Savant Capital LLC Buys New Position in ProFrac Holding Corp. (NASDAQ:ACDC)

Savant Capital LLC bought a new stake in ProFrac Holding Corp. (NASDAQ:ACDC) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 18,946 shares of the company’s stock, valued at approximately $147,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pinnacle Associates Ltd. increased its position in shares of ProFrac by 39.8% during the 3rd quarter. Pinnacle Associates Ltd. now owns 116,405 shares of the company’s stock worth $790,000 after purchasing an additional 33,139 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of ProFrac during the 3rd quarter worth approximately $3,764,000. Charles Schwab Investment Management Inc. increased its holdings in shares of ProFrac by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 175,777 shares of the company’s stock worth $1,194,000 after acquiring an additional 6,063 shares during the last quarter. Townsquare Capital LLC bought a new stake in ProFrac in the 3rd quarter valued at $87,000. Finally, Verition Fund Management LLC boosted its stake in 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 purchasing an additional 40,390 shares during the period. Institutional investors and hedge funds own 12.75% of the company’s stock.

ProFrac Stock Performance

NASDAQ:ACDC opened at $7.68 on Thursday. The stock has a fifty day moving average price of $7.84 and a 200-day moving average price of $7.21. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -5.45 and a beta of 1.19. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.62 and a current ratio of 0.95. ProFrac Holding Corp. has a fifty-two week low of $5.16 and a fifty-two week high of $9.75.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ACDC shares. Stifel Nicolaus reduced 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. 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 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.