Catalina Capital Group LLC Takes Position in ProFrac Holding Corp. (NASDAQ:ACDC)

Catalina Capital Group LLC bought a new position in shares of ProFrac Holding Corp. (NASDAQ:ACDC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,174 shares of the company’s stock, valued at approximately $79,000.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of ProFrac by 110.7% in the 4th quarter. GAMMA Investing LLC now owns 5,749 shares of the company’s stock worth $45,000 after purchasing an additional 3,021 shares in the last quarter. Fortitude Family Office LLC acquired a new position in ProFrac in the fourth quarter worth approximately $57,000. Townsquare Capital LLC bought a new position in shares of ProFrac in the third quarter valued at $87,000. Quantinno Capital Management LP acquired a new stake in shares of ProFrac during the 3rd quarter valued at $100,000. Finally, SG Americas Securities LLC purchased a new stake in shares of ProFrac during the fourth quarter valued at $115,000. 12.75% of the stock is currently owned by institutional investors and hedge funds.

ProFrac Stock Up 5.3 %

ACDC stock opened at $7.69 on Wednesday. The company has a 50 day moving average of $7.99 and a two-hundred day moving average of $7.23. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -5.45 and a beta of 1.19. ProFrac Holding Corp. has a 12-month low of $5.16 and a 12-month high of $9.75. The company has a quick ratio of 0.62, a current ratio of 0.95 and a debt-to-equity ratio of 0.86.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Morgan Stanley cut shares of ProFrac from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $7.00 to $6.50 in a report on Thursday, October 17th. JPMorgan Chase & Co. lowered shares of ProFrac from a “neutral” rating to an “underweight” rating and set a $7.00 price objective for the company. in a research note on Friday, December 6th. Bank of America reissued a “hold” rating and set a $7.50 target price on shares of ProFrac in a research note on Monday, October 14th. Finally, Stifel Nicolaus decreased their target price on ProFrac from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, ProFrac 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.