ProFrac (NASDAQ:ACDC) Stock Price Down 4.7%

ProFrac Holding Corp. (NASDAQ:ACDCGet Free Report) shares were down 4.7% during mid-day trading on Friday . The stock traded as low as $7.30 and last traded at $7.30. Approximately 128,145 shares changed hands during trading, a decline of 86% from the average daily volume of 927,052 shares. The stock had previously closed at $7.66.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ACDC shares. Bank of America upped their target price on shares of ProFrac from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Monday, April 15th. Stifel Nicolaus lowered their price objective on shares of ProFrac from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, March 14th.

Check Out Our Latest Stock Report on ACDC

ProFrac Trading Down 4.2 %

The company’s 50 day moving average price is $8.17 and its two-hundred day moving average price is $8.00. The company has a quick ratio of 0.71, a current ratio of 1.07 and a debt-to-equity ratio of 0.72.

ProFrac (NASDAQ:ACDCGet Free Report) last issued its quarterly earnings data on Friday, May 10th. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. The firm had revenue of $581.50 million for the quarter, compared to analysts’ expectations of $587.60 million. ProFrac had a negative net margin of 5.35% and a negative return on equity of 1.00%. As a group, analysts expect that ProFrac Holding Corp. will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Holdings Lp Thrc bought 440,217 shares of ProFrac stock in a transaction that occurred on Tuesday, May 28th. The stock was bought at an average cost of $9.49 per share, with a total value of $4,177,659.33. Following the acquisition, the insider now owns 75,640,762 shares of the company’s stock, valued at approximately $717,830,831.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Farris Wilks acquired 330,000 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was acquired at an average cost of $22.08 per share, with a total value of $7,286,400.00. Following the acquisition, the insider now directly owns 58,541,444 shares in the company, valued at approximately $1,292,595,083.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Holdings Lp Thrc acquired 440,217 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were bought at an average cost of $9.49 per share, with a total value of $4,177,659.33. Following the completion of the acquisition, the insider now owns 75,640,762 shares in the company, valued at $717,830,831.38. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 964,678 shares of company stock valued at $13,268,657. 2.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ProFrac

A number of institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its holdings in ProFrac by 42.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,827 shares of the company’s stock valued at $58,000 after buying an additional 2,034 shares in the last quarter. Delta Investment Management LLC grew its holdings in ProFrac by 47.8% during the 1st quarter. Delta Investment Management LLC now owns 15,469 shares of the company’s stock valued at $129,000 after buying an additional 5,000 shares in the last quarter. Jump Financial LLC purchased a new position in shares of ProFrac in the fourth quarter valued at $179,000. Pinnacle Associates Ltd. grew its holdings in shares of ProFrac by 34.9% in the fourth quarter. Pinnacle Associates Ltd. now owns 116,405 shares of the company’s stock valued at $987,000 after purchasing an additional 30,085 shares in the last quarter. Finally, Aristides Capital LLC purchased a new position in shares of ProFrac in the fourth quarter valued at $279,000. 12.75% of the stock is owned by hedge funds and other institutional investors.

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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