ProFrac Holding Corp. (NASDAQ:ACDC – Get Rating) shares were down 4% on Friday . The stock traded as low as $22.33 and last traded at $22.60. Approximately 137,235 shares traded hands during trading, a decline of 65% from the average daily volume of 389,246 shares. The stock had previously closed at $23.54.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on ACDC shares. Morgan Stanley decreased their price target on shares of ProFrac from $32.00 to $30.00 and set an "overweight" rating for the company in a research note on Wednesday, January 4th. Piper Sandler increased their price objective on ProFrac from $31.50 to $35.00 and gave the company an "overweight" rating in a report on Tuesday, January 10th. JPMorgan Chase & Co. increased their price objective on ProFrac from $30.00 to $32.00 and gave the company an "overweight" rating in a report on Thursday, January 12th. Finally, Stifel Nicolaus increased their price objective on ProFrac from $29.00 to $38.00 and gave the company a "buy" rating in a report on Monday, November 14th.
Get ProFrac alerts:ProFrac Stock Down 5.9 %
The company's fifty day moving average is $23.28.
ProFrac (NASDAQ:ACDC – Get Rating) last announced its quarterly earnings results on Monday, November 14th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.23. ProFrac had a negative return on equity of 26.10% and a net margin of 3.59%. The business had revenue of $696.73 million during the quarter, compared to the consensus estimate of $660.84 million. On average, equities research analysts anticipate that ProFrac Holding Corp. will post 3.27 earnings per share for the current year.About ProFrac
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ProFrac Holding Corp., a vertically integrated and energy services company, provides hydraulic fracturing, completion, and other products and services to upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. It operates through three segments: Stimulation Services, Manufacturing, and Proppant Production.
Further Reading
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