ProFrac (NASDAQ:ACDC) Shares Down 4.3% – Should You Sell?

ProFrac Holding Corp. (NASDAQ:ACDCGet Free Report)’s stock price was down 4.3% during trading on Wednesday . The company traded as low as $8.66 and last traded at $8.63. Approximately 48,876 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 404,026 shares. The stock had previously closed at $9.02.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ACDC shares. Bank of America restated a “hold” rating and set a $7.50 target price on shares of ProFrac in a research report on Monday, October 14th. JPMorgan Chase & Co. lowered ProFrac from a “neutral” rating to an “underweight” rating and set a $7.00 price objective for the company. in a research note on Friday, December 6th. Morgan Stanley downgraded ProFrac from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $7.00 to $6.50 in a research report on Thursday, October 17th. Finally, Stifel Nicolaus dropped their price objective on shares of ProFrac from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.20.

Get Our Latest Analysis on ACDC

ProFrac Stock Performance

The firm’s 50 day moving average is $7.94 and its 200 day moving average is $7.25. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.62 and a current ratio of 0.95. The stock has a market cap of $1.36 billion, a P/E ratio of -6.03 and a beta of 1.20.

Hedge Funds Weigh In On ProFrac

Several hedge funds and other institutional investors have recently bought and sold shares of ACDC. GAMMA Investing LLC boosted its stake in ProFrac by 110.7% during the 4th quarter. GAMMA Investing LLC now owns 5,749 shares of the company’s stock worth $45,000 after purchasing an additional 3,021 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in ProFrac during the fourth quarter worth $57,000. Catalina Capital Group LLC acquired a new position in shares of ProFrac in the 4th quarter valued at $79,000. Townsquare Capital LLC purchased a new position in ProFrac during the third quarter worth about $87,000. Finally, Quantinno Capital Management LP acquired a new stake in ProFrac in the 3rd quarter valued at approximately $100,000. Institutional investors and hedge funds own 12.75% of the company’s stock.

About ProFrac

(Get Free Report)

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.

Further Reading

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