ProFrac Holding Corp. (NASDAQ:ACDC) Chairman Purchases $87,354.72 in Stock

ProFrac Holding Corp. (NASDAQ:ACDC) Chairman Matthew Wilks bought 20,221 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The shares were purchased at an average cost of $4.32 per share, for a total transaction of $87,354.72. Following the acquisition, the chairman now directly owns 308,977 shares in the company, valued at $1,334,780.64. This trade represents a 7.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Monday, May 12th, Matthew Wilks bought 69,176 shares of ProFrac stock. The shares were purchased at an average cost of $4.85 per share, for a total transaction of $335,503.60.

ProFrac Price Performance

Shares of NASDAQ:ACDC opened at $6.28 on Friday. The company’s fifty day moving average price is $5.80 and its 200-day moving average price is $6.97. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -4.45 and a beta of 1.14. ProFrac Holding Corp. has a one year low of $3.83 and a one year high of $9.75. 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) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.20. ProFrac had a negative net margin of 9.51% and a negative return on equity of 3.54%. On average, equities research analysts anticipate that ProFrac Holding Corp. will post -0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ProFrac

A number of institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in shares of ProFrac by 1,822.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,785,781 shares of the company’s stock valued at $13,858,000 after purchasing an additional 1,692,908 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of ProFrac by 2.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,055,267 shares of the company’s stock valued at $8,189,000 after purchasing an additional 28,370 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of ProFrac by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 591,501 shares of the company’s stock valued at $4,591,000 after purchasing an additional 2,893 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of ProFrac by 10.4% during the 1st quarter. American Century Companies Inc. now owns 583,820 shares of the company’s stock valued at $4,431,000 after purchasing an additional 54,908 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of ProFrac by 5.1% during the 4th quarter. Empowered Funds LLC now owns 582,767 shares of the company’s stock valued at $4,522,000 after purchasing an additional 28,370 shares during the last quarter. Institutional investors own 12.75% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.