ProFrac (NASDAQ:ACDC) Trading Up 4.5% – What’s Next?

ProFrac Holding Corp. (NASDAQ:ACDC) traded up 4.5% during trading on Tuesday . The stock traded as high as $8.16 and last traded at $8.12. 195,576 shares were traded during trading, a decline of 58% from the average session volume of 468,702 shares. The stock had previously closed at $7.77.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ACDC shares. JPMorgan Chase & Co. downgraded shares of ProFrac from a “neutral” rating to an “underweight” rating and set a $7.00 price objective on the stock. in a report on Friday, December 6th. Stifel Nicolaus lifted their price target on shares of ProFrac from $6.00 to $7.00 and gave the stock a “hold” rating in a research note on Monday, March 10th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.40.

ProFrac Trading Up 3.0 %

The stock has a market capitalization of $1.28 billion, a PE ratio of -5.67 and a beta of 1.18. The stock’s 50 day moving average price is $7.65 and its 200-day moving average price is $7.32. The company has a quick ratio of 0.62, a current ratio of 0.95 and a debt-to-equity ratio of 0.86.

Insider Buying and Selling at ProFrac

In other ProFrac news, major shareholder Farris Wilks bought 338,756 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was purchased at an average price of $6.93 per share, for a total transaction of $2,347,579.08. Following the completion of the transaction, the insider now owns 1,316,534 shares of the company’s stock, valued at $9,123,580.62. This trade represents a 34.65 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.93% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in shares of ProFrac by 110.7% during the fourth quarter. GAMMA Investing LLC now owns 5,749 shares of the company’s stock worth $45,000 after acquiring an additional 3,021 shares during the last quarter. Fortitude Family Office LLC bought a new position in shares of ProFrac during the 4th quarter valued at about $57,000. AlphaQuest LLC purchased a new position in shares of ProFrac during the fourth quarter valued at about $66,000. Catalina Capital Group LLC bought a new stake in shares of ProFrac in the fourth quarter worth about $79,000. Finally, Stratos Investment Management LLC bought a new position in ProFrac during the fourth quarter valued at approximately $84,000. 12.75% of the stock is currently owned by institutional investors.

ProFrac Company Profile

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.