ProFrac (NASDAQ:ACDC) CEO Matthew Wilks Acquires 22,481 Shares

ProFrac Holding Corp. (NASDAQ:ACDC) CEO Matthew Wilks purchased 22,481 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were acquired at an average price of $5.44 per share, with a total value of $122,296.64. Following the purchase, the chief executive officer directly owned 502,097 shares in the company, valued at $2,731,407.68. This represents a 4.69% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Matthew Wilks also recently made the following trade(s):

• On Monday, August 10th, Matthew Wilks acquired 57,519 shares of ProFrac stock. The stock was acquired at an average cost of $4.86 per share, for a total transaction of $279,542.34.

ProFrac Stock Down 2.5%

Shares of NASDAQ ACDC opened at $5.14 on Thursday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.59. The company has a 50-day moving average price of $5.38 and a 200-day moving average price of $5.90. The stock has a market capitalization of $929.93 million, a P/E ratio of -2.21 and a beta of 1.46. ProFrac Holding Corp. has a 1 year low of $3.08 and a 1 year high of $8.22.

Analysts Set New Price Targets

A number of analysts have commented on ACDC shares. Wall Street Zen lowered ProFrac from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Morgan Stanley set a $5.00 price target on ProFrac in a report on Wednesday, July 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of ProFrac in a research report on Wednesday, June 24th. Finally, Piper Sandler lifted their price objective on shares of ProFrac from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Monday, May 18th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ProFrac presently has a consensus rating of “Reduce” and a consensus target price of $5.50.

Hedge Funds Weigh In On ProFrac

Institutional investors have recently modified their holdings of the business. UBS Group AG grew its position in ProFrac by 1,862.8% during the third quarter. UBS Group AG now owns 705,568 shares of the company’s stock valued at $2,611,000 after buying an additional 669,621 shares during the period. AQR Capital Management LLC raised its position in ProFrac by 61.7% in the fourth quarter. AQR Capital Management LLC now owns 1,638,822 shares of the company’s stock worth $6,375,000 after acquiring an additional 625,596 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in ProFrac by 27.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,484,760 shares of the company’s stock valued at $5,494,000 after acquiring an additional 322,860 shares during the last quarter. HRT Financial LP grew its position in shares of ProFrac by 409.5% during the 4th quarter. HRT Financial LP now owns 382,837 shares of the company’s stock valued at $1,489,000 after acquiring an additional 307,696 shares during the period. Finally, Walleye Capital LLC increased its stake in shares of ProFrac by 328.6% during the 1st quarter. Walleye Capital LLC now owns 347,911 shares of the company’s stock worth $2,157,000 after purchasing an additional 266,742 shares during the last quarter. 12.75% of the stock is owned by institutional investors.

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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.