ProFrac (NASDAQ:ACDC) Sets New 12-Month Low - Here's What Happened

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report)'s stock price hit a new 52-week low on Thursday . The company traded as low as $4.00 and last traded at $5.30, with a volume of 1755168 shares. The stock had previously closed at $4.31.

Analyst Ratings Changes

Separately, Stifel Nicolaus boosted their target price on ProFrac from $6.00 to $7.00 and gave the stock a "hold" rating in a research report on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $7.40.

ProFrac Trading Down 8.2 %

The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.62 and a current ratio of 0.95. The company has a 50-day simple moving average of $6.97 and a 200 day simple moving average of $7.29. The company has a market capitalization of $703.98 million, a P/E ratio of -3.16 and a beta of 1.05.

Insiders Place Their Bets

In other news, major shareholder Farris Wilks bought 338,756 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was bought at an average price of $6.93 per share, for a total transaction of $2,347,579.08. Following the completion of the purchase, the insider now owns 1,316,534 shares of the company's stock, valued at approximately $9,123,580.62. The trade was a 34.65 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.93% of the company's stock.

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Hedge Funds Weigh In On ProFrac

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its position in ProFrac by 3.6% during the 3rd 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. Quantinno Capital Management LP bought a new stake in shares of ProFrac during the third quarter valued at approximately $100,000. Barclays PLC grew its stake in shares of ProFrac by 213.6% during the third quarter. Barclays PLC now owns 29,215 shares of the company's stock valued at $199,000 after purchasing an additional 19,898 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of ProFrac by 110.7% in the fourth quarter. GAMMA Investing LLC now owns 5,749 shares of the company's stock valued at $45,000 after purchasing an additional 3,021 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new position in ProFrac during the 4th quarter worth $57,000. Institutional investors and hedge funds 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.