Farris Wilks Purchases 338,756 Shares of ProFrac Holding Corp. (NASDAQ:ACDC) Stock

ProFrac Holding Corp. (NASDAQ:ACDC) major shareholder Farris Wilks bought 338,756 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was bought at an average price of $6.93 per share, for a total transaction of $2,347,579.08. Following the acquisition, the insider now directly owns 1,316,534 shares of the company’s stock, valued at $9,123,580.62. The trade was a 34.65 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

ProFrac Trading Up 0.3 %

NASDAQ:ACDC opened at $7.19 on Friday. ProFrac Holding Corp. has a 52 week low of $5.16 and a 52 week high of $9.75. The firm has a 50 day moving average of $7.82 and a 200 day moving average of $7.24. The company has a quick ratio of 0.62, a current ratio of 0.95 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -5.10 and a beta of 1.19.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in ProFrac by 110.7% during the fourth quarter. GAMMA Investing LLC now owns 5,749 shares of the company’s stock valued at $45,000 after buying an additional 3,021 shares during the period. Fortitude Family Office LLC purchased a new position in ProFrac during the fourth quarter worth about $57,000. AlphaQuest LLC purchased a new position in ProFrac during the fourth quarter worth about $66,000. Catalina Capital Group LLC purchased a new position in ProFrac during the fourth quarter worth about $79,000. Finally, Stratos Investment Management LLC purchased a new position in ProFrac during the fourth quarter worth about $84,000. Hedge funds and other institutional investors own 12.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ACDC shares. JPMorgan Chase & Co. cut 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. Stifel Nicolaus cut their price target on ProFrac from $7.00 to $6.00 and set a “hold” rating for the company in a report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $7.20.

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.