Empowered Funds LLC Has $4.52 Million Stock Position in ProFrac Holding Corp. (NASDAQ:ACDC)

Empowered Funds LLC lifted its stake in ProFrac Holding Corp. (NASDAQ:ACDC) by 5.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 582,767 shares of the company’s stock after purchasing an additional 28,370 shares during the period. Empowered Funds LLC owned 0.36% of ProFrac worth $4,522,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Barclays PLC boosted its holdings in ProFrac by 213.6% during the third quarter. Barclays PLC now owns 29,215 shares of the company’s stock worth $199,000 after buying an additional 19,898 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in ProFrac by 114.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 831,320 shares of the company’s stock worth $5,645,000 after acquiring an additional 443,530 shares during the last quarter. Arete Wealth Advisors LLC boosted its stake in ProFrac by 478.8% during the 3rd quarter. Arete Wealth Advisors LLC now owns 130,447 shares of the company’s stock worth $874,000 after acquiring an additional 107,908 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in ProFrac by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 175,777 shares of the company’s stock valued at $1,194,000 after purchasing an additional 6,063 shares during the period. Finally, Pinnacle Associates Ltd. increased its stake in ProFrac by 39.8% in the third quarter. Pinnacle Associates Ltd. now owns 116,405 shares of the company’s stock valued at $790,000 after purchasing an additional 33,139 shares in the last quarter. 12.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ACDC has been the subject of several research analyst reports. Morgan Stanley lowered shares of ProFrac from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $7.00 to $6.50 in a report on Thursday, October 17th. Stifel Nicolaus decreased their target price on ProFrac from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. downgraded ProFrac from a “neutral” rating to an “underweight” rating and set a $7.00 price target for the company. in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $7.20.

ProFrac Trading Up 0.8 %

Shares of NASDAQ:ACDC opened at $7.93 on Wednesday. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -5.62 and a beta of 1.19. The company has a quick ratio of 0.62, a current ratio of 0.95 and a debt-to-equity ratio of 0.86. ProFrac Holding Corp. has a 12 month low of $5.16 and a 12 month high of $9.75. The company’s fifty day simple moving average is $7.86 and its 200 day simple moving average is $7.22.

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.