ProFrac (NASDAQ:ACDC) PT Lowered to $10.00 at Stifel Nicolaus

ProFrac (NASDAQ:ACDC) had its price objective lowered by Stifel Nicolaus from $12.00 to $10.00 in a report published on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

ProFrac Price Performance

ProFrac stock traded down $0.10 on Thursday, reaching $7.82. The company’s stock had a trading volume of 1,132,344 shares, compared to its average volume of 845,977. ProFrac has a twelve month low of $6.46 and a twelve month high of $15.32. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 7.90 and a beta of 0.70. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.58 and a current ratio of 0.96. The business’s fifty day moving average price is $7.56 and its 200 day moving average price is $8.67.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Encompass Capital Advisors LLC acquired a new stake in shares of ProFrac in the 2nd quarter valued at $33,167,000. BlackRock Inc. increased its position in ProFrac by 6.2% in the second quarter. BlackRock Inc. now owns 1,860,796 shares of the company’s stock worth $20,766,000 after purchasing an additional 109,123 shares during the period. First Financial Bankshares Inc bought a new stake in ProFrac during the 4th quarter worth about $8,580,000. State Street Corp lifted its position in ProFrac by 36.5% during the 1st quarter. State Street Corp now owns 872,363 shares of the company’s stock valued at $11,053,000 after purchasing an additional 233,075 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of ProFrac by 134.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 820,658 shares of the company’s stock valued at $6,959,000 after purchasing an additional 470,282 shares during the last quarter.

ProFrac Company Profile

ProFrac Holding Corp., an integrated energy services company, provides stimulation services, proppants production, and other complementary products and services to oil and gas companies in the United States. It operates through three segments: Stimulation Services, Manufacturing, and Proppant Production.