Matthew Wilks Purchases 43,297 Shares of ProFrac (NASDAQ:ACDC) Stock

ProFrac Holding Corp. (NASDAQ:ACDC) Chairman Matthew Wilks bought 43,297 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was bought at an average cost of $3.80 per share, with a total value of $164,528.60. Following the completion of the transaction, the chairman owned 422,097 shares in the company, valued at approximately $1,603,968.60. This trade represents a 11.43% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

ProFrac Trading Up 0.5%

NASDAQ:ACDC opened at $3.90 on Friday. The company has a 50-day moving average price of $5.84 and a 200-day moving average price of $6.44. ProFrac Holding Corp. has a 12 month low of $3.43 and a 12 month high of $10.70. The company has a current ratio of 0.91, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The stock has a market cap of $625.09 million, a price-to-earnings ratio of -2.24 and a beta of 1.64.

ProFrac (NASDAQ:ACDC) last posted its earnings results on Thursday, August 7th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.38). ProFrac had a negative return on equity of 22.78% and a negative net margin of 12.89%.The company had revenue of $501.90 million during the quarter, compared to analysts’ expectations of $532.93 million. Equities analysts predict that ProFrac Holding Corp. will post -0.5 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its stake in shares of ProFrac by 7,241.7% in the second quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock worth $27,000 after acquiring an additional 3,476 shares during the period. Farther Finance Advisors LLC bought a new stake in shares of ProFrac in the second quarter worth approximately $29,000. Raymond James Financial Inc. bought a new stake in shares of ProFrac in the second quarter worth approximately $29,000. BNP Paribas Financial Markets grew its stake in shares of ProFrac by 389.4% in the second quarter. BNP Paribas Financial Markets now owns 6,122 shares of the company’s stock worth $48,000 after acquiring an additional 4,871 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake in shares of ProFrac by 1,258.8% in the first quarter. Exchange Traded Concepts LLC now owns 10,164 shares of the company’s stock worth $77,000 after acquiring an additional 9,416 shares during the period. 12.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ACDC has been the subject of several research analyst reports. Wall Street Zen cut shares of ProFrac from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Bank of America cut ProFrac from a “neutral” rating to an “underperform” rating and set a $6.50 target price on the stock. in a research note on Wednesday, June 25th. Morgan Stanley decreased their target price on shares of ProFrac from $7.00 to $5.00 and set an “underweight” rating for the company in a report on Friday, May 16th. Finally, Piper Sandler decreased their target price on shares of ProFrac from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, August 20th. Two equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ProFrac currently has a consensus rating of “Strong Sell” and an average target price of $6.10.

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.