Hara Capital LLC Lowers Stock Position in ProFrac Holding Corp. (NASDAQ:ACDC)

Hara Capital LLC cut its position in shares of ProFrac Holding Corp. (NASDAQ:ACDC) by 13.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,616 shares of the company’s stock after selling 4,994 shares during the period. Hara Capital LLC’s holdings in ProFrac were worth $245,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC boosted its holdings in ProFrac by 114.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 831,320 shares of the company’s stock worth $5,645,000 after buying an additional 443,530 shares in the last quarter. Empowered Funds LLC boosted its holdings in ProFrac by 5.1% during the fourth quarter. Empowered Funds LLC now owns 582,767 shares of the company’s stock worth $4,522,000 after buying an additional 28,370 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in ProFrac by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 175,777 shares of the company’s stock worth $1,194,000 after buying an additional 6,063 shares in the last quarter. Arete Wealth Advisors LLC boosted its holdings in ProFrac by 478.8% during the third quarter. Arete Wealth Advisors LLC now owns 130,447 shares of the company’s stock worth $874,000 after buying an additional 107,908 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its holdings in ProFrac by 39.8% during the third quarter. Pinnacle Associates Ltd. now owns 116,405 shares of the company’s stock worth $790,000 after buying an additional 33,139 shares in the last quarter. 12.75% of the stock is owned by hedge funds and other institutional investors.

ProFrac Stock Up 2.3 %

ACDC opened at $7.93 on Tuesday. The company has a quick ratio of 0.62, a current ratio of 0.95 and a debt-to-equity ratio of 0.86. ProFrac Holding Corp. has a 52-week low of $5.16 and a 52-week high of $9.75. The firm’s fifty day simple moving average is $7.84 and its two-hundred day simple moving average is $7.20.

Wall Street Analyst Weigh In

ACDC has been the topic of several recent analyst reports. Stifel Nicolaus decreased their price objective on shares of ProFrac from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. downgraded shares of ProFrac from a “neutral” rating to an “underweight” rating and set a $7.00 price objective on the stock. in a 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $7.20.

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.