Stratos Investment Management LLC Makes New Investment in ProFrac Holding Corp. (NASDAQ:ACDC)

Stratos Investment Management LLC bought a new position in ProFrac Holding Corp. (NASDAQ:ACDC) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 10,791 shares of the company’s stock, valued at approximately $84,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC increased its stake in shares of ProFrac by 213.6% in the 3rd quarter. Barclays PLC now owns 29,215 shares of the company’s stock worth $199,000 after acquiring an additional 19,898 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in shares of 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 acquiring an additional 443,530 shares during the last quarter. Arete Wealth Advisors LLC increased its stake in shares of 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 acquiring an additional 107,908 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of ProFrac in the 3rd quarter worth $3,764,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of ProFrac in the 2nd quarter worth $150,000. 12.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ACDC. JPMorgan Chase & Co. downgraded ProFrac from a “neutral” rating to an “underweight” rating and set a $7.00 price objective for the company. in a research report on Friday, December 6th. Bank of America reissued a “hold” rating and set a $7.50 price objective on shares of ProFrac in a research report on Monday, October 14th. Stifel Nicolaus cut their price objective on ProFrac from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Monday, January 6th. Finally, Morgan Stanley downgraded ProFrac from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $7.00 to $6.50 in a research report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.20.

ProFrac Stock Performance

NASDAQ ACDC opened at $7.72 on Thursday. The company has a market cap of $1.24 billion, a P/E ratio of -5.48 and a beta of 1.19. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.95 and a quick ratio of 0.62. The stock has a 50-day moving average of $7.96 and a two-hundred day moving average of $7.23. ProFrac Holding Corp. has a 1-year low of $5.16 and a 1-year high of $9.75.

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.