Insider Buying: ProFrac (NASDAQ:ACDC) CEO Purchases $279,542.34 in Stock

ProFrac Holding Corp. (NASDAQ:ACDC) CEO Matthew Wilks purchased 57,519 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were acquired at an average price of $4.86 per share, for a total transaction of $279,542.34. Following the acquisition, the chief executive officer owned 479,616 shares of the company’s stock, valued at $2,330,933.76. This trade represents a 13.63% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Tuesday, August 11th, Matthew Wilks acquired 22,481 shares of ProFrac stock. The stock was acquired at an average cost of $5.44 per share, for a total transaction of $122,296.64.

ProFrac Stock Performance

NASDAQ ACDC opened at $5.37 on Friday. The company has a market capitalization of $977.98 million, a price-to-earnings ratio of -2.30 and a beta of 1.46. The company has a quick ratio of 0.59, a current ratio of 0.84 and a debt-to-equity ratio of 1.42. ProFrac Holding Corp. has a twelve month low of $3.08 and a twelve month high of $8.22. The stock has a fifty day simple moving average of $5.29 and a 200 day simple moving average of $5.90.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On ProFrac

Large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its holdings in ProFrac by 61.7% in the fourth quarter. AQR Capital Management LLC now owns 1,638,822 shares of the company’s stock worth $6,375,000 after purchasing an additional 625,596 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of ProFrac by 27.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,484,760 shares of the company’s stock worth $5,494,000 after buying an additional 322,860 shares in the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of ProFrac by 2.8% during the 2nd quarter. Bridgeway Capital Management LLC now owns 1,199,562 shares of the company’s stock worth $9,309,000 after buying an additional 32,382 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of ProFrac by 12.1% during the 4th quarter. Wells Fargo & Company MN now owns 1,088,687 shares of the company’s stock worth $4,235,000 after buying an additional 117,608 shares during the period. Finally, Empowered Funds LLC grew its position in shares of ProFrac by 9.6% during the 4th quarter. Empowered Funds LLC now owns 776,893 shares of the company’s stock worth $3,022,000 after buying an additional 67,939 shares during the period. 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.