ProFrac (NASDAQ:ACDC) Shares Gap Down – Should You Sell?

ProFrac Holding Corp. (NASDAQ:ACDC) gapped down before the market opened on Wednesday . The stock had previously closed at $4.31, but opened at $4.05. ProFrac shares last traded at $4.29, with a volume of 142,540 shares traded.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus boosted their price target on ProFrac from $6.00 to $7.00 and gave the company a “hold” rating in a report on Monday, March 10th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $7.40.

ProFrac Trading Up 0.5 %

The company has a quick ratio of 0.62, a current ratio of 0.95 and a debt-to-equity ratio of 0.86. The business’s fifty day moving average is $7.23 and its 200-day moving average is $7.34. The stock has a market capitalization of $693.57 million, a PE ratio of -3.07 and a beta of 1.05.

Insider Activity at ProFrac

In other ProFrac news, major shareholder Farris Wilks bought 338,756 shares of ProFrac stock in a transaction that occurred on Wednesday, February 26th. The shares were acquired at an average price of $6.93 per share, for a total transaction of $2,347,579.08. Following the acquisition, the insider now 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 2.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ACDC. Charles Schwab Investment Management Inc. lifted its position in ProFrac by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 175,777 shares of the company’s stock worth $1,194,000 after acquiring an additional 6,063 shares in the last quarter. Verition Fund Management LLC lifted its position in shares of ProFrac by 94.0% during the third quarter. Verition Fund Management LLC now owns 83,354 shares of the company’s stock worth $566,000 after purchasing an additional 40,390 shares in the last quarter. Quantinno Capital Management LP purchased a new position in shares of ProFrac in the third quarter valued at $100,000. Barclays PLC grew its holdings in ProFrac by 213.6% during the 3rd quarter. Barclays PLC now owns 29,215 shares of the company’s stock valued at $199,000 after purchasing an additional 19,898 shares in the last quarter. Finally, Arete Wealth Advisors LLC increased its stake in ProFrac by 478.8% during the 3rd quarter. Arete Wealth Advisors LLC now owns 130,447 shares of the company’s stock worth $874,000 after buying an additional 107,908 shares during the period. 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.