ProFrac Holding Corp. (NASDAQ:ACDC – Get Free Report) major shareholder Dan Wilks purchased 202,331 shares of ProFrac stock in a transaction on Tuesday, August 11th. The shares were acquired at an average price of $5.44 per share, with a total value of $1,100,680.64. Following the transaction, the insider directly owned 87,500,195 shares in the company, valued at $476,001,060.80. This trade represents a 0.23% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
ProFrac Trading Up 2.1%
NASDAQ:ACDC opened at $5.37 on Friday. ProFrac Holding Corp. has a 1 year low of $3.08 and a 1 year high of $8.22. The stock has a market cap of $977.98 million, a price-to-earnings ratio of -2.30 and a beta of 1.46. The business has a fifty day moving average of $5.29 and a 200-day moving average of $5.90. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.59 and a current ratio of 0.84.
Analyst Ratings Changes
Several research analysts have recently issued reports on the stock. Piper Sandler increased their price objective on shares of ProFrac from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Monday, May 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of ProFrac in a report on Wednesday, June 24th. Morgan Stanley set a $5.00 target price on ProFrac in a research report on Wednesday, July 15th. Finally, Wall Street Zen raised ProFrac from a “sell” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $5.50.
Institutional Trading of ProFrac
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its position in ProFrac by 7,241.7% in the second quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock worth $27,000 after buying an additional 3,476 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of ProFrac during the 2nd quarter valued at $29,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of ProFrac during the 3rd quarter worth $45,000. Price T Rowe Associates Inc. MD bought a new stake in shares of ProFrac during the 4th quarter worth $46,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of ProFrac during the 4th quarter worth $47,000. 12.75% of the stock is owned by institutional investors and hedge funds.
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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.
Featured Articles
- Five stocks we like better than ProFrac
- Sony and TSMC’s $4.7 Billion Venture Is About More Than Camera Sensors
- Quantum Leaps: Debt-Free as AI Storage Demand Accelerates
- NVIDIA’s $500 Billion GPU Financing Deal Fuels Path Toward $270
- Sandisk’s Margins Look Like Software. Can They Last?
Receive News & Ratings for ProFrac Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ProFrac and related companies with MarketBeat.com's FREE daily email newsletter.
