Russell Investments Group Ltd. Invests $238,000 in ProFrac Holding Corp. (NASDAQ:ACDC)

Russell Investments Group Ltd. purchased a new position in shares of ProFrac Holding Corp. (NASDAQ:ACDC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,764 shares of the company’s stock, valued at approximately $238,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ACDC. JPMorgan Chase & Co. cut shares of ProFrac from an “overweight” rating to a “neutral” rating and set a $15.00 price target on the stock. in a research report on Thursday, May 11th. Stifel Nicolaus cut their price objective on shares of ProFrac from $22.00 to $18.00 in a research report on Wednesday, July 12th.

Insider Buying and Selling at ProFrac

In other ProFrac news, major shareholder Holdings Lp Thrc purchased 98,911 shares of the stock in a transaction on Tuesday, June 13th. The shares were purchased at an average cost of $13.41 per share, for a total transaction of $1,326,396.51. Following the purchase, the insider now owns 71,450,423 shares of the company’s stock, valued at $958,150,172.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.60% of the company’s stock.

ProFrac Trading Up 0.7 %

ACDC opened at $11.08 on Tuesday. The stock has a market capitalization of $1.76 billion, a P/E ratio of 4.84 and a beta of 0.94. ProFrac Holding Corp. has a 12 month low of $9.01 and a 12 month high of $27.00. The firm’s fifty day simple moving average is $11.76 and its 200 day simple moving average is $12.96. The company has a current ratio of 0.99, a quick ratio of 0.63 and a debt-to-equity ratio of 0.80.

ProFrac (NASDAQ:ACDC) last issued its quarterly earnings results on Thursday, August 10th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.09). ProFrac had a net margin of 3.44% and a negative return on equity of 202.01%. The business had revenue of $709.20 million during the quarter, compared to analyst estimates of $749.97 million. As a group, research analysts anticipate that ProFrac Holding Corp. will post 1.13 EPS for the current fiscal year.

ProFrac Profile

ProFrac Holding Corp., an integrated energy services company, provides stimulation services, proppants production, and other complementary products and services to oil and gas companies in the United States. It operates through three segments: Stimulation Services, Manufacturing, and Proppant Production.