ProFrac (NASDAQ:ACDC) Shares Gap Down to $9.15

ProFrac Holding Corp. (NASDAQ:ACDCGet Free Report)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $9.15, but opened at $8.81. ProFrac shares last traded at $8.75, with a volume of 8,529 shares traded.

Analyst Ratings Changes

Several analysts recently weighed in on ACDC shares. Bank of America upped their price target on ProFrac from $8.50 to $9.50 and gave the stock a “neutral” rating in a research note on Monday, April 15th. Stifel Nicolaus cut their price target on ProFrac from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, March 14th.

Read Our Latest Stock Report on ProFrac

ProFrac Trading Up 1.3 %

The firm has a 50 day simple moving average of $8.42 and a 200 day simple moving average of $8.06. The company has a current ratio of 1.07, a quick ratio of 0.71 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $1.42 billion, a PE ratio of -9.41 and a beta of 0.93.

ProFrac (NASDAQ:ACDCGet Free Report) last issued its earnings results on Friday, May 10th. The company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. ProFrac had a negative return on equity of 1.00% and a negative net margin of 5.35%. The business had revenue of $581.50 million for the quarter, compared to the consensus estimate of $587.60 million. Equities analysts expect that ProFrac Holding Corp. will post 0.58 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Holdings Lp Thrc purchased 440,217 shares of the stock in a transaction dated Tuesday, May 28th. The shares were purchased at an average cost of $9.49 per share, with a total value of $4,177,659.33. Following the acquisition, the insider now directly owns 75,640,762 shares of the company’s stock, valued at $717,830,831.38. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, major shareholder Holdings Lp Thrc bought 440,217 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were bought at an average cost of $9.49 per share, with a total value of $4,177,659.33. Following the acquisition, the insider now owns 75,640,762 shares in the company, valued at $717,830,831.38. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Farris Wilks bought 330,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was bought at an average cost of $22.08 per share, for a total transaction of $7,286,400.00. Following the completion of the acquisition, the insider now owns 58,541,444 shares in the company, valued at approximately $1,292,595,083.52. The disclosure for this purchase can be found here. Insiders have bought 964,678 shares of company stock valued at $13,268,657 in the last ninety days. 2.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ProFrac

A number of institutional investors have recently bought and sold shares of ACDC. Tower Research Capital LLC TRC increased its stake in ProFrac by 42.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,827 shares of the company’s stock worth $58,000 after buying an additional 2,034 shares in the last quarter. Delta Investment Management LLC increased its stake in ProFrac by 47.8% in the 1st quarter. Delta Investment Management LLC now owns 15,469 shares of the company’s stock worth $129,000 after buying an additional 5,000 shares in the last quarter. Bank of New York Mellon Corp increased its stake in ProFrac by 5.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 172,244 shares of the company’s stock worth $1,874,000 after buying an additional 8,265 shares in the last quarter. New York State Common Retirement Fund increased its stake in ProFrac by 56.4% in the 3rd quarter. New York State Common Retirement Fund now owns 48,661 shares of the company’s stock worth $529,000 after buying an additional 17,539 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in ProFrac in the 4th quarter worth $179,000. 12.75% of the stock is owned by institutional investors.

ProFrac Company Profile

(Get Free Report)

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.

Further Reading

Receive News & Ratings for ProFrac Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ProFrac and related companies with MarketBeat.com's FREE daily email newsletter.