GSA Capital Partners LLP Purchases Shares of 72,261 ProFrac Holding Corp. (NASDAQ:ACDC)

GSA Capital Partners LLP purchased a new stake in shares of ProFrac Holding Corp. (NASDAQ:ACDC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 72,261 shares of the company's stock, valued at approximately $548,000.

Other hedge funds have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC lifted its holdings in ProFrac by 1,258.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 10,164 shares of the company's stock valued at $77,000 after purchasing an additional 9,416 shares during the last quarter. Quantinno Capital Management LP increased its position in ProFrac by 11.3% during the 4th quarter. Quantinno Capital Management LP now owns 16,387 shares of the company's stock worth $127,000 after buying an additional 1,670 shares during the period. Orion Portfolio Solutions LLC bought a new position in ProFrac during the 4th quarter worth $130,000. Bayesian Capital Management LP bought a new position in ProFrac during the 4th quarter worth $136,000. Finally, Jaffetilchin Investment Partners LLC bought a new position in ProFrac during the 1st quarter worth $152,000. Institutional investors and hedge funds own 12.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ACDC. Bank of America lowered ProFrac from a "neutral" rating to an "underperform" rating and set a $6.50 target price on the stock. in a report on Wednesday, June 25th. Stifel Nicolaus reduced their target price on ProFrac from $7.00 to $6.00 and set a "hold" rating on the stock in a report on Tuesday, April 15th. Wall Street Zen raised ProFrac from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Morgan Stanley reduced their target price on ProFrac from $7.00 to $5.00 and set an "underweight" rating on the stock in a report on Friday, May 16th. Finally, Piper Sandler began coverage on ProFrac in a report on Monday, July 14th. They set a "neutral" rating and a $8.00 target price on the stock. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $6.50.

ProFrac Stock Performance

NASDAQ:ACDC opened at $6.58 on Tuesday. The stock's 50-day simple moving average is $8.13 and its 200 day simple moving average is $7.09. The firm has a market capitalization of $1.05 billion, a PE ratio of -4.42 and a beta of 1.68. The company has a quick ratio of 0.69, a current ratio of 0.98 and a debt-to-equity ratio of 0.92. ProFrac Holding Corp. has a twelve month low of $3.83 and a twelve month high of $10.70.

ProFrac (NASDAQ:ACDC - Get Free Report) last released 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%. On average, analysts anticipate that ProFrac Holding Corp. will post -0.5 EPS for the current fiscal year.

Insider Activity

In other news, Chairman Matthew Wilks purchased 69,176 shares of ProFrac stock in a transaction dated Monday, May 12th. The shares were bought at an average cost of $4.85 per share, for a total transaction of $335,503.60. Following the completion of the acquisition, the chairman owned 378,153 shares in the company, valued at approximately $1,834,042.05. This trade represents a 22.39% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Holdings Lp Thrc purchased 207,163 shares of ProFrac stock in a transaction dated Friday, May 16th. The shares were purchased at an average price of $6.25 per share, for a total transaction of $1,294,768.75. Following the completion of the acquisition, the insider owned 79,855,858 shares of the company's stock, valued at approximately $499,099,112.50. The trade was a 0.26% 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 ninety days. 2.84% of the stock is currently owned by insiders.

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.

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