ProFrac (NASDAQ:ACDC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ProFrac (NASDAQ:ACDC) from a sell rating to a hold rating in a research report released on Saturday,Wall Street Zen reports.

Several other equities analysts also recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProFrac in a report on Monday, September 21st. Morgan Stanley decreased 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. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, ProFrac currently has an average rating of “Reduce” and a consensus price target of $5.25.

ProFrac Trading Up 3.7%

Shares of ACDC opened at $4.75 on Friday. ProFrac has a twelve month low of $3.08 and a twelve month high of $8.22. The company has a market cap of $865.07 million, a P/E ratio of -2.04 and a beta of 1.52. The company has a current ratio of 0.84, a quick ratio of 0.59 and a debt-to-equity ratio of 1.42. The company’s fifty day simple moving average is $4.77 and its 200-day simple moving average is $5.76.

Insider Activity at ProFrac

In other ProFrac news, CEO Matthew Wilks acquired 57,519 shares of ProFrac stock in a transaction that occurred on Monday, August 10th. The stock was bought at an average price of $4.86 per share, with a total value of $279,542.34. Following the completion of the purchase, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Holdings Lp Thrc acquired 363,757 shares of ProFrac stock in a transaction that occurred on Monday, August 24th. The stock was acquired at an average cost of $4.70 per share, with a total value of $1,709,657.90. Following the purchase, the insider directly owned 83,785,415 shares of the company’s stock, valued at $393,791,450.50. This represents a 0.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 2,014,454 shares of company stock valued at $9,750,117 over the last ninety days. 2.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its position in shares of ProFrac by 156.5% during the first quarter. Dimensional Fund Advisors LP now owns 390,420 shares of the company’s stock valued at $2,421,000 after buying an additional 238,210 shares during the last quarter. Walleye Capital LLC grew its position in shares of ProFrac by 328.6% in the 1st quarter. Walleye Capital LLC now owns 347,911 shares of the company’s stock worth $2,157,000 after buying an additional 266,742 shares during the last quarter. Bank of America Corp DE raised its stake in shares of ProFrac by 186.9% during the 1st quarter. Bank of America Corp DE now owns 175,664 shares of the company’s stock worth $1,089,000 after acquiring an additional 114,429 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in ProFrac during the first quarter valued at approximately $872,000. Finally, Sei Investments Co. boosted its stake in ProFrac by 91.6% in the first quarter. Sei Investments Co. now owns 99,986 shares of the company’s stock valued at $620,000 after acquiring an additional 47,800 shares in the last quarter. 12.75% of the stock is owned by institutional investors.

ProFrac Company Profile

ProFrac Holding Corp. is an energy services company that provides hydraulic fracturing and other completion services to oil and natural gas producers. Its operations support the development of unconventional wells, where specialized equipment and high-pressure pumping are used to stimulate underground formations and improve hydrocarbon recovery.

The company operates an integrated business model spanning stimulation services, proppant production and manufacturing. Its offerings include hydraulic fracturing, well stimulation, frac sand and other proppants, logistics and related equipment manufacturing, maintenance and repair services.