ProFrac (NASDAQ:ACDC) Stock Price Up 8.5%

ProFrac Holding Corp. (NASDAQ:ACDC) shares traded up 8.5% on Thursday . The company traded as high as $7.92 and last traded at $7.91. 256,993 shares were traded during trading, a decline of 71% from the average session volume of 900,272 shares. The stock had previously closed at $7.29.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Piper Sandler dropped their price target on shares of ProFrac from $11.00 to $9.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Bank of America dropped their price target on shares of ProFrac from $9.50 to $8.50 and set a “neutral” rating on the stock in a research report on Monday, July 15th.

ProFrac Price Performance

The stock has a market cap of $1.31 billion, a PE ratio of -8.59 and a beta of 0.86. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.07 and a quick ratio of 0.71. The firm’s 50 day moving average price is $8.21 and its two-hundred day moving average price is $7.95.

ProFrac (NASDAQ:ACDC) last released its quarterly earnings data on Friday, May 10th. The company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. ProFrac had a negative net margin of 5.35% and a negative return on equity of 1.00%. The company had revenue of $581.50 million during the quarter, compared to analyst estimates of $587.60 million. On average, research analysts expect that ProFrac Holding Corp. will post 0.41 earnings per share for the current year.

Insider Buying and Selling at ProFrac

In other ProFrac news, major shareholder Holdings Lp Thrc acquired 194,461 shares of the stock in a transaction dated Thursday, May 23rd. The stock was purchased at an average cost of $9.28 per share, for a total transaction of $1,804,598.08. Following the acquisition, the insider now owns 74,935,006 shares in the company, valued at approximately $695,396,855.68. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.93% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its stake in shares of 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 acquiring an additional 2,034 shares in the last quarter. Delta Investment Management LLC raised its stake in 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 acquiring an additional 5,000 shares during the period. Jump Financial LLC bought a new stake in ProFrac during the 4th quarter worth approximately $179,000. Aristides Capital LLC bought a new stake in ProFrac during the 4th quarter worth approximately $279,000. Finally, Quest Partners LLC bought a new stake in shares of ProFrac during the fourth quarter valued at approximately $356,000. 12.75% of the stock is owned by hedge funds and other 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.