Squarepoint Ops LLC Sells 4,874 Shares of ProFrac Holding Corp. (NASDAQ:ACDC)

Squarepoint Ops LLC decreased its holdings in ProFrac Holding Corp. (NASDAQ:ACDC) by 29.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,826 shares of the company’s stock after selling 4,874 shares during the period. Squarepoint Ops LLC’s holdings in ProFrac were worth $92,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AlphaQuest LLC acquired a new position in ProFrac in the 4th quarter valued at $66,000. HighTower Advisors LLC acquired a new stake in shares of ProFrac during the 4th quarter worth $85,000. Private Advisor Group LLC acquired a new stake in shares of ProFrac during the 4th quarter worth $112,000. SG Americas Securities LLC acquired a new stake in shares of ProFrac during the 4th quarter worth $115,000. Finally, Quantinno Capital Management LP grew its holdings in shares of ProFrac by 11.3% during the 4th quarter. Quantinno Capital Management LP now owns 16,387 shares of the company’s stock worth $127,000 after purchasing an additional 1,670 shares in the last quarter. Institutional investors and hedge funds own 12.75% of the company’s stock.

Insider Buying and Selling at ProFrac

In other ProFrac news, Chairman Matthew Wilks purchased 20,221 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The stock was bought at an average price of $4.32 per share, with a total value of $87,354.72. Following the completion of the purchase, the chairman now directly owns 308,977 shares of the company’s stock, valued at $1,334,780.64. The trade was a 7.00% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Holdings Lp Thrc acquired 207,163 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was purchased at an average price of $6.25 per share, with a total value of $1,294,768.75. Following the acquisition, the insider now owns 79,855,858 shares of the company’s stock, valued at $499,099,112.50. This represents a 0.26% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 733,996 shares of company stock worth $4,356,960 over the last ninety days. Insiders own 2.84% of the company’s stock.

Analyst Upgrades and Downgrades

ACDC has been the topic of several research analyst reports. Stifel Nicolaus reduced their price objective on ProFrac from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley reduced their price objective on ProFrac from $7.00 to $5.00 and set an “underweight” rating on the stock in a research note on Friday, May 16th. Finally, Wall Street Zen raised ProFrac from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $6.90.

ProFrac Trading Down 1.6%

Shares of ACDC opened at $8.73 on Tuesday. ProFrac Holding Corp. has a fifty-two week low of $3.83 and a fifty-two week high of $9.49. The business has a 50-day moving average of $5.71 and a 200 day moving average of $7.05. The firm has a market cap of $1.40 billion, a P/E ratio of -6.19 and a beta of 1.75. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.62 and a current ratio of 0.95.

ProFrac (NASDAQ:ACDC) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.20. ProFrac had a negative return on equity of 3.54% and a negative net margin of 9.51%. As a group, research analysts forecast that ProFrac Holding Corp. will post -0.5 EPS for the current year.

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.