ProFrac (NASDAQ:ACDC) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of ProFrac (NASDAQ:ACDC) from a hold rating to a sell rating in a research report released on Sunday morning.

A number of other equities research analysts also recently issued reports on the stock. Piper Sandler upped their price target on shares of ProFrac from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Monday, May 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of ProFrac in a research note on Wednesday, June 24th. Finally, Morgan Stanley reduced their target price on shares of ProFrac from $5.00 to $4.50 and set an “underweight” rating on the stock in a report on Thursday. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, ProFrac presently has an average rating of “Reduce” and an average price target of $5.25.

ProFrac Price Performance

NASDAQ ACDC opened at $4.83 on Friday. The stock has a 50 day moving average price of $5.05 and a 200-day moving average price of $5.90. ProFrac has a one year low of $3.08 and a one year high of $8.22. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.59 and a current ratio of 0.84. The company has a market capitalization of $879.64 million, a P/E ratio of -2.07 and a beta of 1.46.

Insider Buying and Selling

In related news, major shareholder Dan H. Wilks bought 517,669 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were purchased at an average price of $4.86 per share, with a total value of $2,515,871.34. Following the transaction, the insider owned 87,297,864 shares in the company, valued at $424,267,619.04. This trade represents a 0.60% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew Wilks purchased 57,519 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average price of $4.86 per share, for a total transaction of $279,542.34. Following the acquisition, the chief executive officer directly owned 479,616 shares in the company, valued at $2,330,933.76. This trade represents a 13.63% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders bought 800,000 shares of company stock valued at $4,018,391. Company insiders own 2.23% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Walleye Capital LLC lifted its stake in shares of ProFrac by 3.6% during the 4th quarter. Walleye Capital LLC now owns 81,169 shares of the company’s stock worth $316,000 after acquiring an additional 2,785 shares during the last quarter. Vanguard Group Inc. boosted its holdings in ProFrac by 0.7% during the 3rd 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 grew its position in ProFrac by 3.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 96,957 shares of the company’s stock valued at $359,000 after acquiring an additional 3,318 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in ProFrac by 7,241.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock valued at $27,000 after acquiring an additional 3,476 shares during the last quarter. Finally, Intech Investment Management LLC increased its stake in ProFrac by 27.2% in the third quarter. Intech Investment Management LLC now owns 16,434 shares of the company’s stock worth $61,000 after purchasing an additional 3,514 shares during the period. 12.75% of the stock is owned by hedge funds and other institutional investors.

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