3,785 Shares in ProFrac Holding Corp. $ACDC Bought by Farther Finance Advisors LLC

Farther Finance Advisors LLC acquired a new position in shares of ProFrac Holding Corp. (NASDAQ:ACDC) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,785 shares of the company’s stock, valued at approximately $29,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Exchange Traded Concepts LLC grew its holdings in ProFrac by 1,258.8% during the first quarter. Exchange Traded Concepts LLC now owns 10,164 shares of the company’s stock worth $77,000 after acquiring an additional 9,416 shares during the period. Walleye Capital LLC acquired a new position in ProFrac during the first quarter worth $97,000. Deutsche Bank AG grew its holdings in ProFrac by 64.7% during the first quarter. Deutsche Bank AG now owns 14,680 shares of the company’s stock worth $111,000 after acquiring an additional 5,767 shares during the period. Jaffetilchin Investment Partners LLC acquired a new position in ProFrac during the first quarter worth $152,000. Finally, Inscription Capital LLC acquired a new position in ProFrac during the first quarter worth $206,000. Institutional investors and hedge funds own 12.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ACDC. Wall Street Zen lowered ProFrac from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Piper Sandler decreased their target price on ProFrac from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 20th. Bank of America downgraded ProFrac from a “neutral” rating to an “underperform” rating and set a $6.50 target price on the stock. in a research report on Wednesday, June 25th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ProFrac in a research report on Saturday, September 27th. Two investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Strong Sell” and a consensus price target of $6.10.

Insider Buying and Selling at ProFrac

In related news, major shareholder Holdings Lp Thrc acquired 2,500,000 shares of ProFrac stock in a transaction dated Thursday, August 14th. The shares were acquired at an average cost of $4.00 per share, for a total transaction of $10,000,000.00. Following the completion of the transaction, the insider directly owned 82,389,657 shares of the company’s stock, valued at $329,558,628. The trade was a 3.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Matthew Wilks acquired 43,297 shares of ProFrac stock in a transaction dated Monday, September 8th. The stock was bought at an average price of $3.80 per share, for a total transaction of $164,528.60. Following the completion of the transaction, the chairman directly owned 422,097 shares of the company’s stock, valued at approximately $1,603,968.60. This represents a 11.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.84% of the stock is owned by corporate insiders.

ProFrac Stock Down 2.8%

Shares of NASDAQ:ACDC opened at $4.10 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.91 and a debt-to-equity ratio of 1.00. ProFrac Holding Corp. has a 52-week low of $3.43 and a 52-week high of $10.70. The stock’s fifty day simple moving average is $4.39 and its 200-day simple moving average is $6.02. The company has a market capitalization of $734.02 million, a P/E ratio of -2.36 and a beta of 1.61.

ProFrac (NASDAQ:ACDC) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.38). ProFrac had a negative net margin of 12.89% and a negative return on equity of 22.78%. The company had revenue of $501.90 million during the quarter, compared to analysts’ expectations of $532.93 million. As a group, equities research analysts forecast that ProFrac Holding Corp. will post -0.5 earnings per share for the current fiscal year.

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.