ProFrac (NASDAQ:ACDC) Stock Price Down 5.5% – Time to Sell?

ProFrac Holding Corp. (NASDAQ:ACDCGet Free Report) dropped 5.5% on Wednesday . The stock traded as low as $4.81 and last traded at $4.7180. 48,220 shares traded hands during trading, a decline of 97% from the average session volume of 1,450,181 shares. The stock had previously closed at $4.99.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ACDC. Piper Sandler increased their price objective on shares of ProFrac from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Monday, May 18th. Morgan Stanley lowered their price objective on shares of ProFrac from $5.00 to $4.50 and set an “underweight” rating for the company in a research note on Thursday, August 20th. Wall Street Zen lowered ProFrac from a “hold” rating to a “sell” rating in a report on Sunday, August 23rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ProFrac in a report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $5.25.

Read Our Latest Report on ProFrac

ProFrac Stock Performance

The firm has a market capitalization of $898.76 million, a price-to-earnings ratio of -2.11 and a beta of 1.49. The firm’s 50 day simple moving average is $4.86 and its 200 day simple moving average is $5.87. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.59 and a current ratio of 0.84.

Insider Activity

In other news, major shareholder Holdings Lp Thrc purchased 363,757 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were purchased at an average cost of $4.70 per share, with a total value of $1,709,657.90. Following the completion of the acquisition, the insider owned 83,785,415 shares of the company’s stock, valued at approximately $393,791,450.50. This represents a 0.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew Wilks bought 57,519 shares of the stock in a transaction dated Monday, August 10th. The shares were purchased at an average cost of $4.86 per share, for a total transaction of $279,542.34. Following the completion of the purchase, the chief executive officer owned 479,616 shares in the company, valued at approximately $2,330,933.76. This represents a 13.63% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 2,014,454 shares of company stock valued at $9,750,117 in the last quarter. 2.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ACDC. Walleye Capital LLC lifted its holdings in ProFrac by 3.6% during the fourth quarter. Walleye Capital LLC now owns 81,169 shares of the company’s stock valued at $316,000 after purchasing an additional 2,785 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of ProFrac by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 427,063 shares of the company’s stock worth $1,580,000 after purchasing an additional 3,003 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in ProFrac by 3.5% during the third quarter. Dimensional Fund Advisors LP now owns 96,957 shares of the company’s stock worth $359,000 after buying an additional 3,318 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of ProFrac by 7,241.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock valued at $27,000 after acquiring an additional 3,476 shares during the last quarter. Finally, Intech Investment Management LLC boosted its holdings in ProFrac by 27.2% in the 3rd quarter. Intech Investment Management LLC now owns 16,434 shares of the company’s stock valued at $61,000 after purchasing an additional 3,514 shares during the last quarter. Hedge funds and other institutional investors own 12.75% of the company’s stock.

ProFrac Company Profile

(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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