Holdings Lp Thrc Buys 353,635 Shares of ProFrac Holding Corp. (NASDAQ:ACDC) Stock

ProFrac Holding Corp. (NASDAQ:ACDC) major shareholder Holdings Lp Thrc bought 353,635 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were acquired at an average price of $6.17 per share, with a total value of $2,181,927.95. Following the transaction, the insider now directly owns 79,197,549 shares of the company’s stock, valued at $488,648,877.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Holdings Lp Thrc also recently made the following trade(s):

• On Monday, September 9th, Holdings Lp Thrc bought 2,154 shares of ProFrac stock. The shares were acquired at an average price of $6.25 per share, with a total value of $13,462.50.
• On Thursday, September 5th, Holdings Lp Thrc purchased 165,316 shares of ProFrac stock. The stock was purchased at an average price of $6.20 per share, with a total value of $1,024,959.20.
• On Tuesday, September 3rd, Holdings Lp Thrc acquired 786,193 shares of ProFrac stock. The stock was acquired at an average cost of $6.49 per share, with a total value of $5,102,392.57.
• On Friday, August 30th, Holdings Lp Thrc bought 6,136 shares of ProFrac stock. The shares were bought at an average cost of $6.99 per share, for a total transaction of $42,890.64.
• On Tuesday, August 27th, Holdings Lp Thrc acquired 31,784 shares of ProFrac stock. The stock was purchased at an average cost of $6.69 per share, for a total transaction of $212,634.96.
• On Tuesday, August 20th, Holdings Lp Thrc bought 46,999 shares of ProFrac stock. The shares were acquired at an average price of $6.48 per share, for a total transaction of $304,553.52.
• On Thursday, August 15th, Holdings Lp Thrc acquired 130,000 shares of ProFrac stock. The shares were bought at an average price of $6.49 per share, for a total transaction of $843,700.00.
• On Tuesday, August 13th, Holdings Lp Thrc bought 411,383 shares of ProFrac stock. The stock was purchased at an average price of $6.03 per share, with a total value of $2,480,639.49.

ProFrac Stock Up 0.5 %

NASDAQ ACDC traded up $0.03 on Monday, reaching $6.23. 643,936 shares of the company were exchanged, compared to its average volume of 922,337. The business’s fifty day moving average price is $7.09 and its 200 day moving average price is $7.80. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.64 and a current ratio of 1.01. ProFrac Holding Corp. has a fifty-two week low of $5.59 and a fifty-two week high of $11.72.

ProFrac (NASDAQ:ACDC) last posted its earnings results on Friday, August 9th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.12). The firm had revenue of $579.40 million during the quarter, compared to analyst estimates of $624.64 million. ProFrac had a negative net margin of 8.58% and a negative return on equity of 2.30%. Equities analysts expect that ProFrac Holding Corp. will post 0.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ACDC has been the subject of a number of recent research reports. Bank of America reduced their price target on shares of ProFrac from $9.50 to $8.50 and set a “neutral” rating for the company in a research report on Monday, July 15th. Stifel Nicolaus dropped their price objective on ProFrac from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, Piper Sandler cut their target price on shares of ProFrac from $11.00 to $9.00 and set an “overweight” rating for the company in a research note on Monday, July 15th.

Institutional Investors Weigh In On ProFrac

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Delta Investment Management LLC boosted its position in shares of ProFrac by 47.8% during the 1st quarter. Delta Investment Management LLC now owns 15,469 shares of the company’s stock worth $129,000 after purchasing an additional 5,000 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of ProFrac by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 89,071 shares of the company’s stock worth $660,000 after buying an additional 5,312 shares during the period. nVerses Capital LLC acquired a new stake in shares of ProFrac in the second quarter valued at $44,000. Bank of New York Mellon Corp lifted its stake in ProFrac by 12.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 117,720 shares of the company’s stock worth $872,000 after acquiring an additional 12,683 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in ProFrac during the 2nd quarter valued at about $150,000. Institutional investors and hedge funds own 12.75% of the company’s stock.

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.