ProFrac Holding Corp. (NASDAQ:ACDC) Major Shareholder Acquires $42,890.64 in Stock

ProFrac Holding Corp. (NASDAQ:ACDC) major shareholder Holdings Lp Thrc purchased 6,136 shares of the stock in a transaction on Friday, August 30th. The shares were acquired at an average cost of $6.99 per share, with a total value of $42,890.64. Following the transaction, the insider now directly owns 77,411,356 shares in the company, valued at $541,105,378.44. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Holdings Lp Thrc also recently made the following trade(s):

• On Tuesday, September 3rd, Holdings Lp Thrc bought 786,193 shares of ProFrac stock. The shares were acquired at an average cost of $6.49 per share, for a total transaction of $5,102,392.57.
• On Tuesday, August 27th, Holdings Lp Thrc purchased 31,784 shares of ProFrac stock. The stock was bought at an average price of $6.69 per share, for a total transaction of $212,634.96.
• On Tuesday, August 20th, Holdings Lp Thrc acquired 46,999 shares of ProFrac stock. The stock was bought at an average price of $6.48 per share, with a total value of $304,553.52.
• On Thursday, August 15th, Holdings Lp Thrc purchased 130,000 shares of ProFrac stock. The shares were bought at an average price of $6.49 per share, for a total transaction of $843,700.00.
• On Tuesday, August 13th, Holdings Lp Thrc acquired 411,383 shares of ProFrac stock. The stock was bought at an average price of $6.03 per share, with a total value of $2,480,639.49.

ProFrac Stock Performance

Shares of ACDC opened at $6.44 on Friday. ProFrac Holding Corp. has a 52 week low of $5.59 and a 52 week high of $11.94. The company has a quick ratio of 0.64, a current ratio of 1.01 and a debt-to-equity ratio of 0.85. The stock has a market cap of $1.03 billion, a P/E ratio of -6.92 and a beta of 0.81. The business’s 50 day moving average price is $7.21 and its 200-day moving average price is $7.85.

ProFrac (NASDAQ:ACDC) last released its earnings results on Friday, August 9th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.12). ProFrac had a negative return on equity of 2.30% and a negative net margin of 8.58%. The company had revenue of $579.40 million during the quarter, compared to the consensus estimate of $624.64 million. Equities research analysts anticipate that ProFrac Holding Corp. will post 0.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

ACDC has been the subject of a number of research analyst reports. Stifel Nicolaus lowered their target price on ProFrac from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Piper Sandler lowered their price objective on ProFrac from $11.00 to $9.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Finally, Bank of America reduced their target price on shares of ProFrac from $9.50 to $8.50 and set a “neutral” rating on the stock in a research report on Monday, July 15th.

Hedge Funds Weigh In On ProFrac

A number of hedge funds have recently bought and sold shares of the company. nVerses Capital LLC bought a new stake in ProFrac during the 2nd quarter valued at about $44,000. Delta Investment Management LLC raised its holdings in ProFrac by 47.8% in the 1st quarter. Delta Investment Management LLC now owns 15,469 shares of the company’s stock worth $129,000 after acquiring an additional 5,000 shares during the last quarter. Squarepoint Ops LLC purchased a new position in ProFrac in the 2nd quarter worth approximately $150,000. Jump Financial LLC bought a new position in ProFrac in the 4th quarter valued at approximately $179,000. Finally, Aristides Capital LLC purchased a new stake in ProFrac during the 4th quarter valued at $279,000. Institutional investors own 12.75% of the company’s stock.

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.