2 weeks Ago By ABMN Staff
ProFrac Holding Corp. ( NASDAQ:ACDC – Get Free Report ) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 7,370,000 shares, an increase of 20.
2% from the August 31st total of 6,130,000 shares. Based on an average daily volume of 843,000 shares, the short-interest ratio is presently 8.7 days.
Analysts Set New Price Targets A number of brokerages have recently commented on ACDC. Piper Sandler reduced their target price on shares of ProFrac from $11.00 to $9.
00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Bank of America reduced their price objective on ProFrac from $9.50 to $8.
50 and set a “neutral” rating on the stock in a report on Monday, July 15th. Finally, Stifel Nicolaus decreased their target price on ProFrac from $10.00 to $7.
00 and set a “buy” rating for the company in a research report on Monday, August 12th. View Our Latest Stock Analysis on ACDC ProFrac Price Performance ProFrac ( NASDAQ:ACDC – Get Free Report ) last posted its earnings results on Friday, August 9th. The company reported $0.
02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12).
ProFrac had a negative return on equity of 2.30% and a negative net margin of 8.58%.
The company had revenue of $579.40 million for the quarter, compared to analysts’ expectations of $624.64 million.
Equities analysts predict that ProFrac will post -0.18 earnings per share for the current fiscal year. Insiders Place Their Bets In related news, major shareholder Holdings Lp Thrc bought 353,635 shares of the stock in a transaction dated Thursday, September 12th.
The stock was purchased at an average cost of $6.17 per share, with a total value of $2,181,927.95.
Following the completion of the purchase, the insider now owns 79,197,549 shares of the company’s stock, valued at $488,648,877.33. The transaction was disclosed in a legal filing with the SEC, which is available at this link .
Insiders have acquired a total of 1,933,600 shares of company stock worth $12,207,161 over the last quarter. Company insiders own 2.93% of the company’s stock.
Institutional Investors Weigh In On ProFrac Institutional investors have recently added to or reduced their stakes in the stock. First Financial Bankshares Inc bought a new stake in shares of ProFrac in the 4th quarter valued at about $8,580,000. Marshall Wace LLP lifted its position in ProFrac by 1,632.
1% during the second quarter. Marshall Wace LLP now owns 242,491 shares of the company’s stock valued at $1,797,000 after acquiring an additional 228,491 shares during the last quarter. American Century Companies Inc.
boosted its stake in ProFrac by 72.0% in the second quarter. American Century Companies Inc.
now owns 315,689 shares of the company’s stock valued at $2,339,000 after acquiring an additional 132,108 shares in the last quarter. CastleKnight Management LP purchased a new position in ProFrac in the fourth quarter worth $956,000. Finally, Point72 Asset Management L.
P. acquired a new position in shares of ProFrac during the second quarter worth $365,000. Institutional investors own 12.
75% of the company’s stock. ProFrac Company Profile ( Get 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. Featured Stories Receive News & Ratings for ProFrac Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ProFrac and related companies with MarketBeat.
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