Pinnacle Associates Ltd. Has $987,000 Holdings in ProFrac Holding Corp. (NASDAQ:ACDC)

Pinnacle Associates Ltd. increased its stake in shares of ProFrac Holding Corp. (NASDAQ:ACDCFree Report) by 34.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,405 shares of the company’s stock after buying an additional 30,085 shares during the quarter. Pinnacle Associates Ltd. owned 0.07% of ProFrac worth $987,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Encompass Capital Advisors LLC bought a new position in shares of ProFrac during the second quarter valued at $33,167,000. BlackRock Inc. lifted its holdings in ProFrac by 6.2% during the 2nd quarter. BlackRock Inc. now owns 1,860,796 shares of the company’s stock valued at $20,766,000 after purchasing an additional 109,123 shares during the last quarter. State Street Corp boosted its position in ProFrac by 36.5% in the first quarter. State Street Corp now owns 872,363 shares of the company’s stock valued at $11,053,000 after buying an additional 233,075 shares in the last quarter. FMR LLC bought a new stake in ProFrac during the first quarter worth about $9,858,000. Finally, Wellington Management Group LLP acquired a new stake in shares of ProFrac during the first quarter worth approximately $9,100,000. Institutional investors and hedge funds own 12.75% of the company’s stock.

ProFrac Stock Up 0.9 %

NASDAQ:ACDC opened at $8.60 on Wednesday. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -16.23 and a beta of 0.71. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.98. The stock’s fifty day moving average price is $7.77 and its two-hundred day moving average price is $8.42. ProFrac Holding Corp. has a 52-week low of $6.46 and a 52-week high of $14.32.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus reduced their target price on ProFrac from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, March 14th.

Get Our Latest Analysis on ProFrac

About ProFrac

(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.

See Also

Institutional Ownership by Quarter for ProFrac (NASDAQ:ACDC)

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