ProFrac (NASDAQ:ACDC) Shares Up 4.5% – Should You Buy?

ProFrac Holding Corp. (NASDAQ:ACDC) shares shot up 4.5% during trading on Tuesday . The company traded as high as $8.16 and last traded at $8.12. 195,576 shares changed hands during trading, a decline of 58% from the average session volume of 468,702 shares. The stock had previously closed at $7.77.

Analyst Upgrades and Downgrades

ACDC has been the topic of several analyst reports. Stifel Nicolaus upped their price objective on ProFrac from $6.00 to $7.00 and gave the company a “hold” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. downgraded shares of ProFrac from a “neutral” rating to an “underweight” rating and set a $7.00 target price on the stock. in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, ProFrac has an average rating of “Hold” and a consensus target price of $7.40.

ProFrac Stock Performance

The stock has a 50 day moving average price of $7.62 and a two-hundred day moving average price of $7.33. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -5.82 and a beta of 1.18. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.95 and a quick ratio of 0.62.

Insiders Place Their Bets

In other news, major shareholder Farris Wilks purchased 338,756 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were acquired at an average price of $6.93 per share, with a total value of $2,347,579.08. Following the completion of the purchase, the insider now directly owns 1,316,534 shares of the company’s stock, valued at $9,123,580.62. The trade was a 34.65 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.93% of the company’s stock.

Institutional Trading of ProFrac

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACDC. GAMMA Investing LLC raised its stake in shares of ProFrac by 110.7% during the fourth quarter. GAMMA Investing LLC now owns 5,749 shares of the company’s stock worth $45,000 after buying an additional 3,021 shares during the last quarter. Fortitude Family Office LLC bought a new stake in shares of ProFrac during the 4th quarter valued at $57,000. AlphaQuest LLC acquired a new position in shares of ProFrac in the 4th quarter valued at $66,000. Catalina Capital Group LLC acquired a new stake in shares of ProFrac during the fourth quarter worth $79,000. Finally, Stratos Investment Management LLC bought a new stake in ProFrac in the fourth quarter valued at about $84,000. 12.75% of the stock is owned by institutional investors.

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.