Squarepoint Ops LLC Makes New Investment in ProFrac Holding Corp. (NASDAQ:ACDC)

Squarepoint Ops LLC purchased a new stake in shares of ProFrac Holding Corp. (NASDAQ:ACDC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 20,297 shares of the company’s stock, valued at approximately $150,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. nVerses Capital LLC bought a new stake in shares of ProFrac during the second quarter valued at approximately $44,000. Delta Investment Management LLC raised its stake in shares of ProFrac by 47.8% during 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 in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of ProFrac during the first quarter valued at approximately $357,000. Virtu Financial LLC bought a new stake in shares of ProFrac during the first quarter valued at approximately $401,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of ProFrac by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 89,071 shares of the company’s stock valued at $660,000 after acquiring an additional 5,312 shares in the last quarter. Institutional investors own 12.75% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Holdings Lp Thrc acquired 130,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $6.49 per share, for a total transaction of $843,700.00. Following the completion of the transaction, the insider now owns 76,800,545 shares in the company, valued at approximately $498,435,537.05. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders bought 1,933,600 shares of company stock worth $12,207,161. Company insiders own 2.93% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Bank of America cut their price objective 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. Piper Sandler cut their price objective on shares of ProFrac from $11.00 to $9.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Finally, Stifel Nicolaus lowered 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.

ProFrac Price Performance

Shares of ACDC opened at $7.31 on Monday. The firm has a market capitalization of $1.17 billion, a PE ratio of -7.86 and a beta of 0.81. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.01 and a quick ratio of 0.64. ProFrac Holding Corp. has a 1-year low of $5.59 and a 1-year high of $10.14. The company’s fifty day moving average price is $6.65 and its 200-day moving average price is $7.64.

ProFrac (NASDAQ:ACDC) last posted its 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). The business had revenue of $579.40 million for the quarter, compared to analyst estimates of $624.64 million. ProFrac had a negative net margin of 8.58% and a negative return on equity of 2.30%. On average, equities research analysts predict that ProFrac Holding Corp. will post -0.13 EPS for the current year.

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.