10,791 Shares in ProFrac Holding Corp. (NASDAQ:ACDC) Acquired by Stratos Investment Management LLC

Stratos Investment Management LLC purchased a new position in ProFrac Holding Corp. (NASDAQ:ACDC) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 10,791 shares of the company’s stock, valued at approximately $84,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC boosted its position in ProFrac by 114.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 831,320 shares of the company’s stock worth $5,645,000 after purchasing an additional 443,530 shares in the last quarter. Empowered Funds LLC purchased a new stake in ProFrac in the 3rd quarter worth approximately $3,764,000. Charles Schwab Investment Management Inc. boosted its position in ProFrac by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 175,777 shares of the company’s stock worth $1,194,000 after purchasing an additional 6,063 shares in the last quarter. Arete Wealth Advisors LLC boosted its position in ProFrac by 478.8% in the 3rd quarter. Arete Wealth Advisors LLC now owns 130,447 shares of the company’s stock worth $874,000 after purchasing an additional 107,908 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its position in ProFrac by 39.8% in the 3rd quarter. Pinnacle Associates Ltd. now owns 116,405 shares of the company’s stock worth $790,000 after purchasing an additional 33,139 shares in the last quarter. Institutional investors and hedge funds own 12.75% of the company’s stock.

ProFrac Trading Up 0.4 %

Shares of ACDC stock opened at $7.72 on Thursday. The stock’s fifty day moving average is $7.96 and its two-hundred day moving average is $7.23. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.62 and a current ratio of 0.95. The firm has a market capitalization of $1.24 billion, a P/E ratio of -5.48 and a beta of 1.19. ProFrac Holding Corp. has a fifty-two week low of $5.16 and a fifty-two week high of $9.75.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Morgan Stanley lowered ProFrac from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $7.00 to $6.50 in a research report on Thursday, October 17th. Stifel Nicolaus decreased their target price on ProFrac from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. Bank of America reiterated a “hold” rating and set a $7.50 target price on shares of ProFrac in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. lowered ProFrac from a “neutral” rating to an “underweight” rating and set a $7.00 target price on the stock. in a research report on Friday, December 6th. Two research 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, the company presently has a consensus rating of “Hold” and a consensus price target of $7.20.

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.