ProFrac (NASDAQ:ACDC) Trading Down 6.6% - Time to Sell?

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) fell 6.6% on Monday . The company traded as low as $4.64 and last traded at $4.58. 51,264 shares were traded during mid-day trading, a decline of 93% from the average session volume of 723,061 shares. The stock had previously closed at $4.90.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus decreased their price target on shares of ProFrac from $7.00 to $6.00 and set a "hold" rating for the company in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $7.20.

ProFrac Price Performance

The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.62 and a current ratio of 0.95. The company has a 50-day simple moving average of $6.42 and a 200-day simple moving average of $7.12. The company has a market cap of $764.05 million, a price-to-earnings ratio of -3.38 and a beta of 1.05.

Insider Buying and Selling at ProFrac

In other ProFrac news, major shareholder Farris Wilks acquired 338,756 shares of the company's stock in a transaction dated Wednesday, February 26th. The stock was acquired at an average cost of $6.93 per share, with a total value of $2,347,579.08. Following the purchase, the insider now directly owns 1,316,534 shares in the company, valued at approximately $9,123,580.62. This trade represents a 34.65 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 2.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ProFrac

Several hedge funds have recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of ProFrac by 110.7% during the 4th quarter. GAMMA Investing LLC now owns 5,749 shares of the company's stock worth $45,000 after acquiring an additional 3,021 shares during the period. Fortitude Family Office LLC acquired a new position in shares of ProFrac in the fourth quarter worth about $57,000. AlphaQuest LLC purchased a new position in shares of ProFrac during the 4th quarter valued at approximately $66,000. Exchange Traded Concepts LLC grew its holdings in ProFrac by 1,258.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 10,164 shares of the company's stock worth $77,000 after acquiring an additional 9,416 shares in the last quarter. Finally, Catalina Capital Group LLC bought a new stake in ProFrac in the fourth quarter valued at about $79,000. 12.75% of the stock is owned by institutional investors and hedge funds.

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.