Matthew Wilks Acquires 57,519 Shares of ProFrac (NASDAQ:ACDC) Stock

ProFrac Holding Corp. (NASDAQ:ACDC) CEO Matthew Wilks acquired 57,519 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was acquired at an average price of $4.86 per share, with a total value of $279,542.34. Following the completion of the transaction, the chief executive officer directly owned 479,616 shares of the company’s stock, valued at approximately $2,330,933.76. This represents a 13.63% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Matthew Wilks also recently made the following trade(s):

• On Tuesday, August 11th, Matthew Wilks bought 22,481 shares of ProFrac stock. The shares were acquired at an average cost of $5.44 per share, with a total value of $122,296.64.

ProFrac Trading Up 2.3%

Shares of NASDAQ:ACDC opened at $5.26 on Friday. The business’s 50 day moving average price is $5.32 and its 200-day moving average price is $5.90. ProFrac Holding Corp. has a 1 year low of $3.08 and a 1 year high of $8.22. The firm has a market capitalization of $951.64 million, a price-to-earnings ratio of -2.26 and a beta of 1.46. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.59.

More ProFrac News

Here are the key news stories impacting ProFrac this week:

• Positive Sentiment: CEO Matthew Wilks purchased 80,000 shares across August 10 and 11 for approximately $401,839, increasing his position by roughly 22%. Major shareholder Dan H. Wilks also bought 720,000 shares for approximately $3.62 million. The transactions may support sentiment by signaling that insiders view recent prices as attractive. Matthew Wilks Buys 22,481 Shares of ProFrac Stock
• Neutral Sentiment: During its Q2 earnings call, ProFrac discussed ongoing growth opportunities and the need to maintain operating and capital-allocation discipline. The outlook appears constructive for demand, but investors are likely focused on whether expansion can translate into stronger cash generation. ProFrac Q2 Earnings Call: Growth, Cash Strain, Discipline
• Negative Sentiment: Analysts’ questions on the Q2 call highlighted investor concerns about ProFrac’s cash strain, financial flexibility and the pace at which growth investments can produce returns. Those issues may limit valuation upside, particularly given the company’s elevated leverage and weak liquidity ratios. Five revealing analyst questions from ProFrac’s Q2 earnings call

Institutional Investors Weigh In On ProFrac

A number of hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its stake in shares of 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in ProFrac during the 2nd quarter valued at about $29,000. BNP Paribas Financial Markets grew its stake in ProFrac by 389.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,122 shares of the company’s stock valued at $48,000 after acquiring an additional 4,871 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in ProFrac by 822.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,234 shares of the company’s stock valued at $87,000 after acquiring an additional 10,016 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new stake in ProFrac in the 4th quarter valued at about $46,000. 12.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ACDC shares. Weiss Ratings restated a “sell (d-)” rating on shares of ProFrac in a research report on Wednesday, June 24th. Morgan Stanley set a $5.00 price objective on ProFrac in a report on Wednesday, July 15th. Piper Sandler increased their target price on ProFrac from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Monday, May 18th. Finally, Wall Street Zen downgraded ProFrac from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $5.50.

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.