ProFrac Holding Corp. (NASDAQ:ACDC) Major Shareholder Acquires $144,334.08 in Stock

ProFrac Holding Corp. (NASDAQ:ACDC) major shareholder Holdings Lp Thrc purchased 23,584 shares of the business’s stock in a transaction dated Wednesday, May 14th. The shares were purchased at an average price of $6.12 per share, for a total transaction of $144,334.08. Following the purchase, the insider now owns 79,258,442 shares of the company’s stock, valued at approximately $485,061,665.04. This trade represents a 0.03% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more 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 Friday, May 16th, Holdings Lp Thrc purchased 207,163 shares of ProFrac stock. The shares were purchased at an average price of $6.25 per share, for a total transaction of $1,294,768.75.
• On Thursday, May 15th, Holdings Lp Thrc purchased 390,253 shares of ProFrac stock. The shares were purchased at an average price of $6.10 per share, for a total transaction of $2,380,543.30.
• On Monday, May 12th, Holdings Lp Thrc acquired 23,599 shares of ProFrac stock. The shares were bought at an average cost of $4.85 per share, for a total transaction of $114,455.15.

ProFrac Price Performance

Shares of ACDC stock opened at $6.13 on Monday. ProFrac Holding Corp. has a 1-year low of $3.83 and a 1-year high of $9.75. The stock’s 50-day moving average is $5.77 and its 200 day moving average is $6.99. The company has a market cap of $981.89 million, a P/E ratio of -4.35 and a beta of 1.14. 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 issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.20. ProFrac had a negative return on equity of 3.54% and a negative net margin of 9.51%. Research analysts predict that ProFrac Holding Corp. will post -0.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ACDC has been the topic of a number of recent research reports. Stifel Nicolaus dropped their price objective on ProFrac from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Tuesday, April 15th. Morgan Stanley dropped their price objective on ProFrac from $7.00 to $5.00 and set an “underweight” rating on the stock in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $6.90.

Institutional Investors Weigh In On ProFrac

Several institutional investors have recently added to or reduced their stakes in the business. Quantinno Capital Management LP boosted its holdings in ProFrac by 11.3% in the fourth quarter. Quantinno Capital Management LP now owns 16,387 shares of the company’s stock worth $127,000 after acquiring an additional 1,670 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in ProFrac by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 90,939 shares of the company’s stock worth $706,000 after acquiring an additional 1,860 shares in the last quarter. Geode Capital Management LLC boosted its holdings in ProFrac by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 591,501 shares of the company’s stock worth $4,591,000 after acquiring an additional 2,893 shares in the last quarter. Barclays PLC boosted its holdings in ProFrac by 14.4% in the fourth quarter. Barclays PLC now owns 33,409 shares of the company’s stock worth $259,000 after acquiring an additional 4,194 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in ProFrac by 64.7% in the first quarter. Deutsche Bank AG now owns 14,680 shares of the company’s stock worth $111,000 after acquiring an additional 5,767 shares in the last quarter. 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.