19 and last traded at $15.27. Approximately 378 shares traded hands during mid-day trading, a decline of 100% from the average daily volume of 426,313 shares. The stock had previously closed at $16.77.
Analyst Ratings Changes
PFHC has been the topic of a number of recent analyst reports. Morgan Stanley lowered their price target on shares of ProFrac from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, July 13th. Seaport Res Ptn reiterated a “buy” rating on shares of ProFrac in a research note on Tuesday, June 7th. Piper Sandler assumed coverage on shares of ProFrac in a research note on Tuesday, June 7th. They issued an “overweight” rating and a $31.50 target price for the company. JPMorgan Chase & Co. assumed coverage on shares of ProFrac in a research note on Tuesday, June 7th. They set an “overweight” rating and a $25.00 price objective for the company. Finally, Johnson Rice assumed coverage on shares of ProFrac in a research note on Wednesday, June 22nd. They set a “buy” rating and a $31.00 price objective for the company. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $27.08.
ProFrac Stock Performance
The company has a current ratio of 1.63, a quick ratio of 1.20 and a debt-to-equity ratio of 2.35. The company’s fifty day moving average is $18.63.
Hedge Funds Weigh In On ProFrac
ProFrac Holding Corp., a vertically integrated and energy services company, provides hydraulic fracturing, completion, and other products and services to upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. It operates through three segments: Stimulation Services, Manufacturing, and Proppant Production.
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