Mariner LLC Buys 94,902 Shares of ProFrac Holding Corp. (NASDAQ:ACDC)

Mariner LLC boosted its stake in shares of ProFrac Holding Corp. (NASDAQ:ACDC - Free Report) by 184.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 146,429 shares of the company's stock after purchasing an additional 94,902 shares during the quarter. Mariner LLC owned approximately 0.09% of ProFrac worth $1,136,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of ProFrac by 110.7% in the 4th quarter. GAMMA Investing LLC now owns 5,749 shares of the company's stock valued at $45,000 after purchasing an additional 3,021 shares during the period. Fortitude Family Office LLC bought a new stake in ProFrac in the fourth quarter worth approximately $57,000. AlphaQuest LLC bought a new position in ProFrac during the fourth quarter valued at about $66,000. Catalina Capital Group LLC acquired a new position in ProFrac during the fourth quarter valued at approximately $79,000. Finally, Stratos Investment Management LLC bought a new position in shares of ProFrac in the fourth quarter worth about $84,000. Institutional investors own 12.75% of the company's stock.

Insider Activity at ProFrac

In related news, major shareholder Farris Wilks acquired 338,756 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was acquired at an average cost of $6.93 per share, with a total value of $2,347,579.08. Following the completion of the purchase, the insider now directly owns 1,316,534 shares in the company, valued at approximately $9,123,580.62. This trade represents a 34.65 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.93% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus lowered their price objective on ProFrac from $7.00 to $6.00 and set a "hold" rating on the stock in a research report on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $7.20.

ProFrac Price Performance

NASDAQ ACDC traded up $0.10 during trading hours on Friday, reaching $4.69. 124,459 shares of the company's stock were exchanged, compared to its average volume of 716,273. The firm has a fifty day moving average of $6.17 and a 200-day moving average of $7.05. The company has a current ratio of 0.95, a quick ratio of 0.62 and a debt-to-equity ratio of 0.86. ProFrac Holding Corp. has a one year low of $4.00 and a one year high of $9.75. The stock has a market cap of $750.43 million, a PE ratio of -3.32 and a beta of 1.05.

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.