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

ProFrac Holding Corp. (NASDAQ:ACDC) major shareholder Holdings Lp Thrc acquired 353,635 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was purchased at an average price of $6.17 per share, for a total transaction of $2,181,927.95. Following the transaction, the insider now directly owns 79,197,549 shares of the company’s stock, valued at approximately $488,648,877.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions 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 stock was acquired at an average cost of $6.25 per share, for a total transaction of $13,462.50.
• On Thursday, September 5th, Holdings Lp Thrc purchased 165,316 shares of ProFrac stock. The shares were acquired at an average cost 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 price of $6.49 per share, for a total transaction of $5,102,392.57.
• On Friday, August 30th, Holdings Lp Thrc bought 6,136 shares of ProFrac stock. The shares were acquired at an average price of $6.99 per share, with a total value of $42,890.64.
• On Tuesday, August 27th, Holdings Lp Thrc acquired 31,784 shares of ProFrac stock. The shares were bought at an average cost of $6.69 per share, for a total transaction of $212,634.96.
• On Tuesday, August 20th, Holdings Lp Thrc acquired 46,999 shares of ProFrac stock. The stock was bought at an average price of $6.48 per share, with a total value of $304,553.52.
• On Thursday, August 15th, Holdings Lp Thrc acquired 130,000 shares of ProFrac stock. The stock was bought at an average price of $6.49 per share, with a total value of $843,700.00.
• On Tuesday, August 13th, Holdings Lp Thrc bought 411,383 shares of ProFrac stock. The shares were acquired at an average price of $6.03 per share, for a total transaction of $2,480,639.49.

ProFrac Stock Up 0.5 %

Shares of NASDAQ:ACDC traded up $0.03 during mid-day trading on Monday, reaching $6.23. 643,936 shares of the company traded hands, compared to its average volume of 922,337. ProFrac Holding Corp. has a 52 week low of $5.59 and a 52 week high of $11.72. The company’s 50 day moving average price is $7.09 and its 200-day moving average price is $7.80. The company has a current ratio of 1.01, a quick ratio of 0.64 and a debt-to-equity ratio of 0.85.

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). ProFrac had a negative net margin of 8.58% and a negative return on equity of 2.30%. The company had revenue of $579.40 million for the quarter, compared to analysts’ expectations of $624.64 million. As a group, equities research analysts anticipate that ProFrac Holding Corp. will post 0.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ACDC shares. Piper Sandler cut their price target on ProFrac from $11.00 to $9.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Stifel Nicolaus lowered their price target on ProFrac from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, Bank of America cut their target price 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. bought a new stake in ProFrac during the second quarter worth approximately $365,000. Squarepoint Ops LLC purchased a new position in shares of ProFrac in the 2nd quarter worth approximately $150,000. Marshall Wace LLP increased its position in shares of ProFrac by 1,632.1% during the 2nd quarter. Marshall Wace LLP now owns 242,491 shares of the company’s stock valued at $1,797,000 after purchasing an additional 228,491 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in ProFrac by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 89,071 shares of the company’s stock valued at $660,000 after buying an additional 5,312 shares during the period. Finally, American Century Companies Inc. lifted its position in ProFrac by 72.0% in the second quarter. American Century Companies Inc. now owns 315,689 shares of the company’s stock worth $2,339,000 after buying an additional 132,108 shares during the last quarter. 12.75% of the stock is currently 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.