GSA Capital Partners LLP Takes $548,000 Position in ProFrac Holding Corp. (NASDAQ:ACDC)

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

A number of other large investors also recently added to or reduced their stakes in the business. Jaffetilchin Investment Partners LLC purchased a new position in ProFrac in the 1st quarter worth $152,000. Inscription Capital LLC bought a new stake in ProFrac in the 1st quarter worth $206,000. Exchange Traded Concepts LLC grew its holdings in ProFrac by 1,258.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 10,164 shares of the company's stock worth $77,000 after acquiring an additional 9,416 shares during the last quarter. GAMMA Investing LLC grew its holdings in ProFrac by 689.6% in the 1st quarter. GAMMA Investing LLC now owns 45,396 shares of the company's stock worth $345,000 after acquiring an additional 39,647 shares during the last quarter. Finally, Quantinno Capital Management LP grew its holdings in ProFrac by 11.3% in the 4th 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 last quarter. Hedge funds and other institutional investors own 12.75% of the company's stock.

Wall Street Analyst Weigh In

ACDC has been the topic of a number of recent analyst reports. Bank of America lowered shares of ProFrac from a "neutral" rating to an "underperform" rating and set a $6.50 price target on the stock. in a report on Wednesday, June 25th. Morgan Stanley cut their target price on shares of ProFrac from $7.00 to $5.00 and set an "underweight" rating on the stock in a research note on Friday, May 16th. Piper Sandler began coverage on shares of ProFrac in a research note on Monday, July 14th. They set a "neutral" rating and a $8.00 target price on the stock. Wall Street Zen raised shares of ProFrac from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Stifel Nicolaus cut their target price on shares of ProFrac from $7.00 to $6.00 and set a "hold" rating on the stock in a research note on Tuesday, April 15th. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $6.50.

Insider Activity

In other news, Chairman Matthew Wilks bought 69,176 shares of the company's stock in a transaction dated Monday, May 12th. The shares were purchased at an average price of $4.85 per share, for a total transaction of $335,503.60. Following the completion of the purchase, the chairman owned 378,153 shares in the company, valued at approximately $1,834,042.05. This represents a 22.39% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Holdings Lp Thrc bought 207,163 shares of the company's stock in a transaction dated Friday, May 16th. The stock was purchased at an average price of $6.25 per share, for a total transaction of $1,294,768.75. Following the purchase, the insider owned 79,855,858 shares of the company's stock, valued at approximately $499,099,112.50. This represents a 0.26% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 713,775 shares of company stock worth $4,269,605 in the last three months. 2.84% of the stock is currently owned by insiders.

ProFrac Stock Up 3.3%

NASDAQ:ACDC traded up $0.21 during mid-day trading on Friday, hitting $6.33. 236,279 shares of the company's stock were exchanged, compared to its average volume of 673,603. ProFrac Holding Corp. has a one year low of $3.83 and a one year high of $10.70. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.98 and a quick ratio of 0.69. The business has a fifty day moving average price of $8.07 and a 200 day moving average price of $7.07. The company has a market cap of $1.01 billion, a PE ratio of -4.27 and a beta of 1.67.

ProFrac (NASDAQ:ACDC - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.38). ProFrac had a negative return on equity of 11.85% and a negative net margin of 10.72%. The business had revenue of $501.90 million for the quarter, compared to the consensus estimate of $532.93 million. Equities 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.