ProFrac (NASDAQ:ACDC) Given New $6.00 Price Target at Stifel Nicolaus

ProFrac (NASDAQ:ACDC - Get Free Report) had its price objective reduced by stock analysts at Stifel Nicolaus from $7.00 to $6.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "hold" rating on the stock. Stifel Nicolaus' price target would suggest a potential upside of 22.45% from the company's current price.

ProFrac Stock Performance

ACDC stock traded up $0.38 during trading on Tuesday, reaching $4.90. The company had a trading volume of 915,700 shares, compared to its average volume of 725,677. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.62 and a current ratio of 0.95. ProFrac has a twelve month low of $4.00 and a twelve month high of $9.75. The company has a market cap of $784.87 million, a price-to-earnings ratio of -3.48 and a beta of 1.05. The firm has a 50-day simple moving average of $6.73 and a 200-day simple moving average of $7.22.

Insider Activity at ProFrac

In other news, major shareholder Farris Wilks bought 338,756 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The shares were purchased at an average price of $6.93 per share, for a total transaction of $2,347,579.08. Following the completion of the transaction, the insider now directly owns 1,316,534 shares in the company, valued at approximately $9,123,580.62. This represents a 34.65 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.93% of the stock is owned by insiders.

Institutional Trading of ProFrac

Several institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC lifted its position in ProFrac by 213.6% during the third quarter. Barclays PLC now owns 29,215 shares of the company's stock valued at $199,000 after purchasing an additional 19,898 shares during the period. SG Americas Securities LLC purchased a new position in shares of ProFrac during the 4th quarter valued at about $115,000. American Century Companies Inc. lifted its holdings in shares of ProFrac by 12.8% in the 4th quarter. American Century Companies Inc. now owns 528,912 shares of the company's stock valued at $4,104,000 after buying an additional 59,908 shares during the period. Private Advisor Group LLC acquired a new stake in ProFrac during the fourth quarter worth about $112,000. Finally, Bank of New York Mellon Corp raised its position in ProFrac by 1,822.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,785,781 shares of the company's stock valued at $13,858,000 after acquiring an additional 1,692,908 shares in the last quarter. 12.75% of the stock is currently owned by institutional investors and hedge funds.

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.