ProFrac (NASDAQ:ACDC) CEO Matthew Wilks Purchases 22,481 Shares of Stock

Key Points

• CEO Matthew Wilks purchased 22,481 ProFrac shares at an average price of $5.44, investing approximately $122,297 and increasing his ownership by 4.69% to 502,097 shares. He also bought 57,519 shares the previous day.
• ProFrac shares traded at $5.14, with a market capitalization of roughly $930 million; the stock has ranged from $3.08 to $8.22 over the past year.
• Institutional ownership stands at 12.75%, while analyst sentiment remains cautious: ProFrac has an average “Reduce” rating and a consensus price target of $5.50.

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) CEO Matthew Wilks bought 22,481 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The shares were acquired at an average cost of $5.44 per share, with a total value of $122,296.64. Following the completion of the purchase, the chief executive officer owned 502,097 shares of the company's stock, valued at approximately $2,731,407.68. The trade was a 4.69% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

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

• On Monday, August 10th, Matthew Wilks purchased 57,519 shares of ProFrac stock. The stock was acquired at an average price of $4.86 per share, for a total transaction of $279,542.34.

ProFrac Price Performance

ProFrac stock traded down $0.13 during mid-day trading on Wednesday, hitting $5.14. The company's stock had a trading volume of 1,327,232 shares, compared to its average volume of 1,445,876. The stock has a market capitalization of $929.93 million, a P/E ratio of -2.21 and a beta of 1.46. ProFrac Holding Corp. has a twelve month low of $3.08 and a twelve month high of $8.22. The stock's fifty day moving average price is $5.42 and its two-hundred day moving average price is $5.90. The company has a quick ratio of 0.59, a current ratio of 0.84 and a debt-to-equity ratio of 1.42.

Hedge Funds Weigh In On ProFrac

Several institutional investors and hedge funds have recently bought and sold shares of ACDC. Walleye Capital LLC increased its stake in shares of ProFrac by 328.6% in the first quarter. Walleye Capital LLC now owns 347,911 shares of the company's stock worth $2,157,000 after acquiring an additional 266,742 shares during the last quarter. Renaissance Technologies LLC acquired a new position in ProFrac during the first quarter worth $872,000. Sei Investments Co. raised its holdings in ProFrac by 91.6% during the first quarter. Sei Investments Co. now owns 99,986 shares of the company's stock valued at $620,000 after buying an additional 47,800 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of ProFrac by 156.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 390,420 shares of the company's stock valued at $2,421,000 after acquiring an additional 238,210 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in ProFrac by 17.0% in the 1st quarter. Bank of New York Mellon Corp now owns 79,914 shares of the company's stock worth $495,000 after purchasing an additional 11,597 shares during the last quarter. Hedge funds and other institutional investors own 12.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ACDC. Wall Street Zen downgraded ProFrac from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Piper Sandler upped their price objective on shares of ProFrac from $5.00 to $6.00 and gave the company a "neutral" rating in a research note on Monday, May 18th. Weiss Ratings reiterated a "sell (d-)" rating on shares of ProFrac in a report on Wednesday, June 24th. Finally, Morgan Stanley set a $5.00 price target on shares of ProFrac in a report on Wednesday, July 15th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Reduce" and an average target price of $5.50.

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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