BNP Paribas Financial Markets Buys Shares of 60,437 ProFrac Holding Corp. (NASDAQ:ACDC)

BNP Paribas Financial Markets purchased a new stake in shares of ProFrac Holding Corp. (NASDAQ:ACDC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 60,437 shares of the company's stock, valued at approximately $469,000.

A number of other large investors have also made changes to their positions in ACDC. AlphaQuest LLC bought a new position in ProFrac in the 4th quarter worth $66,000. Catalina Capital Group LLC bought a new position in shares of ProFrac in the fourth quarter worth about $79,000. Stratos Investment Management LLC purchased a new position in shares of ProFrac during the 4th quarter valued at about $84,000. HighTower Advisors LLC purchased a new position in shares of ProFrac during the 4th quarter valued at about $85,000. Finally, Private Advisor Group LLC purchased a new stake in ProFrac in the 4th quarter worth approximately $112,000. 12.75% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Chairman Matthew Wilks purchased 20,221 shares of the business's stock in a transaction dated Friday, May 9th. The shares were acquired at an average cost of $4.32 per share, for a total transaction of $87,354.72. Following the acquisition, the chairman now owns 308,977 shares of the company's stock, valued at $1,334,780.64. The trade was a 7.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Holdings Lp Thrc bought 23,584 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was bought at an average price of $6.12 per share, for a total transaction of $144,334.08. Following the purchase, the insider now directly owns 79,258,442 shares of the company's stock, valued at $485,061,665.04. The trade was a 0.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 733,996 shares of company stock worth $4,356,960. 2.84% of the stock is currently owned by company insiders.

ProFrac Trading Up 1.1%

ACDC stock traded up $0.08 during midday trading on Thursday, reaching $7.31. The company's stock had a trading volume of 100,779 shares, compared to its average volume of 664,984. The stock has a fifty day simple moving average of $5.65 and a two-hundred day simple moving average of $6.98. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.62 and a current ratio of 0.95. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -5.18 and a beta of 1.14. ProFrac Holding Corp. has a 1 year low of $3.83 and a 1 year high of $9.75.

ProFrac (NASDAQ:ACDC - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.31) by $0.20. ProFrac had a negative net margin of 9.51% and a negative return on equity of 3.54%. On average, equities research analysts predict that ProFrac Holding Corp. will post -0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ACDC shares. Stifel Nicolaus lowered their price target on shares of ProFrac from $7.00 to $6.00 and set a "hold" rating on the stock in a report on Tuesday, April 15th. Morgan Stanley decreased their price objective on shares of ProFrac from $7.00 to $5.00 and set an "underweight" rating on the stock in a research report on Friday, May 16th. Finally, Wall Street Zen raised shares of ProFrac from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, ProFrac currently has an average rating of "Hold" and an average price target of $6.90.

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.