ProFrac Holding Corp. (NASDAQ:ACDC) Major Shareholder Holdings Lp Thrc Acquires 23,599 Shares

ProFrac Holding Corp. (NASDAQ:ACDC) major shareholder Holdings Lp Thrc purchased 23,599 shares of ProFrac stock in a transaction dated Monday, May 12th. The stock was bought at an average cost of $4.85 per share, for a total transaction of $114,455.15. Following the completion of the purchase, the insider now directly owns 79,234,130 shares in the company, valued at approximately $384,285,530.50. This trade represents a 0.03% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

ProFrac Stock Up 8.1%

Shares of NASDAQ:ACDC opened at $6.15 on Thursday. The firm’s 50-day moving average is $5.82 and its two-hundred day moving average is $6.97. 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 Holding Corp. has a 1 year low of $3.83 and a 1 year high of $9.75. The firm has a market capitalization of $985.09 million, a PE ratio of -4.36 and a beta of 1.14.

ProFrac (NASDAQ:ACDC) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.11) earnings per share for the quarter, topping 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%. Analysts predict that ProFrac Holding Corp. will post -0.5 EPS for the current year.

Analyst Upgrades and Downgrades

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

Institutional Trading of ProFrac

A number of large investors have recently made changes to their positions in ACDC. Barclays PLC lifted its position in shares of ProFrac by 213.6% during the 3rd quarter. Barclays PLC now owns 29,215 shares of the company’s stock worth $199,000 after purchasing an additional 19,898 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of ProFrac by 110.7% during the 4th quarter. GAMMA Investing LLC now owns 5,749 shares of the company’s stock worth $45,000 after acquiring an additional 3,021 shares in the last quarter. Hennessy Advisors Inc. raised its position in shares of ProFrac by 50.0% during the 4th quarter. Hennessy Advisors Inc. now owns 30,000 shares of the company’s stock worth $233,000 after acquiring an additional 10,000 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of ProFrac during the 4th quarter worth about $115,000. Finally, Catalina Capital Group LLC acquired a new position in ProFrac in the fourth quarter valued at approximately $79,000. 12.75% of the stock is currently owned by hedge funds and other institutional investors.

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.