ProFrac (NASDAQ:ACDC) Major Shareholder Dan Wilks Buys 202,331 Shares of Stock

ProFrac Holding Corp. (NASDAQ:ACDC) major shareholder Dan Wilks acquired 202,331 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was purchased at an average price of $5.44 per share, for a total transaction of $1,100,680.64. Following the completion of the acquisition, the insider owned 87,500,195 shares in the company, valued at $476,001,060.80. The trade was a 0.23% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

ProFrac Price Performance

NASDAQ:ACDC traded down $0.13 during trading hours on Wednesday, hitting $5.14. 1,327,232 shares of the stock were exchanged, compared to its average volume of 1,905,267. The firm’s fifty day moving average price is $5.38 and its 200 day moving average price is $5.90. ProFrac Holding Corp. has a 52-week low of $3.08 and a 52-week high of $8.22. The company has a market cap of $929.93 million, a P/E ratio of -2.21 and a beta of 1.46. The company has a current ratio of 0.84, a quick ratio of 0.59 and a debt-to-equity ratio of 1.42.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wall Street Zen cut shares of ProFrac from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of ProFrac in a research note on Wednesday, June 24th. Piper Sandler boosted their target price on ProFrac from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Monday, May 18th. Finally, Morgan Stanley set a $5.00 price target on ProFrac in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, ProFrac currently has a consensus rating of “Reduce” and an average price target of $5.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ACDC. UBS Group AG increased its position in ProFrac by 1,862.8% during the third quarter. UBS Group AG now owns 705,568 shares of the company’s stock worth $2,611,000 after purchasing an additional 669,621 shares during the last quarter. AQR Capital Management LLC boosted its holdings in ProFrac by 61.7% in the 4th quarter. AQR Capital Management LLC now owns 1,638,822 shares of the company’s stock valued at $6,375,000 after purchasing an additional 625,596 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of ProFrac by 27.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,484,760 shares of the company’s stock valued at $5,494,000 after buying an additional 322,860 shares during the period. HRT Financial LP grew its stake in shares of ProFrac by 409.5% in the 4th quarter. HRT Financial LP now owns 382,837 shares of the company’s stock valued at $1,489,000 after buying an additional 307,696 shares during the period. Finally, Walleye Capital LLC increased its holdings in shares of ProFrac by 328.6% during the 1st quarter. Walleye Capital LLC now owns 347,911 shares of the company’s stock worth $2,157,000 after buying an additional 266,742 shares during the last quarter. Institutional investors and hedge funds 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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.