ProFrac (NASDAQ:ACDC) Trading Down 6.6% – Time to Sell?

ProFrac Holding Corp. (NASDAQ:ACDC) traded down 6.6% on Monday . The company traded as low as $4.64 and last traded at $4.58. 51,264 shares traded hands during trading, a decline of 93% from the average session volume of 723,061 shares. The stock had previously closed at $4.90.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus cut their price target on shares of ProFrac from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.20.

ProFrac Stock Down 6.3 %

The company has a current ratio of 0.95, a quick ratio of 0.62 and a debt-to-equity ratio of 0.86. The stock’s 50-day moving average price is $6.73 and its 200-day moving average price is $7.22. The company has a market cap of $735.22 million, a P/E ratio of -3.26 and a beta of 1.05.

Insider Buying and Selling at ProFrac

In other ProFrac news, major shareholder Farris Wilks bought 338,756 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were bought at an average price of $6.93 per share, for a total transaction of $2,347,579.08. Following the acquisition, the insider now directly owns 1,316,534 shares of the company’s stock, valued at approximately $9,123,580.62. The trade was a 34.65 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.93% of the company’s stock.

Institutional Trading of ProFrac

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Inscription Capital LLC purchased a new position in shares of ProFrac during the first quarter valued at approximately $206,000. Exchange Traded Concepts LLC grew its stake in shares of ProFrac by 1,258.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 10,164 shares of the company’s stock worth $77,000 after acquiring an additional 9,416 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of ProFrac by 689.6% in the first quarter. GAMMA Investing LLC now owns 45,396 shares of the company’s stock valued at $345,000 after purchasing an additional 39,647 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of ProFrac by 11.3% during the fourth quarter. Quantinno Capital Management LP now owns 16,387 shares of the company’s stock valued at $127,000 after purchasing an additional 1,670 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its holdings in ProFrac by 2.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,055,267 shares of the company’s stock worth $8,189,000 after purchasing an additional 28,370 shares during the last quarter. 12.75% of the stock is owned by institutional investors.

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.