BNP Paribas Financial Markets Takes $469,000 Position 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 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 60,437 shares of the company's stock, valued at approximately $469,000.

Several other hedge funds have also added to or reduced their stakes in ACDC. SG Americas Securities LLC purchased a new position in ProFrac during the 4th quarter valued at about $115,000. Catalina Capital Group LLC purchased a new position in shares of ProFrac in the 4th quarter worth about $79,000. Stratos Investment Management LLC purchased a new stake in ProFrac in the fourth quarter worth approximately $84,000. Bleakley Financial Group LLC purchased a new position in ProFrac in the 4th quarter worth $455,000. Finally, Empowered Funds LLC boosted its holdings in ProFrac by 5.1% during the 4th quarter. Empowered Funds LLC now owns 582,767 shares of the company's stock valued at $4,522,000 after acquiring an additional 28,370 shares during the period. Institutional investors own 12.75% of the company's stock.

Insider Buying and Selling

In other news, Chairman Matthew Wilks bought 20,221 shares of the stock in a transaction on 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 directly owns 308,977 shares in the company, valued at approximately $1,334,780.64. The trade was a 7.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Holdings Lp Thrc purchased 390,253 shares of ProFrac stock in a transaction dated Thursday, May 15th. The shares were acquired at an average cost of $6.10 per share, for a total transaction of $2,380,543.30. Following the completion of the transaction, the insider now owns 79,648,695 shares of the company's stock, valued at approximately $485,857,039.50. This represents a 0.49% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 733,996 shares of company stock worth $4,356,960 in the last three months. 2.84% of the stock is owned by insiders.

ProFrac Trading Up 9.7%

ProFrac stock traded up $0.70 during midday trading on Thursday, reaching $7.93. The stock had a trading volume of 1,065,535 shares, compared to its average volume of 699,410. ProFrac Holding Corp. has a 52-week low of $3.83 and a 52-week high of $9.75. The company has a quick ratio of 0.62, a current ratio of 0.95 and a debt-to-equity ratio of 0.86. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -5.62 and a beta of 1.14. The company has a fifty day moving average of $5.66 and a 200 day moving average of $6.98.

ProFrac (NASDAQ:ACDC - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.11) earnings per share (EPS) 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%. On average, analysts anticipate that ProFrac Holding Corp. will post -0.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on ACDC shares. Wall Street Zen raised shares of ProFrac from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Morgan Stanley decreased their target price on shares of ProFrac from $7.00 to $5.00 and set an "underweight" rating for the company in a report on Friday, May 16th. Finally, Stifel Nicolaus lowered their price target on ProFrac from $7.00 to $6.00 and set a "hold" rating on the stock in a report on Tuesday, April 15th. Two equities 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 stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $6.90.

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.