Dimensional Fund Advisors LP Purchases 5,312 Shares of ProFrac Holding Corp. (NASDAQ:ACDC)

Dimensional Fund Advisors LP boosted its holdings in shares of ProFrac Holding Corp. (NASDAQ:ACDC) by 6.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,071 shares of the company’s stock after purchasing an additional 5,312 shares during the quarter. Dimensional Fund Advisors LP owned about 0.06% of ProFrac worth $660,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ACDC. Susquehanna Fundamental Investments LLC purchased a new stake in shares of ProFrac in the first quarter valued at $357,000. Delta Investment Management LLC raised its stake in shares of ProFrac by 47.8% in the first quarter. Delta Investment Management LLC now owns 15,469 shares of the company’s stock valued at $129,000 after acquiring an additional 5,000 shares during the period. Virtu Financial LLC purchased a new stake in shares of ProFrac in the first quarter valued at $401,000. Bank of New York Mellon Corp raised its stake in shares of ProFrac by 12.1% in the second quarter. Bank of New York Mellon Corp now owns 117,720 shares of the company’s stock valued at $872,000 after acquiring an additional 12,683 shares during the period. Finally, nVerses Capital LLC bought a new position in shares of ProFrac in the second quarter worth about $44,000. Hedge funds and other institutional investors own 12.75% of the company’s stock.

Insider Activity at ProFrac

In related news, major shareholder Holdings Lp Thrc purchased 130,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of $6.49 per share, with a total value of $843,700.00. Following the purchase, the insider now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have purchased 1,933,600 shares of company stock valued at $12,207,161. 2.93% of the stock is owned by company insiders.

ProFrac Price Performance

NASDAQ:ACDC opened at $7.31 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.01 and a quick ratio of 0.64. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -7.86 and a beta of 0.81. The company has a 50 day moving average price of $6.65 and a 200-day moving average price of $7.64. ProFrac Holding Corp. has a 1-year low of $5.59 and a 1-year high of $10.14.

ProFrac (NASDAQ:ACDC) last released its quarterly earnings results on Friday, August 9th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). ProFrac had a negative net margin of 8.58% and a negative return on equity of 2.30%. The company had revenue of $579.40 million during the quarter, compared to analyst estimates of $624.64 million. Equities research analysts forecast that ProFrac Holding Corp. will post -0.13 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.