Tudor Investment Corp ET AL Makes New $2.38 Million Investment in ProFrac Holding Corp. $ACDC

Tudor Investment Corp ET AL bought a new stake in shares of ProFrac Holding Corp. (NASDAQ:ACDC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 642,513 shares of the company’s stock, valued at approximately $2,377,000. Tudor Investment Corp ET AL owned about 0.36% of ProFrac at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ACDC. Vanguard Group Inc. lifted its holdings in ProFrac by 0.7% in the third quarter. Vanguard Group Inc. now owns 427,063 shares of the company’s stock valued at $1,580,000 after acquiring an additional 3,003 shares during the period. Dimensional Fund Advisors LP increased its position in shares of ProFrac by 3.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 96,957 shares of the company’s stock valued at $359,000 after purchasing an additional 3,318 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in ProFrac by 7,241.7% during the second quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock valued at $27,000 after buying an additional 3,476 shares during the period. Intech Investment Management LLC increased its holdings in ProFrac by 27.2% during the third quarter. Intech Investment Management LLC now owns 16,434 shares of the company’s stock valued at $61,000 after buying an additional 3,514 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in ProFrac in the second quarter worth approximately $29,000. Institutional investors own 12.75% of the company’s stock.

ProFrac Stock Down 1.2%

Shares of ACDC stock opened at $6.63 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.81 and a quick ratio of 0.56. ProFrac Holding Corp. has a one year low of $3.08 and a one year high of $10.70. The company’s fifty day moving average price is $5.55 and its 200-day moving average price is $4.56. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -3.01 and a beta of 1.70.

ProFrac (NASDAQ:ACDC) last issued its quarterly earnings results on Friday, March 13th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.07). The business had revenue of $436.50 million during the quarter, compared to analysts’ expectations of $402.95 million. ProFrac had a negative return on equity of 33.18% and a negative net margin of 18.97%. Sell-side analysts expect that ProFrac Holding Corp. will post -0.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ACDC. Morgan Stanley boosted their price objective on shares of ProFrac from $4.00 to $5.00 and gave the company an “underweight” rating in a research report on Tuesday. UBS Group reiterated a “positive” rating on shares of ProFrac in a research report on Thursday, March 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of ProFrac in a report on Monday, December 29th. Finally, Zacks Research raised ProFrac from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, ProFrac currently has an average rating of “Reduce” and a consensus price target of $5.63.

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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.