Stifel Nicolaus Cuts ProFrac (NASDAQ:ACDC) Price Target to $6.00

ProFrac (NASDAQ:ACDC) had its price objective cut by Stifel Nicolaus from $7.00 to $6.00 in a research report released on Monday,Benzinga reports. They currently have a hold rating on the stock.

Other equities research analysts have also recently issued reports about the company. Bank of America reiterated a “hold” rating and set a $7.50 price target on shares of ProFrac in a research report on Monday, October 14th. Morgan Stanley cut ProFrac from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $7.00 to $6.50 in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. cut ProFrac from a “neutral” rating to an “underweight” rating and set a $7.00 price target on the stock. in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, ProFrac has an average rating of “Hold” and an average price target of $7.20.

ProFrac Trading Down 3.4 %

Shares of ACDC opened at $7.63 on Monday. The business’s 50-day moving average price is $7.55 and its 200-day moving average price is $7.16. ProFrac has a twelve month low of $5.16 and a twelve month high of $9.75. The stock has a market cap of $1.22 billion, a PE ratio of -5.41 and a beta of 1.20. The company has a quick ratio of 0.62, a current ratio of 0.95 and a debt-to-equity ratio of 0.86.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ACDC. GAMMA Investing LLC boosted its stake in ProFrac by 110.7% in 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 in the last quarter. Barclays PLC boosted its stake in ProFrac by 213.6% in the third quarter. Barclays PLC now owns 29,215 shares of the company’s stock worth $199,000 after buying an additional 19,898 shares in the last quarter. Arete Wealth Advisors LLC boosted its stake in ProFrac by 478.8% in the third quarter. Arete Wealth Advisors LLC now owns 130,447 shares of the company’s stock worth $874,000 after buying an additional 107,908 shares in the last quarter. Quantinno Capital Management LP purchased a new stake in ProFrac in the third quarter worth approximately $100,000. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in ProFrac by 114.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 831,320 shares of the company’s stock worth $5,645,000 after buying an additional 443,530 shares in the last quarter. 12.75% of the stock is currently owned by institutional investors.

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.