Mariner LLC Has $1.14 Million Holdings in ProFrac Holding Corp. (NASDAQ:ACDC)

Mariner LLC boosted its holdings 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 SEC. The firm owned 146,429 shares of the company's stock after acquiring an additional 94,902 shares during the period. Mariner LLC owned 0.09% of ProFrac worth $1,136,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Barclays PLC boosted its position in ProFrac by 213.6% during the 3rd quarter. Barclays PLC now owns 29,215 shares of the company's stock worth $199,000 after acquiring an additional 19,898 shares during the last quarter. GAMMA Investing LLC grew its position in ProFrac by 110.7% in the fourth 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 in the last quarter. Fortitude Family Office LLC bought a new stake in ProFrac during the 4th quarter worth about $57,000. Hennessy Advisors Inc. boosted its stake in shares of ProFrac by 50.0% during the 4th quarter. Hennessy Advisors Inc. now owns 30,000 shares of the company's stock worth $233,000 after buying an additional 10,000 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of ProFrac in the fourth quarter valued at about $115,000. Institutional investors own 12.75% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus dropped their price objective on ProFrac from $7.00 to $6.00 and set a "hold" rating on the stock in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $7.20.

ProFrac Price Performance

Shares of ProFrac stock traded down $0.44 on Wednesday, reaching $4.15. 1,002,674 shares of the stock were exchanged, compared to its average volume of 723,616. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.62 and a current ratio of 0.95. The firm has a market cap of $664.74 million, a PE ratio of -2.94 and a beta of 1.05. The firm's 50 day moving average is $6.30 and its 200-day moving average is $7.09. ProFrac Holding Corp. has a one year low of $4.00 and a one year high of $9.75.

Insiders Place Their Bets

In other ProFrac news, major shareholder Farris Wilks acquired 338,756 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was acquired at an average cost of $6.93 per share, for a total transaction of $2,347,579.08. Following the transaction, the insider now directly owns 1,316,534 shares in the company, valued at $9,123,580.62. This represents a 34.65 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.93% of the company's stock.

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.