ProFrac Holding Corp. (ACDC) Stock Jumps 23.0%: Will It Continue to Soar?

ProFrac Holding Corp. (ACDC) shares soared 23% in the last trading session to close at $5.30. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 40.6% loss over the past four weeks.An analyst from Stifel has recently raised the target price for ProFrac Holding Corp.’s stocks. This might have led to ACDC’s latest share price hike.This company is expected to post quarterly loss of $0.31 per share in its upcoming report, which represents a year-over-year change of -1133.3%. Revenues are expected to be $488.95 million, down 15.9% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For ProFrac Holding Corp., the consensus EPS estimate for the quarter has been revised 11.7% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on ACDC going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>ProFrac Holding Corp. is part of the Zacks Alternative Energy - Other industry. Ormat Technologies (ORA), another stock in the same industry, closed the last trading session 4.6% higher at $69.45. ORA has returned -6.6% in the past month.For Ormat Technologies, the consensus EPS estimate for the upcoming report has changed -10.9% over the past month to $0.58. This represents a change of -10.8% from what the company reported a year ago. Ormat Technologies currently has a Zacks Rank of #3 (Hold).7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ProFrac Holding Corp. (ACDC): Free Stock Analysis Report Ormat Technologies, Inc. (ORA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks