ProFrac (NASDAQ:ACDC) Shares Down 6.6% – Should You Sell?

ProFrac Holding Corp. (NASDAQ:ACDC) shares dropped 6.6% on Monday . The company traded as low as $4.64 and last traded at $4.58. Approximately 51,264 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 723,061 shares. The stock had previously closed at $4.90.

Analyst Ratings Changes

Separately, Stifel Nicolaus decreased their price target on shares of ProFrac from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Tuesday, April 15th. 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. According to data from MarketBeat, ProFrac has an average rating of “Hold” and a consensus target price of $7.20.

ProFrac Trading Down 6.3 %

The firm’s 50-day moving average price is $6.73 and its 200-day moving average price is $7.22. The company has a market cap of $735.22 million, a P/E ratio of -3.26 and a beta of 1.05. The company has a quick ratio of 0.62, a current ratio of 0.95 and a debt-to-equity ratio of 0.86.

Insider Transactions at ProFrac

In related news, major shareholder Farris Wilks acquired 338,756 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were acquired at an average price of $6.93 per share, with a total value of $2,347,579.08. Following the acquisition, the insider now owns 1,316,534 shares of the company’s stock, valued at approximately $9,123,580.62. This trade represents a 34.65 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.93% of the company’s stock.

Institutional Investors Weigh In On ProFrac

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in ProFrac by 110.7% in the 4th quarter. GAMMA Investing LLC now owns 5,749 shares of the company’s stock worth $45,000 after purchasing an additional 3,021 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in shares of ProFrac in the 4th quarter valued at about $57,000. AlphaQuest LLC bought a new stake in shares of ProFrac during the 4th quarter valued at about $66,000. Exchange Traded Concepts LLC grew its holdings in shares of ProFrac by 1,258.8% during the first quarter. Exchange Traded Concepts LLC now owns 10,164 shares of the company’s stock worth $77,000 after purchasing an additional 9,416 shares in the last quarter. Finally, Catalina Capital Group LLC bought a new position in shares of ProFrac in the fourth quarter worth approximately $79,000. 12.75% of the stock is owned by hedge funds and other institutional investors.

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.