Empowered Funds LLC Has $4.52 Million Stock Position in ProFrac Holding Corp. (NASDAQ:ACDC)

Empowered Funds LLC grew its holdings in ProFrac Holding Corp. (NASDAQ:ACDC) by 5.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 582,767 shares of the company’s stock after acquiring an additional 28,370 shares during the quarter. Empowered Funds LLC’s holdings in ProFrac were worth $4,522,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC increased its stake in ProFrac by 114.4% in the 3rd 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. Arete Wealth Advisors LLC grew its holdings in shares of ProFrac by 478.8% in the 3rd quarter. Arete Wealth Advisors LLC now owns 130,447 shares of the company’s stock valued at $874,000 after acquiring an additional 107,908 shares in the last quarter. Bleakley Financial Group LLC acquired a new stake in shares of ProFrac in the fourth quarter valued at about $455,000. Verition Fund Management LLC raised its holdings in ProFrac by 94.0% during the third quarter. Verition Fund Management LLC now owns 83,354 shares of the company’s stock worth $566,000 after acquiring an additional 40,390 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its position in ProFrac by 39.8% during the third quarter. Pinnacle Associates Ltd. now owns 116,405 shares of the company’s stock valued at $790,000 after purchasing an additional 33,139 shares during the last quarter. Institutional investors own 12.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Morgan Stanley lowered ProFrac from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $7.00 to $6.50 in a research report on Thursday, October 17th. Stifel Nicolaus lowered their target price on shares of ProFrac from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. cut shares of ProFrac from a “neutral” rating to an “underweight” rating and set a $7.00 price target for the company. in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.20.

ProFrac Stock Performance

ACDC opened at $7.93 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.95 and a debt-to-equity ratio of 0.86. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -5.62 and a beta of 1.19. ProFrac Holding Corp. has a 12-month low of $5.16 and a 12-month high of $9.75. The business has a 50 day moving average of $7.86 and a 200-day moving average of $7.22.

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.