ProFrac (NASDAQ:ACDC) Sets New 12-Month Low – What’s Next?

ProFrac Holding Corp. (NASDAQ:ACDC) shares hit a new 52-week low during trading on Friday . The stock traded as low as $5.12 and last traded at $5.21, with a volume of 890343 shares traded. The stock had previously closed at $6.68.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus raised their price objective on ProFrac from $6.00 to $7.00 and gave the company a “hold” rating in a report on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.40.

ProFrac Trading Down 22.8 %

The company has a current ratio of 0.95, a quick ratio of 0.62 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $826.52 million, a price-to-earnings ratio of -3.66 and a beta of 1.05. The company has a fifty day moving average price of $7.42 and a two-hundred day moving average price of $7.39.

Insiders Place Their Bets

In other news, major shareholder Farris Wilks purchased 338,756 shares of the stock in a transaction dated Wednesday, February 26th. The shares were purchased at an average price of $6.93 per share, with a total value of $2,347,579.08. Following the transaction, the insider now owns 1,316,534 shares in the company, valued at $9,123,580.62. The trade was a 34.65 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ProFrac

A number of institutional investors have recently bought and sold shares of ACDC. GAMMA Investing LLC increased its holdings in shares of ProFrac by 110.7% during the 4th quarter. GAMMA Investing LLC now owns 5,749 shares of the company’s stock worth $45,000 after buying an additional 3,021 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in ProFrac during the fourth quarter worth $57,000. AlphaQuest LLC acquired a new position in shares of ProFrac in the 4th quarter valued at $66,000. Catalina Capital Group LLC purchased a new position in shares of ProFrac during the 4th quarter worth $79,000. Finally, Stratos Investment Management LLC acquired a new stake in shares of ProFrac during the 4th quarter worth about $84,000. 12.75% of the stock is 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.