Holdings Lp Thrc Purchases 30,820 Shares of ProFrac (NASDAQ:ACDC) Stock

ProFrac Holding Corp. (NASDAQ:ACDC) major shareholder Holdings Lp Thrc bought 30,820 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were purchased at an average price of $4.81 per share, with a total value of $148,244.20. Following the acquisition, the insider directly owned 83,816,235 shares in the company, valued at approximately $403,156,090.35. This trade represents a 0.04% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Holdings Lp Thrc also recently made the following trade(s):

• On Monday, August 24th, Holdings Lp Thrc bought 363,757 shares of ProFrac stock. The shares were acquired at an average price of $4.70 per share, for a total transaction of $1,709,657.90.
• On Friday, August 21st, Holdings Lp Thrc purchased 212,650 shares of ProFrac stock. The stock was bought at an average price of $4.74 per share, with a total value of $1,007,961.00.

ProFrac Stock Down 1.1%

Shares of ACDC traded down $0.05 during midday trading on Wednesday, reaching $4.62. 1,196,358 shares of the company were exchanged, compared to its average volume of 2,011,822. ProFrac Holding Corp. has a 1-year low of $3.08 and a 1-year high of $8.22. The stock has a 50-day moving average price of $4.94 and a 200-day moving average price of $5.89. The company has a current ratio of 0.84, a quick ratio of 0.59 and a debt-to-equity ratio of 1.42. The company has a market cap of $841.39 million, a price-to-earnings ratio of -1.98 and a beta of 1.46.

Institutional Investors Weigh In On ProFrac

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its holdings in ProFrac by 156.5% in the first quarter. Dimensional Fund Advisors LP now owns 390,420 shares of the company’s stock worth $2,421,000 after buying an additional 238,210 shares during the last quarter. Walleye Capital LLC grew its stake in shares of ProFrac by 328.6% in the first quarter. Walleye Capital LLC now owns 347,911 shares of the company’s stock worth $2,157,000 after acquiring an additional 266,742 shares during the last quarter. Renaissance Technologies LLC bought a new position in ProFrac during the first quarter worth $872,000. Quantinno Capital Management LP raised its stake in ProFrac by 94.4% during the 1st quarter. Quantinno Capital Management LP now owns 48,072 shares of the company’s stock valued at $298,000 after purchasing an additional 23,347 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in ProFrac by 91.6% in the 1st quarter. Sei Investments Co. now owns 99,986 shares of the company’s stock valued at $620,000 after purchasing an additional 47,800 shares during the period. 12.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ACDC has been the topic of several research reports. Piper Sandler upped their price objective on ProFrac from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Monday, May 18th. Wall Street Zen lowered ProFrac from a “hold” rating to a “sell” rating in a research report on Sunday. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProFrac in a report on Wednesday, June 24th. Finally, Morgan Stanley reduced their price objective on ProFrac from $5.00 to $4.50 and set an “underweight” rating on the stock in a research note on Thursday, August 20th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $5.25.

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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.