ProFrac (NASDAQ:ACDC) Hits New 52-Week Low – Time to Sell?

ProFrac Holding Corp. (NASDAQ:ACDC) reached a new 52-week low during trading on Friday . The stock traded as low as $5.12 and last traded at $5.21, with a volume of 890343 shares trading hands. The stock had previously closed at $6.68.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus lifted their price objective on shares of ProFrac from $6.00 to $7.00 and gave the company a “hold” rating in a report on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.40.

ProFrac Stock Down 22.8 %

The firm has a market cap of $826.52 million, a PE ratio of -3.66 and a beta of 1.05. The company has a current ratio of 0.95, a quick ratio of 0.62 and a debt-to-equity ratio of 0.86. The firm has a 50 day moving average price of $7.42 and a 200-day moving average price of $7.39.

Insider Buying and Selling

In other ProFrac news, major shareholder Farris Wilks acquired 338,756 shares of the stock in a transaction dated Wednesday, February 26th. The stock was acquired at an average cost of $6.93 per share, with a total value of $2,347,579.08. Following the transaction, the insider now owns 1,316,534 shares in the company, valued at $9,123,580.62. The trade was a 34.65 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.93% of the stock is owned by insiders.

Institutional Investors Weigh In On ProFrac

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its stake in ProFrac by 1,822.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,785,781 shares of the company’s stock valued at $13,858,000 after purchasing an additional 1,692,908 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of ProFrac by 52.0% in the 4th quarter. Wells Fargo & Company MN now owns 426,898 shares of the company’s stock valued at $3,313,000 after buying an additional 146,028 shares during the last quarter. Arete Wealth Advisors LLC raised its stake in ProFrac by 478.8% during the 3rd quarter. Arete Wealth Advisors LLC now owns 130,447 shares of the company’s stock worth $874,000 after acquiring an additional 107,908 shares in the last quarter. Mariner LLC lifted its position in ProFrac by 184.2% in the fourth quarter. Mariner LLC now owns 146,429 shares of the company’s stock valued at $1,136,000 after acquiring an additional 94,902 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in ProFrac in the fourth quarter valued at $469,000. Institutional investors and hedge funds own 12.75% of the company’s stock.

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.