Counterpoint Mutual Funds LLC Invests $501,000 in ProFrac Holding Corp. $ACDC

Counterpoint Mutual Funds LLC purchased a new position in shares of ProFrac Holding Corp. (NASDAQ:ACDC) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 135,409 shares of the company’s stock, valued at approximately $501,000. Counterpoint Mutual Funds LLC owned about 0.07% of ProFrac at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its stake in ProFrac by 7,241.7% in the second quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock worth $27,000 after purchasing an additional 3,476 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of ProFrac in the second quarter valued at about $29,000. BNP Paribas Financial Markets lifted its position in ProFrac by 389.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,122 shares of the company’s stock worth $48,000 after buying an additional 4,871 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in ProFrac by 822.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,234 shares of the company’s stock worth $87,000 after buying an additional 10,016 shares in the last quarter. Finally, AXQ Capital LP bought a new stake in ProFrac during the 3rd quarter worth about $48,000. Institutional investors own 12.75% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on ACDC. Morgan Stanley restated an “underweight” rating and issued a $4.00 price objective on shares of ProFrac in a research report on Wednesday, January 21st. Zacks Research raised shares of ProFrac from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ProFrac in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $5.38.

ProFrac Stock Performance

ProFrac stock opened at $5.14 on Wednesday. ProFrac Holding Corp. has a 1 year low of $3.08 and a 1 year high of $10.70. The company’s 50-day moving average is $4.67 and its two-hundred day moving average is $4.27. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 0.96. The company has a market cap of $929.67 million, a PE ratio of -2.51 and a beta of 1.69.

ProFrac 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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.