Marshall Wace LLP Purchases 228,491 Shares of ProFrac Holding Corp. (NASDAQ:ACDC)

Marshall Wace LLP grew its position in ProFrac Holding Corp. (NASDAQ:ACDC) by 1,632.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 242,491 shares of the company’s stock after acquiring an additional 228,491 shares during the period. Marshall Wace LLP owned 0.15% of ProFrac worth $1,797,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ACDC. Delta Investment Management LLC raised its position in ProFrac by 47.8% in the 1st quarter. Delta Investment Management LLC now owns 15,469 shares of the company’s stock valued at $129,000 after purchasing an additional 5,000 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of ProFrac by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 89,071 shares of the company’s stock valued at $660,000 after buying an additional 5,312 shares during the last quarter. nVerses Capital LLC acquired a new position in ProFrac during the 2nd quarter worth about $44,000. Bank of New York Mellon Corp grew its holdings in ProFrac by 12.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 117,720 shares of the company’s stock worth $872,000 after acquiring an additional 12,683 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in ProFrac in the 1st quarter valued at about $357,000. 12.75% of the stock is owned by institutional investors and hedge funds.

ProFrac Price Performance

Shares of ACDC stock opened at $7.39 on Friday. The firm’s 50 day moving average price is $6.76 and its two-hundred day moving average price is $7.68. The stock has a market cap of $1.18 billion, a PE ratio of -7.95 and a beta of 0.81. ProFrac Holding Corp. has a 52-week low of $5.59 and a 52-week high of $10.14. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.64 and a current ratio of 1.01.

ProFrac (NASDAQ:ACDC) last posted its quarterly earnings results on Friday, August 9th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.12). ProFrac had a negative return on equity of 2.30% and a negative net margin of 8.58%. The company had revenue of $579.40 million during the quarter, compared to the consensus estimate of $624.64 million. As a group, analysts forecast that ProFrac Holding Corp. will post -0.18 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Bank of America decreased their price target on shares of ProFrac from $9.50 to $8.50 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Piper Sandler decreased their price objective on ProFrac from $11.00 to $9.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Finally, Stifel Nicolaus dropped their target price on ProFrac from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, August 12th.

Insider Activity

In other news, major shareholder Holdings Lp Thrc acquired 130,000 shares of ProFrac stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average price of $6.49 per share, with a total value of $843,700.00. Following the purchase, the insider now directly owns 76,800,545 shares of the company’s stock, valued at $498,435,537.05. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased a total of 1,933,600 shares of company stock valued at $12,207,161 in the last ninety days. 2.93% of the stock is owned by insiders.

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.