ProFrac Holding Corp. (NASDAQ:ACDC) Major Shareholder Acquires $42,890.64 in Stock

ProFrac Holding Corp. (NASDAQ:ACDC) major shareholder Holdings Lp Thrc purchased 6,136 shares of ProFrac stock in a transaction dated Friday, August 30th. The stock was bought at an average price of $6.99 per share, with a total value of $42,890.64. Following the completion of the purchase, the insider now directly owns 77,411,356 shares of the company’s stock, valued at $541,105,378.44. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Holdings Lp Thrc also recently made the following trade(s):

• On Tuesday, September 3rd, Holdings Lp Thrc bought 786,193 shares of ProFrac stock. The stock was bought at an average cost of $6.49 per share, with a total value of $5,102,392.57.
• On Tuesday, August 27th, Holdings Lp Thrc purchased 31,784 shares of ProFrac stock. The shares were purchased at an average cost of $6.69 per share, for a total transaction of $212,634.96.
• On Tuesday, August 20th, Holdings Lp Thrc acquired 46,999 shares of ProFrac stock. The stock was purchased at an average cost of $6.48 per share, with a total value of $304,553.52.
• On Thursday, August 15th, Holdings Lp Thrc bought 130,000 shares of ProFrac stock. The stock was purchased at an average cost of $6.49 per share, for a total transaction of $843,700.00.
• On Tuesday, August 13th, Holdings Lp Thrc acquired 411,383 shares of ProFrac stock. The stock was acquired at an average price of $6.03 per share, for a total transaction of $2,480,639.49.

ProFrac Price Performance

NASDAQ ACDC opened at $6.44 on Friday. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -6.92 and a beta of 0.81. ProFrac Holding Corp. has a 12 month low of $5.59 and a 12 month high of $11.94. The company’s 50 day moving average is $7.21 and its two-hundred day moving average is $7.85. The company has a current ratio of 1.01, a quick ratio of 0.64 and a debt-to-equity ratio of 0.85.

ProFrac (NASDAQ:ACDC) last announced its quarterly earnings data on Friday, August 9th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.12). The firm had revenue of $579.40 million for the quarter, compared to the consensus estimate of $624.64 million. ProFrac had a negative net margin of 8.58% and a negative return on equity of 2.30%. As a group, research analysts anticipate that ProFrac Holding Corp. will post 0.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ACDC shares. Stifel Nicolaus cut their target price on shares of ProFrac from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Bank of America cut their price objective on shares of ProFrac from $9.50 to $8.50 and set a “neutral” rating for the company in a research report on Monday, July 15th. Finally, Piper Sandler decreased their target price on ProFrac from $11.00 to $9.00 and set an “overweight” rating on the stock in a report on Monday, July 15th.

Hedge Funds Weigh In On ProFrac

Hedge funds have recently made changes to their positions in the business. First Financial Bankshares Inc bought a new stake in ProFrac during the 4th quarter valued at approximately $8,580,000. Marshall Wace LLP raised its position in shares of ProFrac by 1,632.1% during the second quarter. Marshall Wace LLP now owns 242,491 shares of the company’s stock valued at $1,797,000 after buying an additional 228,491 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of ProFrac by 72.0% in the second quarter. American Century Companies Inc. now owns 315,689 shares of the company’s stock worth $2,339,000 after buying an additional 132,108 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of ProFrac by 712.8% during the fourth quarter. Russell Investments Group Ltd. now owns 149,100 shares of the company’s stock worth $1,264,000 after acquiring an additional 130,757 shares during the last quarter. Finally, CastleKnight Management LP purchased a new position in ProFrac during the fourth quarter valued at $956,000. Institutional investors own 12.75% of the company’s stock.

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.