ProFrac Holding Corp. (NASDAQ:ACDC) Short Interest Update

ProFrac Holding Corp. (NASDAQ:ACDC) was the recipient of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 4,910,000 shares, an increase of 5.1% from the May 15th total of 4,670,000 shares. Based on an average daily trading volume, of 1,100,000 shares, the short-interest ratio is currently 4.5 days.

Analyst Ratings Changes

Several equities research analysts have commented on ACDC shares. Stifel Nicolaus decreased their target price on shares of ProFrac from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, March 14th. Bank of America lifted their price target on ProFrac from $8.50 to $9.50 and gave the stock a “neutral” rating in a research note on Monday, April 15th.

Insider Activity at ProFrac

In other news, major shareholder Holdings Lp Thrc acquired 194,461 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were purchased at an average cost of $9.28 per share, for a total transaction of $1,804,598.08. Following the transaction, the insider now directly owns 74,935,006 shares in the company, valued at approximately $695,396,855.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Holdings Lp Thrc bought 194,461 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were bought at an average cost of $9.28 per share, for a total transaction of $1,804,598.08. Following the transaction, the insider now owns 74,935,006 shares of the company’s stock, valued at $695,396,855.68. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Farris Wilks bought 330,000 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were bought at an average price of $22.08 per share, for a total transaction of $7,286,400.00. Following the completion of the transaction, the insider now directly owns 58,541,444 shares in the company, valued at approximately $1,292,595,083.52. The disclosure for this purchase can be found here. Insiders have bought a total of 964,678 shares of company stock worth $13,268,657 in the last three months. Insiders own 2.93% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in ProFrac in the 1st quarter valued at about $401,000. Delta Investment Management LLC raised its stake in ProFrac by 47.8% in the 1st quarter. Delta Investment Management LLC now owns 15,469 shares of the company’s stock valued at $129,000 after purchasing an additional 5,000 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in ProFrac in the 1st quarter valued at about $357,000. First Financial Bankshares Inc acquired a new position in ProFrac in the 4th quarter valued at about $8,580,000. Finally, CastleKnight Management LP acquired a new position in ProFrac in the 4th quarter valued at about $956,000. Institutional investors and hedge funds own 12.75% of the company’s stock.

ProFrac Trading Down 3.0 %

NASDAQ:ACDC opened at $7.41 on Thursday. The company has a market capitalization of $1.19 billion, a PE ratio of -7.97 and a beta of 0.93. The company has a quick ratio of 0.71, a current ratio of 1.07 and a debt-to-equity ratio of 0.72. ProFrac has a 52-week low of $6.46 and a 52-week high of $14.23. The stock has a fifty day simple moving average of $8.35 and a 200-day simple moving average of $8.06.

ProFrac (NASDAQ:ACDC) last released its quarterly earnings results on Friday, May 10th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The business had revenue of $581.50 million during the quarter, compared to the consensus estimate of $587.60 million. ProFrac had a negative return on equity of 1.00% and a negative net margin of 5.35%. On average, equities research analysts expect that ProFrac will post 0.58 earnings per share for the current fiscal year.

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.