ProFrac (NASDAQ:ACDC) Trading Down 5.2% Following Analyst Downgrade

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) traded down 5.2% during trading on Tuesday after Stifel Nicolaus lowered their price target on the stock from $7.00 to $6.00. Stifel Nicolaus currently has a hold rating on the stock. ProFrac traded as low as $4.49 and last traded at $4.54. 50,132 shares were traded during trading, a decline of 93% from the average session volume of 731,208 shares. The stock had previously closed at $4.79.

Insider Transactions at ProFrac

In related news, major shareholder Farris Wilks acquired 338,756 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was bought at an average cost of $6.93 per share, for a total transaction of $2,347,579.08. Following the purchase, the insider now owns 1,316,534 shares in the company, valued at $9,123,580.62. The trade was a 34.65 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ProFrac

Several large investors have recently added to or reduced their stakes in ACDC. Quantinno Capital Management LP boosted its holdings in ProFrac by 11.3% in the 4th quarter. Quantinno Capital Management LP now owns 16,387 shares of the company's stock worth $127,000 after buying an additional 1,670 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of ProFrac by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 90,939 shares of the company's stock worth $706,000 after acquiring an additional 1,860 shares during the period. Geode Capital Management LLC grew its position in shares of ProFrac by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 591,501 shares of the company's stock worth $4,591,000 after purchasing an additional 2,893 shares in the last quarter. GAMMA Investing LLC raised its stake in ProFrac by 110.7% during the 4th 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 during the period. Finally, Barclays PLC lifted its holdings in ProFrac by 14.4% in the 4th quarter. Barclays PLC now owns 33,409 shares of the company's stock worth $259,000 after purchasing an additional 4,194 shares in the last quarter. Hedge funds and other institutional investors own 12.75% of the company's stock.

ProFrac Stock Up 8.4 %

The company has a current ratio of 0.95, a quick ratio of 0.62 and a debt-to-equity ratio of 0.86. The company has a 50 day simple moving average of $6.73 and a two-hundred day simple moving average of $7.22. The firm has a market capitalization of $784.87 million, a P/E ratio of -3.48 and a beta of 1.05.

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.