Insider Buying: ProFrac Holding Corp. (NASDAQ:ACDC) Major Shareholder Purchases $304,553.52 in Stock

ProFrac Holding Corp. (NASDAQ:ACDC) major shareholder Holdings Lp Thrc bought 46,999 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were acquired at an average price of $6.48 per share, for a total transaction of $304,553.52. Following the completion of the purchase, the insider now owns 76,867,415 shares in the company, valued at approximately $498,100,849.20. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Holdings Lp Thrc also recently made the following trade(s):

• On Thursday, August 15th, Holdings Lp Thrc bought 130,000 shares of ProFrac stock. The stock was acquired at an average cost of $6.49 per share, with a total value of $843,700.00.
• On Tuesday, August 13th, Holdings Lp Thrc purchased 411,383 shares of ProFrac stock. The stock was bought at an average price of $6.03 per share, with a total value of $2,480,639.49.
• On Tuesday, May 28th, Holdings Lp Thrc bought 440,217 shares of ProFrac stock. The stock was bought at an average price of $9.49 per share, for a total transaction of $4,177,659.33.

ProFrac Price Performance

NASDAQ ACDC opened at $6.50 on Friday. The business’s fifty day moving average is $7.36 and its 200 day moving average is $7.90. ProFrac Holding Corp. has a fifty-two week low of $5.59 and a fifty-two week high of $11.94. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.64 and a current ratio of 1.01. The company has a market capitalization of $1.04 billion, a PE ratio of -6.99 and a beta of 0.85.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. nVerses Capital LLC bought a new stake in ProFrac during the 2nd quarter worth approximately $44,000. Tower Research Capital LLC TRC increased its stake in shares of ProFrac by 42.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,827 shares of the company’s stock worth $58,000 after purchasing an additional 2,034 shares in the last quarter. Delta Investment Management LLC raised its position in shares of ProFrac by 47.8% during 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 period. Squarepoint Ops LLC purchased a new position in shares of ProFrac during the 2nd quarter valued at $150,000. Finally, Jump Financial LLC bought a new position in ProFrac in the 4th quarter worth $179,000. 12.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.