ProFrac (NASDAQ:ACDC) Shares Down 6.7% – Time to Sell?

Shares of ProFrac Holding Corp. (NASDAQ:ACDC) were down 6.7% during mid-day trading on Monday . The company traded as low as $4.87 and last traded at $4.8250. 68,140 shares were traded during trading, a decline of 95% from the average session volume of 1,435,260 shares. The stock had previously closed at $5.17.

Wall Street Analysts Forecast Growth

ACDC has been the subject of several research analyst reports. Morgan Stanley reduced their price objective on shares of ProFrac from $5.00 to $4.50 and set an “underweight” rating for the company in a report on Thursday, August 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProFrac in a research note on Wednesday, June 24th. Finally, Wall Street Zen downgraded ProFrac from a “hold” rating to a “sell” rating in a research report on Sunday. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, ProFrac currently has an average rating of “Reduce” and an average target price of $5.25.

ProFrac Stock Down 4.0%

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 $904.24 million, a price-to-earnings ratio of -2.13 and a beta of 1.49. The stock’s fifty day simple moving average is $4.82 and its two-hundred day simple moving average is $5.86.

Insider Buying and Selling

In other ProFrac news, major shareholder Holdings Lp Thrc bought 30,820 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was acquired at an average cost of $4.81 per share, with a total value of $148,244.20. Following the completion of the purchase, the insider directly owned 83,816,235 shares in the company, valued at approximately $403,156,090.35. This trade represents a 0.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Matthew Wilks bought 22,481 shares of ProFrac stock in a transaction that occurred on Tuesday, August 11th. The shares were acquired at an average price of $5.44 per share, with a total value of $122,296.64. Following the completion of the acquisition, the chief executive officer directly owned 502,097 shares of the company’s stock, valued at $2,731,407.68. This represents a 4.69% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 2,014,454 shares of company stock worth $9,750,117 in the last ninety days. 2.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ProFrac

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Allworth Financial LP lifted its holdings in shares of ProFrac by 88.8% during the second quarter. Allworth Financial LP now owns 6,658 shares of the company’s stock valued at $39,000 after purchasing an additional 3,131 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in ProFrac in the 2nd quarter worth about $68,000. SG Americas Securities LLC acquired a new stake in ProFrac during the 1st quarter worth about $86,000. Alpine Global Management LLC acquired a new stake in ProFrac during the 4th quarter worth about $88,000. Finally, AXQ Capital LP lifted its stake in ProFrac by 11.0% during the second quarter. AXQ Capital LP now owns 45,301 shares of the company’s stock valued at $263,000 after buying an additional 4,487 shares in the last quarter. 12.75% of the stock is owned by institutional investors and hedge funds.

ProFrac Company Profile

ProFrac Holding Corp. (NASDAQ: ACDC) is an energy services company that provides hydraulic fracturing and other well-completion services to oil and natural gas exploration and production companies. Its services are used primarily during the development of unconventional wells, including shale and tight-oil formations.

The company operates a vertically integrated business that includes stimulation services, proppant production and equipment manufacturing. Its offerings include hydraulic fracturing fleets, frac sand and other proppants, well-completion chemicals, and related equipment and services designed to support the drilling and completion process.

ProFrac serves customers in major U.S.