Stifel Nicolaus Increases ProFrac (NASDAQ:ACDC) Price Target to $7.00

ProFrac (NASDAQ:ACDC) had its target price upped by research analysts at Stifel Nicolaus from $6.00 to $7.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential downside of 5.21% from the stock’s current price.

Separately, JPMorgan Chase & Co. downgraded shares of ProFrac from a “neutral” rating to an “underweight” rating and set a $7.00 price target for the company. in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, ProFrac currently has an average rating of “Hold” and an average target price of $7.40.

ProFrac Stock Up 4.8 %

NASDAQ:ACDC traded up $0.34 during trading hours on Monday, hitting $7.39. The stock had a trading volume of 181,561 shares, compared to its average volume of 462,289. The business has a 50 day simple moving average of $7.75 and a two-hundred day simple moving average of $7.25. ProFrac has a 1-year low of $5.16 and a 1-year high of $9.75. The company has a current ratio of 0.95, a quick ratio of 0.62 and a debt-to-equity ratio of 0.86. The company has a market cap of $1.18 billion, a PE ratio of -5.24 and a beta of 1.18.

Insiders Place Their Bets

In other news, major shareholder Farris Wilks purchased 338,756 shares of the stock in a transaction dated Wednesday, February 26th. The stock was acquired at an average price of $6.93 per share, for a total transaction of $2,347,579.08. Following the completion of the transaction, the insider now owns 1,316,534 shares of the company’s stock, valued at approximately $9,123,580.62. The trade was a 34.65 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of ProFrac by 110.7% during the fourth quarter. GAMMA Investing LLC now owns 5,749 shares of the company’s stock worth $45,000 after buying an additional 3,021 shares during the period. Fortitude Family Office LLC bought a new stake in shares of ProFrac during the fourth quarter valued at about $57,000. AlphaQuest LLC bought a new position in ProFrac in the 4th quarter valued at about $66,000. Catalina Capital Group LLC bought a new stake in shares of ProFrac during the 4th quarter worth about $79,000. Finally, Stratos Investment Management LLC bought a new position in shares of ProFrac in the fourth quarter valued at approximately $84,000. Institutional investors 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.