ProFrac (NASDAQ:ACDC) Major Shareholder Dan Wilks Buys 363,757 Shares

ProFrac Holding Corp. (NASDAQ:ACDC) major shareholder Dan Wilks purchased 363,757 shares of ProFrac stock in a transaction dated Monday, August 24th. The shares were purchased at an average price of $4.70 per share, with a total value of $1,709,657.90. Following the completion of the transaction, the insider directly owned 88,076,602 shares in the company, valued at approximately $413,960,029.40. This represents a 0.41% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

ProFrac Trading Down 1.1%

ProFrac stock opened at $4.62 on Thursday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.59 and a current ratio of 0.84. ProFrac Holding Corp. has a fifty-two week low of $3.08 and a fifty-two week high of $8.22. The stock has a market cap of $841.39 million, a P/E ratio of -1.98 and a beta of 1.46. The firm’s fifty day moving average price is $4.94 and its 200-day moving average price is $5.89.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACDC. Creative Planning bought a new position in ProFrac in the second quarter valued at $102,000. JPMorgan Chase & Co. lifted its stake in ProFrac by 818.7% during the second quarter. JPMorgan Chase & Co. now owns 101,191 shares of the company’s stock worth $785,000 after purchasing an additional 90,176 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in ProFrac by 7,241.7% during the second quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock worth $27,000 after purchasing an additional 3,476 shares during the last quarter. First Trust Advisors LP purchased a new position in shares of ProFrac in the 2nd quarter worth about $553,000. Finally, Sei Investments Co. boosted its holdings in shares of ProFrac by 17.7% in the 2nd quarter. Sei Investments Co. now owns 41,305 shares of the company’s stock worth $321,000 after purchasing an additional 6,200 shares in the last quarter. 12.75% of the stock is currently owned by hedge funds and other institutional investors.

More ProFrac News

Here are the key news stories impacting ProFrac this week:

• Positive Sentiment: Major shareholder Holdings LP THRC reported matching purchases of 607,227 shares over the same three dates, spending approximately $2.87 million and raising its reported ownership to more than 83.8 million shares. Repeated open-market buying by holders with substantial existing stakes may support investor confidence in ProFrac’s valuation and outlook. SEC Form 4 filing for Holdings LP THRC
• Neutral Sentiment: Reported purchases were made at prices between $4.70 and $4.81 per share, close to the stock’s recent trading range. The filings indicate conviction from major shareholders, but they do not provide new information about revenue, earnings, debt, or operating conditions.
• Neutral Sentiment: A separate report listed ProFrac’s short interest at zero shares as of August 25, unchanged from August 10, with a zero-day short-interest ratio. Because the report also showed an invalid percentage change (“NaN”), the figures may reflect incomplete or unreliable data and offer limited insight into trading pressure.

Analyst Upgrades and Downgrades

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

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.