ProFrac (NASDAQ:ACDC) Trading Up 7.9% - Still a Buy?

ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) was up 7.9% during mid-day trading on Friday . The company traded as high as $6.82 and last traded at $7.10. Approximately 9,028 shares changed hands during trading, a decline of 98% from the average daily volume of 452,815 shares. The stock had previously closed at $6.58.

Analysts Set New Price Targets

A number of research analysts have recently commented on ACDC shares. JPMorgan Chase & Co. downgraded 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. Stifel Nicolaus increased their price target on shares of ProFrac from $6.00 to $7.00 and gave the company a "hold" rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, ProFrac currently has an average rating of "Hold" and a consensus target price of $7.40.

ProFrac Price Performance

The firm has a market capitalization of $1.16 billion, a PE ratio of -5.14 and a beta of 1.18. 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 fifty day moving average price of $7.73 and a two-hundred day moving average price of $7.27.

Insider Buying and Selling at ProFrac

In other ProFrac news, major shareholder Farris Wilks bought 338,756 shares of the stock in a transaction dated Wednesday, February 26th. The shares were acquired at an average cost of $6.93 per share, for a total transaction of $2,347,579.08. Following the completion of the transaction, the insider now owns 1,316,534 shares in the company, valued at approximately $9,123,580.62. The trade was a 34.65 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.93% of the stock is owned by company insiders.

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Institutional Trading of ProFrac

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC raised 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 buying an additional 3,021 shares during the last quarter. Fortitude Family Office LLC acquired a new position in ProFrac in the 4th quarter valued at about $57,000. AlphaQuest LLC purchased a new stake in ProFrac during the 4th quarter valued at approximately $66,000. Catalina Capital Group LLC acquired a new stake in ProFrac during the 4th quarter worth approximately $79,000. Finally, Stratos Investment Management LLC purchased a new position in shares of ProFrac in the 4th quarter valued at approximately $84,000. Institutional investors and hedge funds own 12.75% of the company's stock.

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.