ProFrac (NASDAQ:ACDC) CEO Acquires $279,542.34 in Stock

Key Points

• ProFrac CEO Matthew Wilks bought 57,519 shares at an average price of $4.86, a $279,542 purchase that increased his stake by 13.63% to 479,616 shares. He also recently acquired an additional 22,481 shares for $122,297.
• ProFrac shares fell 2.5% to $5.14, with the company valued at approximately $930 million. The stock trades below both its 50-day and 200-day moving averages and has a negative price-to-earnings ratio.
• Analyst sentiment remains cautious, with a consensus “Reduce” rating and a $5.50 target price; institutional investors own 12.75% of the company after several major funds increased their positions.

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) CEO Matthew Wilks purchased 57,519 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was acquired at an average cost of $4.86 per share, with a total value of $279,542.34. Following the acquisition, the chief executive officer owned 479,616 shares in the company, valued at $2,330,933.76. The trade was a 13.63% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Matthew Wilks also recently made the following trade(s):

• On Tuesday, August 11th, Matthew Wilks acquired 22,481 shares of ProFrac stock. The shares were bought at an average cost of $5.44 per share, for a total transaction of $122,296.64.

ProFrac Trading Down 2.5%

ACDC stock traded down $0.13 during midday trading on Wednesday, reaching $5.14. 1,327,232 shares of the company traded hands, compared to its average volume of 1,445,876. The firm has a market capitalization of $929.93 million, a price-to-earnings ratio of -2.21 and a beta of 1.46. ProFrac Holding Corp. has a 52-week low of $3.08 and a 52-week high of $8.22. The business has a 50 day moving average of $5.42 and a 200-day moving average of $5.90. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.59 and a current ratio of 0.84.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of ProFrac in a research report on Wednesday, June 24th. Wall Street Zen lowered ProFrac from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Piper Sandler upped their target price on ProFrac from $5.00 to $6.00 and gave the company a "neutral" rating in a research note on Monday, May 18th. Finally, Morgan Stanley set a $5.00 price target on ProFrac in a report on Wednesday, July 15th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $5.50.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ACDC. UBS Group AG increased its stake in shares of ProFrac by 1,862.8% during the third quarter. UBS Group AG now owns 705,568 shares of the company's stock valued at $2,611,000 after buying an additional 669,621 shares during the period. AQR Capital Management LLC lifted its stake in ProFrac by 61.7% in the fourth quarter. AQR Capital Management LLC now owns 1,638,822 shares of the company's stock worth $6,375,000 after acquiring an additional 625,596 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in ProFrac by 27.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,484,760 shares of the company's stock worth $5,494,000 after acquiring an additional 322,860 shares in the last quarter. HRT Financial LP grew its holdings in ProFrac by 409.5% during the 4th quarter. HRT Financial LP now owns 382,837 shares of the company's stock worth $1,489,000 after acquiring an additional 307,696 shares in the last quarter. Finally, Walleye Capital LLC increased its position in ProFrac by 328.6% during the 1st quarter. Walleye Capital LLC now owns 347,911 shares of the company's stock valued at $2,157,000 after purchasing an additional 266,742 shares during the period. Hedge funds and other institutional investors own 12.75% of the company's stock.

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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.

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