14,717 Shares in ProFrac Holding Corp. (NASDAQ:ACDC) Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP bought a new stake in shares of ProFrac Holding Corp. (NASDAQ:ACDC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 14,717 shares of the company’s stock, valued at approximately $100,000.

Several other large investors have also recently made changes to their positions in the business. nVerses Capital LLC bought a new position in ProFrac during the 2nd quarter valued at approximately $44,000. Townsquare Capital LLC bought a new position in shares of ProFrac during the third quarter valued at $87,000. Squarepoint Ops LLC purchased a new position in shares of ProFrac in the 2nd quarter worth about $150,000. Point72 Asset Management L.P. bought a new position in ProFrac in the 2nd quarter worth about $365,000. Finally, Verition Fund Management LLC grew its position in ProFrac by 94.0% during the 3rd quarter. Verition Fund Management LLC now owns 83,354 shares of the company’s stock valued at $566,000 after purchasing an additional 40,390 shares during the last quarter. 12.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ACDC shares. Morgan Stanley downgraded shares of ProFrac from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $7.00 to $6.50 in a research note on Thursday, October 17th. Stifel Nicolaus cut ProFrac from a “buy” rating to a “hold” rating and set a $7.00 price objective on the stock. in a research report on Friday, October 11th. 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. Finally, JPMorgan Chase & Co. downgraded ProFrac from a “neutral” rating to an “underweight” rating and set a $7.00 price target on the stock. in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, ProFrac currently has a consensus rating of “Hold” and an average price target of $7.40.

ProFrac Trading Up 1.5 %

NASDAQ:ACDC opened at $7.50 on Wednesday. The company has a 50 day simple moving average of $7.16 and a two-hundred day simple moving average of $7.24. The company has a market cap of $1.20 billion, a PE ratio of -5.32 and a beta of 1.15. The company has a current ratio of 0.95, a quick ratio of 0.62 and a debt-to-equity ratio of 0.86. ProFrac Holding Corp. has a 12 month low of $5.16 and a 12 month high of $9.75.

ProFrac 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.