Key Points
- Major shareholder Dan Wilks bought 517,669 ProFrac shares at an average price of $4.86, investing about $2.52 million and increasing his direct ownership by 0.60% to 87.3 million shares.
- ProFrac shares were trading down 2.5% at $5.14, below both their 50-day and 200-day moving averages. The company has a market capitalization of approximately $930 million and a debt-to-equity ratio of 1.42.
- Analysts remain cautious, with a consensus “Reduce” rating and an average price target of $5.50; ratings include one Buy, two Holds, and two Sells. Institutional investors own 12.75% of the company.
ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) CEO Matthew Wilks acquired 22,481 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The stock was purchased at an average cost of $5.44 per share, with a total value of $122,296.64. Following the acquisition, the chief executive officer owned 502,097 shares in the company, valued at $2,731,407.68. The trade was a 4.69% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Matthew Wilks also recently made the following trade(s):
- On Monday, August 10th, Matthew Wilks acquired 57,519 shares of ProFrac stock. The shares were acquired at an average cost of $4.86 per share, for a total transaction of $279,542.34.
ProFrac Price Performance
Shares of NASDAQ:ACDC opened at $5.14 on Thursday. The firm has a market capitalization of $929.93 million, a PE ratio of -2.21 and a beta of 1.46. The company has a quick ratio of 0.59, a current ratio of 0.84 and a debt-to-equity ratio of 1.42. The company has a 50-day moving average price of $5.38 and a two-hundred day moving average price of $5.90. ProFrac Holding Corp. has a twelve month low of $3.08 and a twelve month high of $8.22.
Analyst Ratings Changes
A number of research analysts recently weighed in on ACDC shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of ProFrac in a research note on Wednesday, June 24th. Piper Sandler raised their price target on ProFrac from $5.00 to $6.00 and gave the stock a "neutral" rating in a report on Monday, May 18th. Morgan Stanley set a $5.00 price target on ProFrac in a research report on Wednesday, July 15th. Finally, Wall Street Zen cut ProFrac from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $5.50.
Check Out Our Latest Stock Analysis on ProFrac
Institutional Trading of ProFrac
Hedge funds and other institutional investors have recently bought and sold shares of the company. UBS Group AG lifted its stake in ProFrac by 1,862.8% in the 3rd quarter. UBS Group AG now owns 705,568 shares of the company's stock worth $2,611,000 after purchasing an additional 669,621 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of ProFrac by 61.7% in the fourth quarter. AQR Capital Management LLC now owns 1,638,822 shares of the company's stock worth $6,375,000 after purchasing an additional 625,596 shares during the period. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of ProFrac by 27.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,484,760 shares of the company's stock worth $5,494,000 after purchasing an additional 322,860 shares during the period. HRT Financial LP raised its position in shares of ProFrac by 409.5% in the fourth quarter. HRT Financial LP now owns 382,837 shares of the company's stock worth $1,489,000 after buying an additional 307,696 shares in the last quarter. Finally, Walleye Capital LLC boosted its stake in ProFrac by 328.6% during the first quarter. Walleye Capital LLC now owns 347,911 shares of the company's stock valued at $2,157,000 after buying an additional 266,742 shares during the period. Institutional investors own 12.75% of the company's stock.
About ProFrac
(
Get Free Report)
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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.
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