ProFrac Holding Corp (NASDAQ: ACDC) stock jumped 3.95% on Friday to $8.42 against a previous-day closing price of $8.10. With 0.73 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.64 million shares. During the session, the Oil & Gas Equipment & Services company that operates in wider Energy sector, reached to the highest price of $8.45 whereas the lowest price it dropped to was $8.20. The 52-week range on ACDC shows that it touched its highest point at $26.23 and its lowest point at $7.75 during that stretch. It currently has a 1-year price target of $13.50. Beta for the stock currently stands at 0.71.
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 5.51%, but this was down by -13.46% over a month. Three-month performance dropped to -21.01% while six-month performance fell -28.64%. The stock lost -66.40% in the past year, while it has lost -66.59% so far this year. A look at the trailing 12-month EPS for ACDC yields 0.93 with Next year EPS estimates of 1.30. For the next quarter, that number is 0.08. This implies an EPS growth rate of -79.68% for this year and 209.61% for next year.
Float and Shares Shorts:
At present, 54.00 million ACDC shares are outstanding with a float of 18.26 million shares on hand for trading. On Oct 30, 2023, short shares totaled 3.85 million, which was 2.42% higher than short shares on Sep 28, 2023. In addition to Mr. Matthew D. Wilks as the firm’s Executive Chairman & President, Mr. Johnathan L. Wilks serves as its Chief Executive Officer.
Institutional Ownership:
Other institutions hold 85.82% of ACDC, in contrast to 5.13% held by mutual funds. Shares owned by individuals account for 4.80%. As the largest shareholder in ACDC with 1.40% of the stake, The Vanguard Group, Inc. holds 2,236,069 shares worth 2,236,069. A second-largest stockholder of ACDC, Encompass Capital Advisors LLC, holds 1,581,164 shares, controlling over 0.99% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in ACDC, holding 1,509,057 shares or 0.95% stake. With a 0.56% stake in ACDC, the Canoe Energy Portfolio Class Seri is the largest stakeholder. A total of 894,489 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 6.18 million. Fidelity Select Energy Portfolio holds 0.40% of the stake in ACDC, owning 633,700 shares worth 5.97 million.
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 $15.00 and a low target of $10.50, the average target price over the next 12 months is $13.50. Based on these targets, ACDC could surge 78.15% to reach the target high and rise by 24.7% to reach the target low. Reaching the average price target will result in a growth of 60.33% from current levels.
Summary of Insider Activity:
Insiders traded ACDC stock several times over the past three months with 1 Buys and 0 Sells. In these transactions, 3,409 shares were bought while 0 shares were sold. The number of buy transactions has increased to 31 while that of sell transactions has risen to 15 over the past year. The total number of shares bought during that period was 100,738,882 while 97,607,503 shares were sold.
