ProFrac (NASDAQ:ACDC) Trading Down 2.4% - Here's What Happened

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) shares were down 2.4% on Monday . The stock traded as low as $4.63 and last traded at $4.65. Approximately 111,033 shares changed hands during trading, a decline of 85% from the average daily volume of 719,885 shares. The stock had previously closed at $4.77.

Analyst Ratings Changes

Separately, Stifel Nicolaus decreased their target price on shares of ProFrac from $7.00 to $6.00 and set a "hold" rating for the company in a research report on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $7.20.

ProFrac Stock Performance

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

Insider Buying and Selling at ProFrac

In other ProFrac news, major shareholder Farris Wilks purchased 338,756 shares of the stock in a transaction dated Wednesday, February 26th. The shares were bought at an average cost of $6.93 per share, with a total value of $2,347,579.08. Following the completion of 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.93% of the company's stock.

Institutional Trading of ProFrac

Several hedge funds have recently added to or reduced their stakes in ACDC. Quantinno Capital Management LP increased its position in ProFrac by 11.3% in the 4th quarter. Quantinno Capital Management LP now owns 16,387 shares of the company's stock worth $127,000 after buying an additional 1,670 shares during the period. Dimensional Fund Advisors LP increased its position in ProFrac by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 90,939 shares of the company's stock worth $706,000 after acquiring an additional 1,860 shares during the period. Geode Capital Management LLC raised its stake in ProFrac by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 591,501 shares of the company's stock valued at $4,591,000 after purchasing an additional 2,893 shares during the last quarter. GAMMA Investing LLC boosted its holdings in ProFrac by 110.7% in the 4th 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 during the period. Finally, Barclays PLC grew its position in ProFrac by 14.4% in the 4th quarter. Barclays PLC now owns 33,409 shares of the company's stock worth $259,000 after purchasing an additional 4,194 shares during the last quarter. Institutional investors own 12.75% 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.