O Shaughnessy Asset Management LLC Purchases New Stake in ProFrac Holding Corp. (NASDAQ:ACDC)

O Shaughnessy Asset Management LLC acquired a new position in shares of ProFrac Holding Corp. (NASDAQ:ACDC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 28,792 shares of the company’s stock, valued at approximately $223,000.

Several other large investors also recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its position in 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 purchasing an additional 1,692,908 shares during the period. American Century Companies Inc. boosted its position in shares of ProFrac by 12.8% in the fourth quarter. American Century Companies Inc. now owns 528,912 shares of the company’s stock worth $4,104,000 after buying an additional 59,908 shares during the period. Bleakley Financial Group LLC acquired a new stake in shares of ProFrac in the fourth quarter valued at about $455,000. Empowered Funds LLC raised its holdings in shares of ProFrac by 5.1% during the 4th quarter. Empowered Funds LLC now owns 582,767 shares of the company’s stock valued at $4,522,000 after buying an additional 28,370 shares during the period. Finally, Barclays PLC lifted its position in ProFrac by 213.6% during the 3rd quarter. Barclays PLC now owns 29,215 shares of the company’s stock worth $199,000 after acquiring an additional 19,898 shares in the last quarter. Institutional investors and hedge funds own 12.75% of the company’s stock.

ProFrac Trading Up 2.8 %

Shares of ACDC opened at $4.74 on Monday. ProFrac Holding Corp. has a one year low of $4.00 and a one year high of $9.75. The stock has a 50-day moving average price of $7.03 and a 200 day moving average price of $7.30. 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 market capitalization of $759.24 million, a P/E ratio of -3.36 and a beta of 1.05.

Analysts Set New Price Targets

Separately, Stifel Nicolaus lifted their price objective on shares of ProFrac from $6.00 to $7.00 and gave the company a “hold” rating in a research note on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, ProFrac currently has a consensus rating of “Hold” and an average price target of $7.40.

Insider Buying and Selling at ProFrac

In related news, major shareholder Farris Wilks bought 338,756 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were acquired at an average price of $6.93 per share, for a total transaction of $2,347,579.08. Following the purchase, the insider now owns 1,316,534 shares in the company, valued at $9,123,580.62. This trade represents a 34.65 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.93% of the stock is currently owned by insiders.

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.