ProFrac (NASDAQ:ACDC) Trading Up 8.5%

ProFrac Holding Corp. (NASDAQ:ACDC) shares traded up 8.5% on Thursday . The stock traded as high as $7.92 and last traded at $7.91. 256,993 shares traded hands during trading, a decline of 71% from the average session volume of 900,272 shares. The stock had previously closed at $7.29.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Piper Sandler lowered their price objective on shares of ProFrac from $11.00 to $9.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Bank of America decreased their target price on shares of ProFrac from $9.50 to $8.50 and set a “neutral” rating for the company in a research report on Monday, July 15th.

ProFrac Stock Up 0.5 %

The company has a debt-to-equity ratio of 0.72, a current ratio of 1.07 and a quick ratio of 0.71. The stock has a 50 day simple moving average of $8.19 and a two-hundred day simple moving average of $7.96.

ProFrac (NASDAQ:ACDC) last released its earnings results on Friday, May 10th. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. The business had revenue of $581.50 million during the quarter, compared to analysts’ expectations of $587.60 million. ProFrac had a negative net margin of 5.35% and a negative return on equity of 1.00%. On average, research analysts predict that ProFrac Holding Corp. will post 0.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ProFrac news, major shareholder Holdings Lp Thrc bought 440,217 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average cost of $9.49 per share, with a total value of $4,177,659.33. Following the acquisition, the insider now owns 75,640,762 shares of the company’s stock, valued at $717,830,831.38. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its position in ProFrac by 42.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,827 shares of the company’s stock worth $58,000 after acquiring an additional 2,034 shares during the last quarter. Delta Investment Management LLC increased its stake in shares of ProFrac by 47.8% during the first quarter. Delta Investment Management LLC now owns 15,469 shares of the company’s stock worth $129,000 after purchasing an additional 5,000 shares during the period. Jump Financial LLC acquired a new stake in ProFrac during the 4th quarter worth approximately $179,000. Aristides Capital LLC bought a new stake in ProFrac in the 4th quarter valued at $279,000. Finally, Quest Partners LLC bought a new stake in ProFrac in the 4th quarter valued at $356,000. 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.