BNP Paribas Financial Markets Acquires New Shares in ProFrac Holding Corp. (NASDAQ:ACDC)

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

Other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of ProFrac during the 4th quarter valued at $115,000. Wells Fargo & Company MN increased its stake in ProFrac by 52.0% in the fourth quarter. Wells Fargo & Company MN now owns 426,898 shares of the company's stock valued at $3,313,000 after acquiring an additional 146,028 shares during the last quarter. American Century Companies Inc. increased its stake in ProFrac by 12.8% in the fourth quarter. American Century Companies Inc. now owns 528,912 shares of the company's stock valued at $4,104,000 after acquiring an additional 59,908 shares during the last quarter. Bank of New York Mellon Corp increased its stake in ProFrac by 1,822.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,785,781 shares of the company's stock valued at $13,858,000 after acquiring an additional 1,692,908 shares during the last quarter. Finally, Private Advisor Group LLC bought a new position in ProFrac in the fourth quarter valued at approximately $112,000. 12.75% of the stock is currently owned by institutional investors.

ProFrac Stock Performance

Shares of ACDC traded up $0.18 during mid-day trading on Wednesday, hitting $7.18. The stock had a trading volume of 430,547 shares, compared to its average volume of 700,341. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.95 and a quick ratio of 0.62. The firm has a market cap of $1.15 billion, a P/E ratio of -5.13 and a beta of 1.14. ProFrac Holding Corp. has a 52 week low of $3.83 and a 52 week high of $9.75. The business has a fifty day moving average price of $5.66 and a 200-day moving average price of $6.98.

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

Insider Buying and Selling at ProFrac

In related news, major shareholder Holdings Lp Thrc bought 23,584 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were purchased at an average cost of $6.12 per share, with a total value of $144,334.08. Following the completion of the purchase, the insider now owns 79,258,442 shares in the company, valued at approximately $485,061,665.04. The trade was a 0.03% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Matthew Wilks bought 20,221 shares of the business's stock in a transaction dated Friday, May 9th. The stock was bought at an average cost of $4.32 per share, for a total transaction of $87,354.72. Following the completion of the purchase, the chairman now owns 308,977 shares of the company's stock, valued at approximately $1,334,780.64. The trade was a 7.00% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 733,996 shares of company stock worth $4,356,960. 2.84% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

ProFrac 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.