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

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

ProFrac Price Performance

Shares of ProFrac stock opened at $8.91 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.62 and a current ratio of 0.95. The firm’s 50-day simple moving average is $7.80 and its 200-day simple moving average is $7.21. ProFrac has a twelve month low of $5.16 and a twelve month high of $9.75. The firm has a market cap of $1.43 billion, a P/E ratio of -6.32 and a beta of 1.20.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Bank of America reiterated a “hold” rating and issued a $7.50 target price on shares of ProFrac in a report on Monday, October 14th. Morgan Stanley lowered shares of ProFrac from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $7.00 to $6.50 in a research report on Thursday, October 17th. Stifel Nicolaus decreased their price target 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, JPMorgan Chase & Co. lowered 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. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.20.

Institutional Trading of ProFrac

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its position in shares of ProFrac by 110.7% during the 4th quarter. GAMMA Investing LLC now owns 5,749 shares of the company’s stock valued at $45,000 after acquiring an additional 3,021 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in shares of ProFrac during the 4th quarter valued at about $57,000. Townsquare Capital LLC acquired a new stake in shares of ProFrac during the 3rd quarter valued at about $87,000. Quantinno Capital Management LP acquired a new stake in shares of ProFrac during the 3rd quarter valued at about $100,000. Finally, SG Americas Securities LLC acquired a new stake in shares of ProFrac during the 4th quarter valued at about $115,000. 12.75% of the stock is currently owned by institutional investors and hedge funds.

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.