ProFrac Holding Corp. (NASDAQ:ACDC) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its position in shares of ProFrac Holding Corp. (NASDAQ:ACDC) by 52.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 426,898 shares of the company’s stock after buying an additional 146,028 shares during the period. Wells Fargo & Company MN owned approximately 0.27% of ProFrac worth $3,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC increased its stake in ProFrac by 213.6% during the third quarter. Barclays PLC now owns 29,215 shares of the company’s stock worth $199,000 after acquiring an additional 19,898 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of ProFrac by 110.7% during the 4th quarter. GAMMA Investing LLC now owns 5,749 shares of the company’s stock worth $45,000 after purchasing an additional 3,021 shares during the period. Fortitude Family Office LLC acquired a new stake in shares of ProFrac during the 4th quarter worth about $57,000. Hennessy Advisors Inc. raised its holdings in ProFrac by 50.0% in the 4th quarter. Hennessy Advisors Inc. now owns 30,000 shares of the company’s stock valued at $233,000 after buying an additional 10,000 shares during the period. Finally, SG Americas Securities LLC acquired a new position in ProFrac in the fourth quarter valued at about $115,000. Hedge funds and other institutional investors own 12.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus reduced their price target on shares of ProFrac from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $7.20.

ProFrac Stock Performance

Shares of ProFrac stock opened at $4.77 on Wednesday. The stock has a market capitalization of $764.05 million, a price-to-earnings ratio of -3.38 and a beta of 1.05. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.95 and a quick ratio of 0.62. The business has a 50-day moving average of $6.62 and a 200 day moving average of $7.18. ProFrac Holding Corp. has a 12 month low of $4.00 and a 12 month high of $9.75.

Insider Transactions at ProFrac

In other ProFrac news, major shareholder Farris Wilks bought 338,756 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were purchased at an average cost of $6.93 per share, with a total value of $2,347,579.08. Following the purchase, the insider now directly owns 1,316,534 shares in the company, valued at approximately $9,123,580.62. This represents a 34.65 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.93% of the company’s stock.

ProFrac Company Profile

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.