ProFrac Holding Corp. (NASDAQ:ACDC) Chairman Buys $335,503.60 in Stock

ProFrac Holding Corp. (NASDAQ:ACDC) Chairman Matthew Wilks acquired 69,176 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was purchased at an average price of $4.85 per share, for a total transaction of $335,503.60. Following the completion of the transaction, the chairman now directly owns 378,153 shares in the company, valued at approximately $1,834,042.05. The trade was a 22.39% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

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

ProFrac Stock Performance

ACDC stock opened at $5.69 on Wednesday. The business’s fifty day moving average is $5.84 and its 200-day moving average is $6.98. The company has a quick ratio of 0.62, a current ratio of 0.95 and a debt-to-equity ratio of 0.86. The company has a market cap of $911.41 million, a P/E ratio of -4.04 and a beta of 1.14. ProFrac Holding Corp. has a twelve month low of $3.83 and a twelve month high of $9.75.

ProFrac (NASDAQ:ACDC) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.11) earnings per share for the quarter, beating 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%. Equities research analysts forecast that ProFrac Holding Corp. will post -0.5 EPS for the current year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACDC. Bank of New York Mellon Corp lifted its holdings in ProFrac by 1,822.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,785,781 shares of the company’s stock worth $13,858,000 after acquiring an additional 1,692,908 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in ProFrac by 52.0% during the fourth quarter. Wells Fargo & Company MN now owns 426,898 shares of the company’s stock worth $3,313,000 after acquiring an additional 146,028 shares in the last quarter. Mariner LLC lifted its holdings in ProFrac by 184.2% during the fourth quarter. Mariner LLC now owns 146,429 shares of the company’s stock worth $1,136,000 after acquiring an additional 94,902 shares in the last quarter. GSA Capital Partners LLP bought a new position in ProFrac during the first quarter worth about $548,000. Finally, BNP Paribas Financial Markets bought a new position in ProFrac during the fourth quarter worth about $469,000. 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.