Matthew Wilks Purchases 22,481 Shares of ProFrac (NASDAQ:ACDC) Stock

ProFrac Holding Corp. (NASDAQ:ACDC) CEO Matthew Wilks acquired 22,481 shares of ProFrac stock in a transaction on Tuesday, August 11th. The stock was purchased at an average price of $5.44 per share, with a total value of $122,296.64. Following the transaction, the chief executive officer directly owned 502,097 shares in the company, valued at approximately $2,731,407.68. This trade represents a 4.69% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Matthew Wilks also recently made the following trade(s):

• On Monday, August 10th, Matthew Wilks acquired 57,519 shares of ProFrac stock. The shares were purchased at an average cost of $4.86 per share, for a total transaction of $279,542.34.

ProFrac Stock Performance

ACDC opened at $5.26 on Friday. The stock’s 50 day simple moving average is $5.32 and its 200-day simple moving average is $5.90. 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 stock has a market cap of $951.64 million, a PE ratio of -2.26 and a beta of 1.46. ProFrac Holding Corp. has a 1 year low of $3.08 and a 1 year high of $8.22.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ACDC. Morgan Stanley set a $5.00 price target on shares of ProFrac in a report on Wednesday, July 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProFrac in a research report on Wednesday, June 24th. Piper Sandler upped their target price on shares of ProFrac from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Monday, May 18th. Finally, Wall Street Zen lowered shares of ProFrac from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. 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 company’s stock. According to data from MarketBeat.com, ProFrac presently has a consensus rating of “Reduce” and an average price target of $5.50.

ProFrac News Roundup

Here are the key news stories impacting ProFrac this week:

• Positive Sentiment: CEO Matthew Wilks purchased 80,000 shares across August 10 and 11 for approximately $401,839, increasing his position by roughly 22%. Major shareholder Dan H. Wilks also bought 720,000 shares for approximately $3.62 million. The transactions may support sentiment by signaling that insiders view recent prices as attractive. Matthew Wilks Buys 22,481 Shares of ProFrac Stock
• Neutral Sentiment: During its Q2 earnings call, ProFrac discussed ongoing growth opportunities and the need to maintain operating and capital-allocation discipline. The outlook appears constructive for demand, but investors are likely focused on whether expansion can translate into stronger cash generation. ProFrac Q2 Earnings Call: Growth, Cash Strain, Discipline
• Negative Sentiment: Analysts’ questions on the Q2 call highlighted investor concerns about ProFrac’s cash strain, financial flexibility and the pace at which growth investments can produce returns. Those issues may limit valuation upside, particularly given the company’s elevated leverage and weak liquidity ratios. Five revealing analyst questions from ProFrac’s Q2 earnings call

Institutional Trading of ProFrac

A number of large investors have recently bought and sold shares of the stock. Walleye Capital LLC increased its position in shares of ProFrac by 328.6% during the 1st quarter. Walleye Capital LLC now owns 347,911 shares of the company’s stock worth $2,157,000 after purchasing an additional 266,742 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in ProFrac by 156.5% in the first quarter. Dimensional Fund Advisors LP now owns 390,420 shares of the company’s stock valued at $2,421,000 after buying an additional 238,210 shares in the last quarter. Renaissance Technologies LLC acquired a new position in ProFrac in the first quarter valued at about $872,000. Sei Investments Co. grew its stake in ProFrac by 91.6% during the first quarter. Sei Investments Co. now owns 99,986 shares of the company’s stock worth $620,000 after buying an additional 47,800 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of ProFrac by 17.0% during the first quarter. Bank of New York Mellon Corp now owns 79,914 shares of the company’s stock worth $495,000 after buying an additional 11,597 shares in the last quarter. 12.75% of the stock is currently owned by institutional investors.

About ProFrac

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.