ProFrac Holding Corp. (NASDAQ: ACDC) stock fell -3.45% on Friday to $11.47 against a previous-day closing price of $11.88. With 1.93 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.57 million shares. During the session, the Oil & Gas Equipment & Services company that operates in wider Energy sector, reached to the highest price of $11.93 whereas the lowest price it dropped to was $11.38. The 52-week range on ACDC shows that it touched its highest point at $27.00 and its lowest point at $9.01 during that stretch. It currently has a 1-year price target of $15.08. Beta for the stock currently stands at 0.93.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ACDC was up-trending over the past week, with a rise of 2.96%, but this was up by 9.66% over a month. Three-month performance dropped to -16.34% while six-month performance fell -24.39%. The stock lost -45.04% in the past year, while it has lost -54.48% so far this year. A look at the trailing 12-month EPS for ACDC yields 2.19 with Next year EPS estimates of 1.41.
Float and Shares Shorts:
At present, 148.80 million ACDC shares are outstanding with a float of 20.88 million shares on hand for trading. On Aug 30, 2023, short shares totaled 3.24 million, which was 2.03% higher than short shares on Jul 30, 2023. In addition to Mr. Matthew D. Wilks as the firm’s Exec. Chairman & Pres, Mr. Johnathan L. Wilks serves as its Chief Exec. Officer.
Institutional Ownership:
Through their ownership of 13.22% of ACDC’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 85.04% of ACDC, in contrast to 6.46% held by mutual funds. Shares owned by individuals account for 5.28%. As the largest shareholder in ACDC with 1.87% of the stake, Encompass Capital Advisors LLC holds 2,971,989 shares worth 2,971,989. A second-largest stockholder of ACDC, The Vanguard Group, Inc., holds 2,421,142 shares, controlling over 1.52% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in ACDC, holding 1,698,760 shares or 1.07% stake. With a 0.50% stake in ACDC, the Canoe Energy Portfolio Class Seri is the largest stakeholder. A total of 801,970 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 0.41% of ACDC stock, is the second-largest Mutual Fund holder. It holds 655,619 shares valued at 7.21 million. Fidelity Select Energy Portfolio holds 0.40% of the stake in ACDC, owning 633,700 shares worth 6.97 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, ACDC reported revenue of $589.84M and operating income of $97.63M. The EBITDA in the recently reported quarter was $162.69M and diluted EPS was $0.16.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ACDC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ACDC analysts setting a high price target of $18.00 and a low target of $12.50, the average target price over the next 12 months is $14.93. Based on these targets, ACDC could surge 56.93% to reach the target high and rise by 8.98% to reach the target low. Reaching the average price target will result in a growth of 30.17% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded ACDC stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 32 while that of sell transactions has risen to 15 over the past year. The total number of shares bought during that period was 104,831,607 while 97,607,503 shares were sold.
