Private Advisor Group LLC Invests $112,000 in ProFrac Holding Corp. (NASDAQ:ACDC)

Private Advisor Group LLC acquired a new position in ProFrac Holding Corp. (NASDAQ:ACDC) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 14,428 shares of the company’s stock, valued at approximately $112,000.

Other hedge funds have also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC boosted its stake in ProFrac by 114.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 831,320 shares of the company’s stock valued at $5,645,000 after buying an additional 443,530 shares during the last quarter. Empowered Funds LLC boosted its stake in ProFrac by 5.1% during the fourth quarter. Empowered Funds LLC now owns 582,767 shares of the company’s stock valued at $4,522,000 after buying an additional 28,370 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in ProFrac by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 175,777 shares of the company’s stock valued at $1,194,000 after buying an additional 6,063 shares during the last quarter. Arete Wealth Advisors LLC boosted its stake in ProFrac by 478.8% during the third quarter. Arete Wealth Advisors LLC now owns 130,447 shares of the company’s stock valued at $874,000 after buying an additional 107,908 shares during the last quarter. Finally, Verition Fund Management LLC boosted its stake in ProFrac by 94.0% during the third 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 last quarter. Institutional investors own 12.75% of the company’s stock.

ProFrac Trading Up 7.1 %

Shares of NASDAQ ACDC opened at $7.05 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.62 and a current ratio of 0.95. The business’s 50 day moving average price is $7.75 and its 200-day moving average price is $7.24. ProFrac Holding Corp. has a fifty-two week low of $5.16 and a fifty-two week high of $9.75. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -5.00 and a beta of 1.18.

Analysts Set New Price Targets

ACDC has been the subject of a number of research reports. 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. Stifel Nicolaus lowered their price objective on ProFrac from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $7.20.

Insider Transactions at ProFrac

In other news, major shareholder Farris Wilks acquired 338,756 shares of ProFrac 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 acquisition, the insider now directly 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 purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 2.93% of the company’s stock.

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.