ProFrac (NASDAQ:ACDC) CEO Acquires $122,296.64 in Stock

ProFrac Holding Corp. (NASDAQ:ACDC) CEO Matthew Wilks purchased 22,481 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were purchased at an average price of $5.44 per share, with a total value of $122,296.64. Following the completion of the purchase, the chief executive officer directly owned 502,097 shares of the company’s stock, valued at $2,731,407.68. The trade was a 4.69% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Matthew Wilks also recently made the following trade(s):

• On Monday, August 10th, Matthew Wilks acquired 57,519 shares of ProFrac stock. The stock was purchased at an average price of $4.86 per share, for a total transaction of $279,542.34.

ProFrac Stock Performance

NASDAQ ACDC opened at $5.37 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.59. ProFrac Holding Corp. has a 1-year low of $3.08 and a 1-year high of $8.22. The firm has a market capitalization of $977.98 million, a P/E ratio of -2.30 and a beta of 1.46. The business’s 50-day simple moving average is $5.29 and its 200-day simple moving average is $5.90.

Analyst Upgrades and Downgrades

ACDC has been the topic of a number of recent research reports. Wall Street Zen raised shares of ProFrac from a “sell” rating to a “hold” rating in a research report on Saturday. Piper Sandler upped their price target on shares of ProFrac from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Monday, May 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProFrac in a report on Wednesday, June 24th. Finally, Morgan Stanley set a $5.00 price objective on ProFrac in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, ProFrac presently has an average rating of “Reduce” and an average price target of $5.50.

Institutional Trading of ProFrac

Several large investors have recently bought and sold shares of ACDC. Walleye Capital LLC boosted its stake in shares of ProFrac by 3.6% in the fourth quarter. Walleye Capital LLC now owns 81,169 shares of the company’s stock valued at $316,000 after purchasing an additional 2,785 shares during the period. Vanguard Group Inc. lifted its holdings in ProFrac by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 427,063 shares of the company’s stock worth $1,580,000 after buying an additional 3,003 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in ProFrac by 3.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 96,957 shares of the company’s stock worth $359,000 after buying an additional 3,318 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in ProFrac by 7,241.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock valued at $27,000 after buying an additional 3,476 shares during the last quarter. Finally, Intech Investment Management LLC boosted its position in ProFrac by 27.2% in the 3rd quarter. Intech Investment Management LLC now owns 16,434 shares of the company’s stock valued at $61,000 after buying an additional 3,514 shares during the last quarter. Institutional investors and hedge funds 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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.