60,437 Shares in ProFrac Holding Corp. (NASDAQ:ACDC) Bought by BNP Paribas Financial Markets

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

Other large investors also recently added to or reduced their stakes in the company. AlphaQuest LLC purchased a new position in ProFrac during the fourth quarter valued at approximately $66,000. Catalina Capital Group LLC acquired a new stake in shares of ProFrac during the fourth quarter worth $79,000. Stratos Investment Management LLC acquired a new stake in ProFrac during the 4th quarter worth about $84,000. HighTower Advisors LLC purchased a new position in shares of ProFrac in the fourth quarter worth about $85,000. Finally, Private Advisor Group LLC purchased a new stake in ProFrac in the fourth quarter valued at approximately $112,000. 12.75% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Holdings Lp Thrc bought 207,163 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were purchased at an average price of $6.25 per share, with a total value of $1,294,768.75. Following the purchase, the insider now owns 79,855,858 shares in the company, valued at approximately $499,099,112.50. The trade was a 0.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Farris Wilks acquired 338,756 shares of the stock in a transaction dated Wednesday, February 26th. The stock was acquired at an average cost of $6.93 per share, with a total value of $2,347,579.08. Following the purchase, the insider now owns 1,316,534 shares of the company's stock, valued at approximately $9,123,580.62. This trade represents a 34.65% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 1,072,752 shares of company stock valued at $6,704,539 over the last quarter. 2.84% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Stifel Nicolaus lowered their target price on ProFrac from $7.00 to $6.00 and set a "hold" rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley lowered their price objective on 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 research note on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, ProFrac has a consensus rating of "Hold" and a consensus price target of $6.90.

ProFrac Price Performance

NASDAQ ACDC traded up $0.51 during mid-day trading on Tuesday, hitting $6.99. The stock had a trading volume of 810,606 shares, compared to its average volume of 701,211. The firm's 50 day moving average is $5.68 and its 200 day moving average is $6.98. 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 stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -4.96 and a beta of 1.14. ProFrac Holding Corp. has a twelve month low of $3.83 and a twelve month high of $9.75.

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

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.