ProFrac (NASDAQ:ACDC) Stock Price Down 16.1% – Time to Sell?

ProFrac Holding Corp. (NASDAQ:ACDC) shares traded down 16.1% during mid-day trading on Thursday . The company traded as low as $6.99 and last traded at $6.99. 233,981 shares were traded during mid-day trading, a decline of 68% from the average session volume of 721,233 shares. The stock had previously closed at $8.33.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Stifel Nicolaus increased their price target on shares of ProFrac from $6.00 to $7.00 and gave the company a “hold” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. lowered shares of ProFrac from a “neutral” rating to an “underweight” rating and set a $7.00 price target on the stock. in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, ProFrac presently has a consensus rating of “Hold” and a consensus target price of $7.40.

ProFrac Trading Down 22.8 %

The business’s 50-day moving average price is $7.42 and its 200-day moving average price is $7.38. The firm has a market capitalization of $826.52 million, a PE ratio of -3.66 and a beta of 1.18. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.95 and a quick ratio of 0.62.

Insider Buying and Selling at ProFrac

In related news, major shareholder Farris Wilks bought 338,756 shares of the stock in a transaction on Wednesday, February 26th. The shares were bought at an average cost of $6.93 per share, for a total transaction of $2,347,579.08. Following the purchase, the insider now owns 1,316,534 shares of the company’s stock, valued at $9,123,580.62. This trade represents a 34.65 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ProFrac

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quantinno Capital Management LP lifted its stake in shares of ProFrac by 11.3% in the 4th quarter. Quantinno Capital Management LP now owns 16,387 shares of the company’s stock worth $127,000 after acquiring an additional 1,670 shares during the period. Dimensional Fund Advisors LP lifted its position in ProFrac by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 90,939 shares of the company’s stock valued at $706,000 after purchasing an additional 1,860 shares during the period. Geode Capital Management LLC lifted its position in ProFrac by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 591,501 shares of the company’s stock valued at $4,591,000 after purchasing an additional 2,893 shares during the period. GAMMA Investing LLC boosted its holdings in ProFrac by 110.7% in the 4th quarter. GAMMA Investing LLC now owns 5,749 shares of the company’s stock valued at $45,000 after purchasing an additional 3,021 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of ProFrac by 14.4% during the 4th quarter. Barclays PLC now owns 33,409 shares of the company’s stock worth $259,000 after buying an additional 4,194 shares in the last quarter. 12.75% of the stock is currently owned by hedge funds and other institutional investors.

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.