ProFrac (NASDAQ:ACDC) Sets New 12-Month Low - Time to Sell?

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $5.12 and last traded at $5.21, with a volume of 890343 shares trading hands. The stock had previously closed at $6.68.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus lifted their price objective on ProFrac from $6.00 to $7.00 and gave the stock a "hold" rating in a report on Monday, March 10th. 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $7.40.

ProFrac Stock Up 23.0 %

The company's 50-day simple moving average is $7.14 and its two-hundred day simple moving average is $7.32. The firm has a market cap of $848.94 million, a PE ratio of -3.76 and a beta of 1.05. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.62 and a current ratio of 0.95.

Insider Buying and Selling

In other ProFrac news, major shareholder Farris Wilks acquired 338,756 shares of the business's stock in a transaction dated Wednesday, February 26th. The shares were purchased at an average cost of $6.93 per share, for a total transaction of $2,347,579.08. Following the transaction, the insider now owns 1,316,534 shares in the company, valued at $9,123,580.62. This represents a 34.65 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.93% of the stock is owned by insiders.

Institutional Trading of ProFrac

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACDC. Barclays PLC raised its holdings in ProFrac by 213.6% in the 3rd quarter. Barclays PLC now owns 29,215 shares of the company's stock worth $199,000 after purchasing an additional 19,898 shares in the last quarter. SG Americas Securities LLC bought a new position in ProFrac in the fourth quarter worth $115,000. Private Advisor Group LLC purchased a new position in ProFrac during the fourth quarter valued at $112,000. Bank of New York Mellon Corp boosted its holdings in shares of ProFrac by 1,822.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,785,781 shares of the company's stock valued at $13,858,000 after buying an additional 1,692,908 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of ProFrac by 12.8% in the 4th quarter. American Century Companies Inc. now owns 528,912 shares of the company's stock worth $4,104,000 after buying an additional 59,908 shares during the period. Hedge funds and other institutional investors 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.