Holdings Lp Thrc Purchases 390,253 Shares of ProFrac Holding Corp. (NASDAQ:ACDC) Stock

ProFrac Holding Corp. (NASDAQ:ACDC) major shareholder Holdings Lp Thrc bought 390,253 shares of the business’s stock in a transaction on Thursday, May 15th. The stock was purchased at an average cost of $6.10 per share, with a total value of $2,380,543.30. Following the purchase, the insider now owns 79,648,695 shares of the company’s stock, valued at $485,857,039.50. This represents a 0.49% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock 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 bought 207,163 shares of ProFrac stock. The stock was purchased at an average cost of $6.25 per share, with a total value of $1,294,768.75.
• On Wednesday, May 14th, Holdings Lp Thrc bought 23,584 shares of ProFrac stock. The stock was purchased at an average cost of $6.12 per share, with a total value of $144,334.08.
• On Monday, May 12th, Holdings Lp Thrc bought 23,599 shares of ProFrac stock. The stock was purchased at an average cost of $4.85 per share, with a total value of $114,455.15.

ProFrac Stock Performance

Shares of ACDC stock opened at $6.13 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.62 and a current ratio of 0.95. ProFrac Holding Corp. has a fifty-two week low of $3.83 and a fifty-two week high of $9.75. The stock has a 50 day moving average price of $5.77 and a two-hundred day moving average price of $6.98. The company has a market capitalization of $981.89 million, a P/E ratio of -4.35 and a beta of 1.14.

ProFrac (NASDAQ:ACDC) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.11) earnings per share for the quarter, beating 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%. Analysts expect that ProFrac Holding Corp. will post -0.5 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on ACDC. Morgan Stanley cut their target price on ProFrac from $7.00 to $5.00 and set an “underweight” rating for the company in a research note on Friday. Stifel Nicolaus cut their target price on ProFrac from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.90.

Institutional Trading of ProFrac

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. AlphaQuest LLC bought a new position in shares of ProFrac during the fourth quarter valued at approximately $66,000. Exchange Traded Concepts LLC raised its holdings in shares of ProFrac by 1,258.8% during the first quarter. Exchange Traded Concepts LLC now owns 10,164 shares of the company’s stock valued at $77,000 after acquiring an additional 9,416 shares in the last quarter. Catalina Capital Group LLC bought a new position in shares of ProFrac during the fourth quarter valued at approximately $79,000. Stratos Investment Management LLC bought a new position in shares of ProFrac during the fourth quarter valued at approximately $84,000. Finally, HighTower Advisors LLC bought a new position in shares of ProFrac during the fourth quarter valued at approximately $85,000. Institutional investors 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.