ProFrac Holding Corp. (NASDAQ:ACDC) Short Interest Update

ProFrac Holding Corp. (NASDAQ:ACDC) was the recipient of a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 5,310,000 shares, a decline of 6.2% from the March 31st total of 5,660,000 shares. Based on an average daily volume of 937,400 shares, the short-interest ratio is presently 5.7 days.

ProFrac Price Performance

ProFrac stock opened at $6.83 on Thursday. ProFrac has a 52-week low of $6.46 and a 52-week high of $14.32. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -12.89 and a beta of 0.71. The company has a fifty day simple moving average of $8.12 and a 200-day simple moving average of $8.14. The company has a quick ratio of 0.62, a current ratio of 0.98 and a debt-to-equity ratio of 0.74.

ProFrac (NASDAQ:ACDC) last released its earnings results on Friday, March 15th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.23). ProFrac had a positive return on equity of 3.04% and a negative net margin of 3.98%. The business had revenue of $489.10 million for the quarter, compared to analysts’ expectations of $594.17 million. On average, equities analysts anticipate that ProFrac will post 0.84 EPS for the current fiscal year.

Institutional Investors Weigh In On ProFrac

A number of hedge funds have recently modified their holdings of ACDC. Tower Research Capital LLC TRC increased its position in shares of ProFrac by 42.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,827 shares of the company’s stock valued at $58,000 after acquiring an additional 2,034 shares during the last quarter. Pinnacle Associates Ltd. raised its position in ProFrac by 34.9% in the fourth quarter. Pinnacle Associates Ltd. now owns 116,405 shares of the company’s stock valued at $987,000 after purchasing an additional 30,085 shares during the period. SG Americas Securities LLC acquired a new position in ProFrac during the third quarter worth $159,000. New York State Common Retirement Fund boosted its position in shares of ProFrac by 56.4% during the third quarter. New York State Common Retirement Fund now owns 48,661 shares of the company’s stock worth $529,000 after buying an additional 17,539 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of ProFrac by 5.0% in the third quarter. Bank of New York Mellon Corp now owns 172,244 shares of the company’s stock valued at $1,874,000 after buying an additional 8,265 shares in the last quarter. Hedge funds and other institutional investors own 12.75% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Stifel Nicolaus reduced their price objective on shares of ProFrac from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, March 14th. Bank of America upped their target price on shares of ProFrac from $8.50 to $9.50 and gave the stock a “neutral” rating in a report on Monday, April 15th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, ProFrac currently has an average rating of “Hold” and an average target price of $12.50.

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.