ProFrac Holding Corp. (NASDAQ:ACDC) Major Shareholder Farris Wilks Buys 338,756 Shares

ProFrac Holding Corp. (NASDAQ:ACDC) major shareholder Farris Wilks purchased 338,756 shares of the business’s stock in a transaction 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 owns 1,316,534 shares in the company, valued at $9,123,580.62. This trade represents a 34.65 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

ProFrac Stock Performance

Shares of NASDAQ ACDC traded up $0.02 during mid-day trading on Friday, hitting $7.19. 711,342 shares of the company were exchanged, compared to its average volume of 425,696. The company has a quick ratio of 0.62, a current ratio of 0.95 and a debt-to-equity ratio of 0.86. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -5.10 and a beta of 1.19. The stock has a 50 day simple moving average of $7.82 and a 200-day simple moving average of $7.22. ProFrac Holding Corp. has a 1-year low of $5.16 and a 1-year high of $9.75.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in ProFrac by 110.7% during the 4th quarter. GAMMA Investing LLC now owns 5,749 shares of the company’s stock worth $45,000 after purchasing an additional 3,021 shares during the period. Fortitude Family Office LLC purchased a new position in shares of ProFrac in the 4th quarter valued at about $57,000. AlphaQuest LLC acquired a new stake in shares of ProFrac in the fourth quarter valued at about $66,000. Catalina Capital Group LLC purchased a new stake in ProFrac during the fourth quarter worth about $79,000. Finally, Stratos Investment Management LLC acquired a new position in ProFrac during the fourth quarter worth about $84,000. 12.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ACDC has been the topic of several research analyst reports. 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 note on Monday, January 6th. JPMorgan Chase & Co. lowered shares of ProFrac from a “neutral” rating to an “underweight” rating and set a $7.00 target price on the stock. in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $7.20.

ProFrac Company Profile

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.