7,389 Shares in ProFrac Holding Corp. (NASDAQ:ACDC) Acquired by Fortitude Family Office LLC

Fortitude Family Office LLC bought a new position in shares of ProFrac Holding Corp. (NASDAQ:ACDC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,389 shares of the company’s stock, valued at approximately $57,000.

Other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its stake in ProFrac by 72.0% in the second quarter. American Century Companies Inc. now owns 315,689 shares of the company’s stock valued at $2,339,000 after buying an additional 132,108 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in ProFrac by 114.4% in 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. Marshall Wace LLP lifted its stake in ProFrac by 1,632.1% in the second quarter. Marshall Wace LLP now owns 242,491 shares of the company’s stock valued at $1,797,000 after buying an additional 228,491 shares during the last quarter. Arete Wealth Advisors LLC lifted its stake in ProFrac by 478.8% in 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, Empowered Funds LLC purchased a new stake in ProFrac in the third quarter valued at approximately $3,764,000. Hedge funds and other institutional investors own 12.75% of the company’s stock.

Analyst Ratings Changes

ACDC has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered 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. Bank of America reissued a “hold” rating and issued a $7.50 target price on shares of ProFrac in a report on Monday, October 14th. Morgan Stanley lowered ProFrac from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $7.00 to $6.50 in a report on Thursday, October 17th. Finally, Stifel Nicolaus dropped their target price on ProFrac from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Monday, January 6th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, ProFrac currently has a consensus rating of “Hold” and a consensus target price of $7.20.

ProFrac Trading Up 2.1 %

Shares of ACDC stock opened at $7.79 on Friday. The business’s fifty day moving average price is $7.59 and its 200 day moving average price is $7.16. ProFrac Holding Corp. has a 1-year low of $5.16 and a 1-year high of $9.75. The firm has a market capitalization of $1.25 billion, a PE ratio of -5.52 and a beta of 1.20. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.95 and a quick ratio of 0.62.

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.