ProFrac Holding Corp. (NASDAQ:ACDC) Shares Bought by Barclays PLC

Barclays PLC boosted its position in shares of ProFrac Holding Corp. (NASDAQ:ACDC) by 213.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 29,215 shares of the company’s stock after acquiring an additional 19,898 shares during the quarter. Barclays PLC’s holdings in ProFrac were worth $199,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ACDC. Townsquare Capital LLC acquired a new position in shares of ProFrac in the 3rd quarter valued at about $87,000. Quantinno Capital Management LP acquired a new position in shares of ProFrac in the 3rd quarter valued at about $100,000. Squarepoint Ops LLC acquired a new position in shares of ProFrac in the 2nd quarter valued at about $150,000. Point72 Asset Management L.P. acquired a new position in shares of ProFrac in the 2nd quarter valued at about $365,000. Finally, Verition Fund Management LLC lifted its holdings in shares of ProFrac by 94.0% in the 3rd quarter. Verition Fund Management LLC now owns 83,354 shares of the company’s stock valued at $566,000 after buying an additional 40,390 shares during the period. Institutional investors and hedge funds own 12.75% of the company’s stock.

ProFrac Price Performance

Shares of ProFrac stock opened at $9.02 on Wednesday. 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 twelve month low of $5.16 and a twelve month high of $9.75. The business has a 50-day moving average price of $7.87 and a 200 day moving average price of $7.23. The firm has a market cap of $1.44 billion, a PE ratio of -6.40 and a beta of 1.20.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ACDC shares. Bank of America reissued a “hold” rating and issued a $7.50 price objective on shares of ProFrac in a report on Monday, October 14th. Morgan Stanley cut ProFrac from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $7.00 to $6.50 in a report on Thursday, October 17th. Stifel Nicolaus cut their price target 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. lowered ProFrac from a “neutral” rating to an “underweight” rating and set a $7.00 price target for the company. in a research note on Friday, December 6th. Two equities 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.20.

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.