ProFrac (NASDAQ:ACDC) Given New $7.00 Price Target at Stifel Nicolaus

ProFrac (NASDAQ:ACDC) had its price target lifted by Stifel Nicolaus from $6.00 to $7.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a hold rating on the stock.

Separately, JPMorgan Chase & Co. lowered shares of ProFrac from a “neutral” rating to an “underweight” rating and set a $7.00 target price on the stock. in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $7.40.

ProFrac Stock Performance

NASDAQ ACDC opened at $7.38 on Monday. 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 company has a fifty day simple moving average of $7.75 and a 200 day simple moving average of $7.25. ProFrac has a 12-month low of $5.16 and a 12-month high of $9.75. The company has a market cap of $1.18 billion, a P/E ratio of -5.23 and a beta of 1.18.

Insider Buying and Selling at ProFrac

In other news, major shareholder Farris Wilks acquired 338,756 shares of ProFrac stock in a transaction on Wednesday, February 26th. The stock was acquired at an average cost of $6.93 per share, with a total value of $2,347,579.08. Following the completion of the acquisition, the insider now owns 1,316,534 shares in the company, valued at approximately $9,123,580.62. This trade represents a 34.65 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.93% of the company’s stock.

Institutional Investors Weigh In On ProFrac

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACDC. GAMMA Investing LLC increased its stake in shares of ProFrac by 110.7% in the fourth quarter. GAMMA Investing LLC now owns 5,749 shares of the company’s stock worth $45,000 after purchasing an additional 3,021 shares in the last quarter. Fortitude Family Office LLC purchased a new position in ProFrac in the 4th quarter valued at approximately $57,000. AlphaQuest LLC purchased a new position in ProFrac in the 4th quarter valued at approximately $66,000. Catalina Capital Group LLC bought a new stake in ProFrac during the 4th quarter valued at $79,000. Finally, Stratos Investment Management LLC purchased a new stake in shares of ProFrac during the fourth quarter worth $84,000. 12.75% of the stock is currently owned by institutional investors.

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.