ProFrac Holding Corp. (NASDAQ:ACDC) Major Shareholder Holdings Lp Thrc Acquires 23,584 Shares

ProFrac Holding Corp. (NASDAQ:ACDC) major shareholder Holdings Lp Thrc purchased 23,584 shares of ProFrac stock in a transaction on Wednesday, May 14th. The shares were acquired at an average cost of $6.12 per share, with a total value of $144,334.08. Following the completion of the transaction, the insider now directly owns 79,258,442 shares in the company, valued at $485,061,665.04. The trade was a 0.03% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more of a company’s shares 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 purchased 207,163 shares of ProFrac stock. The shares were acquired at an average cost of $6.25 per share, with a total value of $1,294,768.75.
• On Thursday, May 15th, Holdings Lp Thrc purchased 390,253 shares of ProFrac stock. The shares were acquired at an average cost of $6.10 per share, with a total value of $2,380,543.30.
• On Monday, May 12th, Holdings Lp Thrc purchased 23,599 shares of ProFrac stock. The shares were acquired at an average cost of $4.85 per share, with a total value of $114,455.15.

ProFrac Price Performance

NASDAQ:ACDC opened at $6.13 on Monday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.95 and a quick ratio of 0.62. The firm has a market cap of $981.89 million, a price-to-earnings ratio of -4.35 and a beta of 1.14. The company has a 50 day moving average price of $5.77 and a 200-day moving average price of $6.99. ProFrac Holding Corp. has a 1-year low of $3.83 and a 1-year high of $9.75.

ProFrac (NASDAQ:ACDC) last posted its earnings results 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 net margin of 9.51% and a negative return on equity of 3.54%. Equities research analysts forecast that ProFrac Holding Corp. will post -0.5 EPS for the current year.

Institutional Investors Weigh In On ProFrac

Institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC grew its stake in ProFrac by 213.6% in the 3rd quarter. Barclays PLC now owns 29,215 shares of the company’s stock valued at $199,000 after acquiring an additional 19,898 shares during the period. SG Americas Securities LLC acquired a new stake in ProFrac in the 4th quarter valued at $115,000. Wells Fargo & Company MN grew its stake in ProFrac by 52.0% in the 4th quarter. Wells Fargo & Company MN now owns 426,898 shares of the company’s stock valued at $3,313,000 after acquiring an additional 146,028 shares during the period. American Century Companies Inc. grew its stake in ProFrac by 12.8% in the 4th quarter. American Century Companies Inc. now owns 528,912 shares of the company’s stock valued at $4,104,000 after acquiring an additional 59,908 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in ProFrac by 1,822.8% in 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 acquiring an additional 1,692,908 shares during the period. Institutional investors and hedge funds own 12.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Stifel Nicolaus reduced their price target on shares of ProFrac from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Tuesday, April 15th. Morgan Stanley cut 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. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $6.90.

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.