ProFrac Holding Corp. (NASDAQ:ACDC) Short Interest Down 5.8% in December

ProFrac Holding Corp. (NASDAQ:ACDC) was the recipient of a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 4,890,000 shares, a decline of 5.8% from the December 15th total of 5,190,000 shares. Based on an average trading volume of 542,900 shares, the short-interest ratio is presently 9.0 days.

ProFrac Stock Down 3.4 %

ProFrac stock opened at $8.91 on Friday. The firm has a market capitalization of $1.43 billion, a PE ratio of -6.32 and a beta of 1.20. The company’s 50-day moving average is $7.80 and its 200-day moving average is $7.21. ProFrac has a fifty-two week low of $5.16 and a fifty-two week high of $9.75. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.95 and a quick ratio of 0.62.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ACDC. Empowered Funds LLC acquired a new position in ProFrac in the 3rd quarter valued at about $3,764,000. Hotchkis & Wiley Capital Management LLC grew its stake in ProFrac by 114.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 831,320 shares of the company’s stock valued at $5,645,000 after buying an additional 443,530 shares during the last quarter. Marshall Wace LLP grew its stake in ProFrac by 1,632.1% in the 2nd quarter. Marshall Wace LLP now owns 242,491 shares of the company’s stock valued at $1,797,000 after buying an additional 228,491 shares during the last quarter. American Century Companies Inc. grew its stake in ProFrac by 72.0% in the 2nd quarter. American Century Companies Inc. now owns 315,689 shares of the company’s stock valued at $2,339,000 after buying an additional 132,108 shares during the last quarter. Finally, Arete Wealth Advisors LLC grew its stake in ProFrac by 478.8% in the 3rd quarter. Arete Wealth Advisors LLC now owns 130,447 shares of the company’s stock valued at $874,000 after buying an additional 107,908 shares during the last quarter. Institutional investors and hedge funds own 12.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut shares of 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. Bank of America reaffirmed a “hold” rating and issued a $7.50 price objective on shares of ProFrac in a research report on Monday, October 14th. Stifel Nicolaus cut their price objective on shares of ProFrac from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. Finally, Morgan Stanley cut shares of ProFrac from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $7.00 to $6.50 in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.20.

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.