ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) rose 6.2% during mid-day trading on Thursday . The stock traded as high as $7.69 and last traded at $7.68. Approximately 398,031 shares were traded during trading, a decline of 43% from the average daily volume of 698,720 shares. The stock had previously closed at $7.23.
Analyst Ratings Changes
A number of equities analysts have weighed in on ACDC shares. Stifel Nicolaus dropped their price target 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. Morgan Stanley dropped their target price on shares of ProFrac from $7.00 to $5.00 and set an "underweight" rating on the stock in a report on Friday, May 16th. Finally, Wall Street Zen upgraded shares of ProFrac from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $6.90.
View Our Latest Analysis on ACDC
ProFrac Price Performance
The company has a 50 day moving average price of $5.66 and a 200 day moving average price of $6.99. The firm has a market cap of $1.28 billion, a PE ratio of -5.67 and a beta of 1.14. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.95 and a quick ratio of 0.62.
ProFrac (NASDAQ:ACDC - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.20. ProFrac had a negative return on equity of 3.54% and a negative net margin of 9.51%. Sell-side analysts expect that ProFrac Holding Corp. will post -0.5 EPS for the current fiscal year.
Insider Transactions at ProFrac
In related news, Chairman Matthew Wilks purchased 69,176 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average price of $4.85 per share, with a total value of $335,503.60. Following the purchase, the chairman now directly owns 378,153 shares in the company, valued at $1,834,042.05. This represents a 22.39% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Holdings Lp Thrc acquired 207,163 shares of the business's stock in a transaction on Friday, May 16th. The stock was acquired at an average price of $6.25 per share, with a total value of $1,294,768.75. Following the transaction, the insider now owns 79,855,858 shares in the company, valued at approximately $499,099,112.50. The trade was a 0.26% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 733,996 shares of company stock valued at $4,356,960. 2.84% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in shares of ProFrac by 1,822.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,785,781 shares of the company's stock worth $13,858,000 after acquiring an additional 1,692,908 shares during the period. Bridgeway Capital Management LLC boosted its stake in ProFrac by 10.6% during the first quarter. Bridgeway Capital Management LLC now owns 1,167,180 shares of the company's stock worth $8,859,000 after acquiring an additional 111,913 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of ProFrac by 2.0% in the first quarter. Empowered Funds LLC now owns 594,680 shares of the company's stock valued at $4,514,000 after buying an additional 11,913 shares in the last quarter. Geode Capital Management LLC increased its holdings in ProFrac by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 591,501 shares of the company's stock worth $4,591,000 after buying an additional 2,893 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of ProFrac by 10.4% in the first quarter. American Century Companies Inc. now owns 583,820 shares of the company's stock worth $4,431,000 after purchasing an additional 54,908 shares in the last quarter. 12.75% of the stock is owned by institutional investors and hedge funds.
About ProFrac
(
Get Free Report)
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.
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