ProFrac Holding Corp. (NASDAQ:ACDC) Position Boosted by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in shares of ProFrac Holding Corp. (NASDAQ:ACDC - Free Report) by 689.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,396 shares of the company's stock after purchasing an additional 39,647 shares during the period. GAMMA Investing LLC's holdings in ProFrac were worth $345,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Quantinno Capital Management LP raised its stake in ProFrac by 11.3% during the fourth quarter. Quantinno Capital Management LP now owns 16,387 shares of the company's stock worth $127,000 after acquiring an additional 1,670 shares during the period. Bridgeway Capital Management LLC grew its stake in ProFrac by 2.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,055,267 shares of the company's stock worth $8,189,000 after buying an additional 28,370 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in ProFrac in the fourth quarter worth $136,000. BNP Paribas Financial Markets bought a new stake in ProFrac in the fourth quarter valued at $469,000. Finally, Ameriprise Financial Inc. boosted its holdings in shares of ProFrac by 36.2% during the fourth quarter. Ameriprise Financial Inc. now owns 148,760 shares of the company's stock valued at $1,154,000 after acquiring an additional 39,560 shares during the period. 12.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, Chairman Matthew Wilks bought 20,221 shares of the firm's 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 acquisition, the chairman now directly owns 308,977 shares in the company, valued at $1,334,780.64. This represents a 7.00% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Holdings Lp Thrc purchased 23,599 shares of ProFrac stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average price of $4.85 per share, with a total value of $114,455.15. Following the transaction, the insider now owns 79,234,130 shares in the company, valued at $384,285,530.50. This represents a 0.03% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 733,996 shares of company stock worth $4,356,960. Corporate insiders own 2.84% of the company's stock.

ProFrac Price Performance

NASDAQ:ACDC traded down $0.02 during midday trading on Tuesday, hitting $8.23. 1,219,219 shares of the stock were exchanged, compared to its average volume of 720,522. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -5.52 and a beta of 1.74. The company has a current ratio of 0.98, a quick ratio of 0.69 and a debt-to-equity ratio of 0.92. ProFrac Holding Corp. has a one year low of $3.83 and a one year high of $10.70. The business has a 50-day moving average price of $6.60 and a two-hundred day moving average price of $7.11.

ProFrac (NASDAQ:ACDC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.20. ProFrac had a negative return on equity of 11.85% and a negative net margin of 10.72%. Sell-side analysts predict that ProFrac Holding Corp. will post -0.5 EPS for the current 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.