72,261 Shares in ProFrac Holding Corp. (NASDAQ:ACDC) Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP acquired a new position in ProFrac Holding Corp. (NASDAQ:ACDC) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 72,261 shares of the company’s stock, valued at approximately $548,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ACDC. Orion Portfolio Solutions LLC acquired a new position in shares of ProFrac in the fourth quarter worth approximately $130,000. O Shaughnessy Asset Management LLC acquired a new position in shares of ProFrac in the fourth quarter worth approximately $223,000. Geode Capital Management LLC lifted its stake in shares of ProFrac by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 591,501 shares of the company’s stock worth $4,591,000 after acquiring an additional 2,893 shares during the period. Wells Fargo & Company MN lifted its stake in shares of ProFrac by 52.0% in the fourth quarter. Wells Fargo & Company MN now owns 426,898 shares of the company’s stock worth $3,313,000 after acquiring an additional 146,028 shares during the period. Finally, Townsquare Capital LLC lifted its stake in shares of ProFrac by 90.6% in the fourth quarter. Townsquare Capital LLC now owns 24,334 shares of the company’s stock worth $189,000 after acquiring an additional 11,565 shares during the period. 12.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Chairman Matthew Wilks bought 69,176 shares of the stock in a transaction dated Monday, May 12th. The shares were bought at an average cost of $4.85 per share, with a total value of $335,503.60. Following the completion of the transaction, the chairman directly owned 378,153 shares of the company’s stock, valued at $1,834,042.05. This trade represents a 22.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Holdings Lp Thrc bought 390,253 shares of the stock in a transaction dated Thursday, May 15th. The shares were purchased at an average cost of $6.10 per share, for a total transaction of $2,380,543.30. Following the completion of the transaction, the insider directly owned 79,648,695 shares of the company’s stock, valued at $485,857,039.50. This trade represents a 0.49% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 733,996 shares of company stock worth $4,356,960 over the last ninety days. 2.84% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on ACDC shares. Piper Sandler began coverage on ProFrac in a research note on Monday, July 14th. They issued a “neutral” rating and a $8.00 price objective on the stock. Stifel Nicolaus dropped their price target on ProFrac from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley dropped their price target on ProFrac from $7.00 to $5.00 and set an “underweight” rating on the stock in a research note on Friday, May 16th. Wall Street Zen raised ProFrac from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, Bank of America lowered ProFrac from a “neutral” rating to an “underperform” rating and set a $6.50 price target on the stock. in a research note on Wednesday, June 25th. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.50.

ProFrac Price Performance

Shares of ACDC opened at $6.58 on Tuesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.69 and a current ratio of 0.98. ProFrac Holding Corp. has a 52-week low of $3.83 and a 52-week high of $10.70. The business’s 50 day moving average price is $8.13 and its two-hundred day moving average price is $7.09. The firm has a market cap of $1.05 billion, a PE ratio of -4.42 and a beta of 1.68.

ProFrac (NASDAQ:ACDC) last issued its earnings results 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 11.85% and a negative net margin of 10.72%. On average, equities analysts anticipate that ProFrac Holding Corp. will post -0.5 EPS for the current year.

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.