ProFrac Holding Corp. (NASDAQ:ACDC) Short Interest Up 10.0% in June

ProFrac Holding Corp. (NASDAQ:ACDCGet Free Report) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 5,400,000 shares, an increase of 10.0% from the May 31st total of 4,910,000 shares. Based on an average daily volume of 1,020,000 shares, the days-to-cover ratio is presently 5.3 days.

ProFrac Price Performance

ACDC stock opened at $7.66 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.71 and a current ratio of 1.07. The firm has a 50 day moving average price of $8.20 and a 200-day moving average price of $8.01. ProFrac has a 52-week low of $6.46 and a 52-week high of $14.23. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -8.24 and a beta of 0.86.

ProFrac (NASDAQ:ACDCGet Free Report) last released its quarterly earnings data on Friday, May 10th. The company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. The business had revenue of $581.50 million during the quarter, compared to analyst estimates of $587.60 million. ProFrac had a negative net margin of 5.35% and a negative return on equity of 1.00%. Equities research analysts forecast that ProFrac will post 0.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on ACDC shares. Stifel Nicolaus dropped their price objective on ProFrac from $12.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, March 14th. Bank of America lifted their price target on shares of ProFrac from $8.50 to $9.50 and gave the company a “neutral” rating in a report on Monday, April 15th.

Check Out Our Latest Analysis on ACDC

Insider Buying and Selling

In other ProFrac news, major shareholder Holdings Lp Thrc purchased 194,461 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was acquired at an average cost of $9.28 per share, for a total transaction of $1,804,598.08. Following the completion of the transaction, the insider now directly owns 74,935,006 shares in the company, valued at approximately $695,396,855.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, major shareholder Farris Wilks purchased 330,000 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were acquired at an average price of $22.08 per share, with a total value of $7,286,400.00. Following the acquisition, the insider now directly owns 58,541,444 shares in the company, valued at $1,292,595,083.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Holdings Lp Thrc acquired 194,461 shares of the stock in a transaction dated Thursday, May 23rd. The shares were purchased at an average cost of $9.28 per share, with a total value of $1,804,598.08. Following the completion of the purchase, the insider now owns 74,935,006 shares of the company’s stock, valued at approximately $695,396,855.68. The disclosure for this purchase can be found here. Insiders have acquired a total of 964,678 shares of company stock worth $13,268,657 in the last 90 days. 2.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ACDC. First Financial Bankshares Inc purchased a new position in shares of ProFrac during the fourth quarter valued at approximately $8,580,000. Russell Investments Group Ltd. grew its position in shares of ProFrac by 712.8% during the 4th quarter. Russell Investments Group Ltd. now owns 149,100 shares of the company’s stock valued at $1,264,000 after acquiring an additional 130,757 shares during the period. Tower Research Capital LLC TRC increased its position in ProFrac by 42.4% in the fourth 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. Jump Financial LLC bought a new position in shares of ProFrac in the fourth quarter worth about $179,000. Finally, Pinnacle Associates Ltd. grew its holdings in ProFrac by 34.9% during the 4th quarter. Pinnacle Associates Ltd. now owns 116,405 shares of the company’s stock valued at $987,000 after buying an additional 30,085 shares in the last quarter. Hedge funds and other institutional investors own 12.75% of the company’s stock.

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.

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