ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report)'s stock price was up 5.5% on Tuesday . The stock traded as high as $7.88 and last traded at $8.01. Approximately 174,723 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 464,728 shares. The stock had previously closed at $7.59.
Analyst Ratings Changes
Separately, Stifel Nicolaus increased their price target on shares of ProFrac from $6.00 to $7.00 and gave the stock a "hold" rating in a report on Monday, March 10th. Two 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. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $7.40.
Check Out Our Latest Report on ACDC
ProFrac Stock Performance
The stock's 50 day moving average price is $7.42 and its two-hundred day moving average price is $7.39. 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 firm has a market capitalization of $826.52 million, a price-to-earnings ratio of -3.66 and a beta of 1.05.
Insiders Place Their Bets
In other news, major shareholder Farris Wilks acquired 338,756 shares of ProFrac stock in a transaction that occurred on Wednesday, February 26th. The stock was purchased at an average cost of $6.93 per share, with a total value of $2,347,579.08. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.93% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings 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 acquiring an additional 3,021 shares in the last quarter. Fortitude Family Office LLC purchased a new position in shares of ProFrac during the 4th quarter worth approximately $57,000. AlphaQuest LLC acquired a new position in shares of ProFrac during the 4th quarter worth approximately $66,000. Catalina Capital Group LLC purchased a new stake in ProFrac in the 4th quarter valued at approximately $79,000. Finally, Stratos Investment Management LLC acquired a new stake in ProFrac during the 4th quarter valued at $84,000. Institutional investors and hedge funds own 12.75% of the company's stock.
About ProFrac
(
Get Free Report)
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.
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