ProFrac (NASDAQ:ACDC) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded ProFrac from “sell” to “hold.” However, the broader analyst consensus remains “Reduce,” with one Buy, two Hold, and two Sell ratings and an average price target of $5.25.
• ProFrac shares opened at $5.21, up 0.4%, with a market capitalization of approximately $949 million. The stock has traded between $3.08 and $8.22 over the past year.
• Insiders have continued buying shares, purchasing 2.01 million shares worth about $9.75 million over the past 90 days, while hedge funds and other institutional investors own 12.75% of the company.

ProFrac (NASDAQ:ACDC - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday, Wall Street Zen reports.

Several other research firms have also issued reports on ACDC. Weiss Ratings reissued a "sell (d-)" rating on shares of ProFrac in a research note on Wednesday, June 24th. Piper Sandler lifted their price target on ProFrac from $5.00 to $6.00 and gave the company a "neutral" rating in a research report on Monday, May 18th. Finally, Morgan Stanley dropped their price target on ProFrac from $5.00 to $4.50 and set an "underweight" rating for the company in a research report on Thursday, August 20th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $5.25.

ProFrac Stock Up 0.4%

ACDC opened at $5.21 on Friday. The company has a fifty day moving average price of $4.81 and a 200-day moving average price of $5.86. The firm has a market capitalization of $948.85 million, a P/E ratio of -2.24 and a beta of 1.49. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.59. ProFrac has a one year low of $3.08 and a one year high of $8.22.

Insider Transactions at ProFrac

In other news, major shareholder Holdings Lp Thrc purchased 30,820 shares of the stock in a transaction on Tuesday, August 25th. The shares were acquired at an average price of $4.81 per share, for a total transaction of $148,244.20. Following the completion of the transaction, the insider directly owned 83,816,235 shares of the company's stock, valued at approximately $403,156,090.35. This trade represents a 0.04% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Dan H. Wilks purchased 30,820 shares of the stock in a transaction on Tuesday, August 25th. The shares were purchased at an average price of $4.81 per share, for a total transaction of $148,244.20. Following the transaction, the insider directly owned 88,107,422 shares of the company's stock, valued at approximately $423,796,699.82. This represents a 0.03% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders purchased 2,014,454 shares of company stock valued at $9,750,117. Insiders own 2.23% of the company's stock.

Hedge Funds Weigh In On ProFrac

Large investors have recently modified their holdings of the company. Walleye Capital LLC lifted its position in ProFrac by 3.6% in the 4th quarter. Walleye Capital LLC now owns 81,169 shares of the company's stock worth $316,000 after buying an additional 2,785 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of ProFrac by 0.7% during the third quarter. Vanguard Group Inc. now owns 427,063 shares of the company's stock worth $1,580,000 after acquiring an additional 3,003 shares in the last quarter. Allworth Financial LP raised its stake in shares of ProFrac by 88.8% during the second quarter. Allworth Financial LP now owns 6,658 shares of the company's stock worth $39,000 after acquiring an additional 3,131 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of ProFrac by 3.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 96,957 shares of the company's stock worth $359,000 after acquiring an additional 3,318 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of ProFrac by 7,241.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company's stock worth $27,000 after acquiring an additional 3,476 shares during the last quarter. 12.75% of the stock is owned by hedge funds and other institutional investors.

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.

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