Barclays PLC Boosts Stock Position in ProFrac Holding Corp. (NASDAQ:ACDC)

Barclays PLC grew its stake in ProFrac Holding Corp. (NASDAQ:ACDCFree Report) by 213.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,215 shares of the company’s stock after purchasing an additional 19,898 shares during the period. Barclays PLC’s holdings in ProFrac were worth $199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in ACDC. Townsquare Capital LLC acquired a new position in ProFrac in the third quarter valued at approximately $87,000. Quantinno Capital Management LP acquired a new position in ProFrac in the third quarter valued at approximately $100,000. Squarepoint Ops LLC acquired a new position in ProFrac in the second quarter valued at approximately $150,000. Point72 Asset Management L.P. acquired a new position in ProFrac in the second quarter valued at approximately $365,000. Finally, Verition Fund Management LLC lifted its holdings in ProFrac by 94.0% in the third quarter. Verition Fund Management LLC now owns 83,354 shares of the company’s stock valued at $566,000 after acquiring an additional 40,390 shares during the last quarter. 12.75% of the stock is currently owned by hedge funds and other institutional investors.

ProFrac Trading Up 1.2 %

Shares of ACDC stock opened at $9.02 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.62 and a current ratio of 0.95. The stock has a market capitalization of $1.44 billion, a P/E ratio of -6.40 and a beta of 1.20. The company has a 50 day moving average price of $7.87 and a 200 day moving average price of $7.23. ProFrac Holding Corp. has a fifty-two week low of $5.16 and a fifty-two week high of $9.75.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Morgan Stanley cut ProFrac from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $7.00 to $6.50 in a report on Thursday, October 17th. Stifel Nicolaus decreased their price objective on ProFrac from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Monday, January 6th. Bank of America restated a “hold” rating and set a $7.50 price target on shares of ProFrac in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. downgraded ProFrac from a “neutral” rating to an “underweight” rating and set a $7.00 target price for the company. in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.20.

Get Our Latest Stock Report on ACDC

About ProFrac

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for ProFrac (NASDAQ:ACDC)

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