ProFrac (NASDAQ:ACDC) Shares Gap Down to $7.93

ProFrac Holding Corp. (NASDAQ:ACDC)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $7.93, but opened at $7.76. ProFrac shares last traded at $8.00, with a volume of 66,680 shares changing hands.

Analyst Ratings Changes

ACDC has been the topic of several analyst reports. Bank of America increased their target price on ProFrac from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Monday. Stifel Nicolaus decreased their price objective on ProFrac from $12.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, March 14th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $12.50.

ProFrac Stock Up 1.5 %

The firm’s 50 day simple moving average is $8.00 and its two-hundred day simple moving average is $8.25. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -14.96 and a beta of 0.71. The company has a current ratio of 0.98, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74.

ProFrac (NASDAQ:ACDC) last posted its quarterly earnings data on Friday, March 15th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.23). The firm had revenue of $489.10 million during the quarter, compared to the consensus estimate of $594.17 million. ProFrac had a negative net margin of 3.98% and a positive return on equity of 3.04%. On average, equities analysts forecast that ProFrac Holding Corp. will post 0.88 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ACDC. BlackRock Inc. grew its position in ProFrac by 6.2% during the second quarter. BlackRock Inc. now owns 1,860,796 shares of the company’s stock valued at $20,766,000 after buying an additional 109,123 shares during the period. First Financial Bankshares Inc bought a new position in ProFrac during the fourth quarter worth about $8,580,000. State Street Corp boosted its position in shares of ProFrac by 36.5% in the first quarter. State Street Corp now owns 872,363 shares of the company’s stock valued at $11,053,000 after acquiring an additional 233,075 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of ProFrac by 134.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 820,658 shares of the company’s stock valued at $6,959,000 after acquiring an additional 470,282 shares during the period. Finally, FMR LLC bought a new position in shares of ProFrac in the first quarter valued at approximately $9,858,000. Institutional investors and hedge funds own 12.75% of the company’s stock.

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.