ProFrac Holding Corp. (NASDAQ:ACDC) Chairman Matthew Wilks Buys 69,176 Shares

ProFrac Holding Corp. (NASDAQ:ACDC) Chairman Matthew Wilks bought 69,176 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was bought at an average cost of $4.85 per share, with a total value of $335,503.60. Following the completion of the acquisition, the chairman now owns 378,153 shares in the company, valued at $1,834,042.05. This represents a 22.39% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Friday, May 9th, Matthew Wilks bought 20,221 shares of ProFrac stock. The stock was bought at an average cost of $4.32 per share, with a total value of $87,354.72.

ProFrac Stock Up 15.2%

NASDAQ ACDC opened at $5.69 on Wednesday. The firm has a market cap of $911.41 million, a PE ratio of -4.04 and a beta of 1.14. ProFrac Holding Corp. has a one year low of $3.83 and a one year high of $9.75. The stock’s 50 day simple moving average is $5.84 and its 200 day simple moving average is $6.98. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.95 and a quick ratio of 0.62.

ProFrac (NASDAQ:ACDC) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.20. ProFrac had a negative return on equity of 3.54% and a negative net margin of 9.51%. As a group, sell-side analysts forecast that ProFrac Holding Corp. will post -0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus dropped their target price on ProFrac from $7.00 to $6.00 and set a “hold” rating for the company in a report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, ProFrac has an average rating of “Hold” and an average price target of $7.20.

Institutional Investors Weigh In On ProFrac

A number of large investors have recently bought and sold shares of ACDC. GAMMA Investing LLC boosted its position in ProFrac by 110.7% in the 4th quarter. GAMMA Investing LLC now owns 5,749 shares of the company’s stock valued at $45,000 after buying an additional 3,021 shares during the last quarter. AlphaQuest LLC bought a new position in ProFrac in the 4th quarter valued at $66,000. Exchange Traded Concepts LLC boosted its position in ProFrac by 1,258.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 10,164 shares of the company’s stock valued at $77,000 after buying an additional 9,416 shares during the last quarter. Catalina Capital Group LLC bought a new position in ProFrac in the 4th quarter valued at $79,000. Finally, Stratos Investment Management LLC bought a new position in ProFrac in the 4th quarter valued at $84,000. 12.75% of the stock is currently owned by institutional investors.

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.