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

ProFrac Holding Corp. (NASDAQ:ACDC) saw a large decrease in short interest in April. As of April 15th, there was short interest totalling 5,310,000 shares, a decrease 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.

Institutional Trading of ProFrac

Large investors have recently modified their holdings of the stock. Peoples Bank KS acquired a new stake in shares of ProFrac during the 3rd quarter worth $33,000. Tower Research Capital LLC TRC grew its holdings in shares of ProFrac by 42.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,827 shares of the company’s stock worth $58,000 after purchasing an additional 2,034 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of ProFrac during the 3rd quarter worth $159,000. Jump Financial LLC acquired a new stake in shares of ProFrac during the 4th quarter worth $179,000. Finally, Aristides Capital LLC acquired a new stake in ProFrac in the fourth quarter valued at about $279,000. 12.75% of the stock is owned by institutional investors and hedge funds.

ProFrac Stock Performance

Shares of NASDAQ ACDC opened at $7.27 on Wednesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.98 and a quick ratio of 0.62. The stock’s fifty day moving average price is $8.13 and its two-hundred day moving average price is $8.15. ProFrac has a one year low of $6.46 and a one year high of $14.32. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -13.72 and a beta of 0.71.

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 the consensus estimate of $0.04 by ($0.23). The company had revenue of $489.10 million for the quarter, compared to analyst estimates of $594.17 million. ProFrac had a positive return on equity of 3.04% and a negative net margin of 3.98%. On average, equities analysts forecast that ProFrac will post 0.84 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ACDC shares. Bank of America increased their price target on ProFrac from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Monday, April 15th. Stifel Nicolaus dropped their price target on ProFrac from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, March 14th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, ProFrac currently has a consensus rating of “Hold” and a consensus price target 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.