GAMMA Investing LLC Has $345,000 Position in ProFrac Holding Corp. (NASDAQ:ACDC)

GAMMA Investing LLC lifted its holdings in 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 filing with the SEC.

Several other large investors have also made changes to their positions in the business. AlphaQuest LLC bought a new stake in ProFrac in the 4th quarter valued at $66,000. HighTower Advisors LLC bought a new position in shares of ProFrac during the 4th quarter worth about $85,000. Private Advisor Group LLC acquired a new position in shares of ProFrac during the fourth quarter valued at about $112,000. Quantinno Capital Management LP lifted its stake in shares of ProFrac by 11.3% in the fourth quarter. Quantinno Capital Management LP now owns 16,387 shares of the company's stock valued at $127,000 after buying an additional 1,670 shares during the period. Finally, Orion Portfolio Solutions LLC bought a new stake in shares of ProFrac in the fourth quarter valued at about $130,000. Institutional investors and hedge funds own 12.75% of the company's stock.

Analyst Ratings Changes

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

ProFrac Stock Down 2.6%

Shares of ACDC opened at $9.37 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.98 and a debt-to-equity ratio of 0.92. The company has a 50-day moving average price of $6.53 and a two-hundred day moving average price of $7.12. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -6.29 and a beta of 1.75. ProFrac Holding Corp. has a 12 month low of $3.83 and a 12 month high of $10.70.

ProFrac (NASDAQ:ACDC - Get Free Report) last posted its earnings results 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 11.85% and a negative net margin of 10.72%. Equities analysts predict that ProFrac Holding Corp. will post -0.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Matthew Wilks purchased 20,221 shares of ProFrac stock in a transaction on Friday, May 9th. The shares were purchased at an average cost of $4.32 per share, for a total transaction of $87,354.72. Following the completion of the transaction, the chairman now directly owns 308,977 shares in the company, valued at approximately $1,334,780.64. This represents a 7.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Holdings Lp Thrc acquired 23,599 shares of the firm's stock in a transaction on Monday, May 12th. The shares were purchased at an average cost of $4.85 per share, for a total transaction of $114,455.15. Following the completion of the purchase, the insider now directly owns 79,234,130 shares of the company's stock, valued at approximately $384,285,530.50. The trade was a 0.03% 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 over the last three months. 2.84% of the stock is currently owned by corporate insiders.

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.

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