ProFrac (NASDAQ:ACDC) Trading Up 4.2% - What's Next?

Shares of ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) were up 4.2% during trading on Tuesday . The company traded as high as $4.63 and last traded at $4.74. Approximately 84,150 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 720,067 shares. The stock had previously closed at $4.55.

Wall Street Analysts Forecast Growth

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 research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $7.20.

ProFrac Price Performance

The company has a 50-day moving average of $6.13 and a 200 day moving average of $7.04. The firm has a market cap of $783.27 million, a P/E ratio of -3.47 and a beta of 1.05. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.62 and a current ratio of 0.95.

Insider Activity

In other ProFrac news, major shareholder Farris Wilks acquired 338,756 shares of the business's stock in a transaction on Wednesday, February 26th. The stock was purchased at an average price of $6.93 per share, for a total transaction of $2,347,579.08. Following the transaction, the insider now owns 1,316,534 shares in the company, valued at $9,123,580.62. This trade represents a 34.65 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in shares of ProFrac by 110.7% during the fourth quarter. GAMMA Investing LLC now owns 5,749 shares of the company's stock worth $45,000 after purchasing an additional 3,021 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in shares of ProFrac in the 4th quarter valued at $57,000. AlphaQuest LLC bought a new stake in shares of ProFrac during the fourth quarter worth $66,000. Exchange Traded Concepts LLC lifted its stake in shares of ProFrac by 1,258.8% during the first quarter. Exchange Traded Concepts LLC now owns 10,164 shares of the company's stock valued at $77,000 after acquiring an additional 9,416 shares during the period. Finally, Catalina Capital Group LLC bought a new position in ProFrac in the fourth quarter valued at about $79,000. Institutional investors and hedge funds 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.