Tower Research Capital LLC TRC Grows Holdings in ProFrac Holding Corp. (NASDAQ:ACDC)

Tower Research Capital LLC TRC lifted its position in shares of ProFrac Holding Corp. (NASDAQ:ACDC) by 42.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,827 shares of the company’s stock after buying an additional 2,034 shares during the quarter. Tower Research Capital LLC TRC’s holdings in ProFrac were worth $58,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Russell Investments Group Ltd. grew its holdings in ProFrac by 712.8% in the fourth quarter. Russell Investments Group Ltd. now owns 149,100 shares of the company’s stock valued at $1,264,000 after purchasing an additional 130,757 shares during the period. Quest Partners LLC purchased a new stake in shares of ProFrac during the 4th quarter valued at $356,000. Pinnacle Associates Ltd. increased its holdings in shares of ProFrac by 34.9% during the 4th quarter. Pinnacle Associates Ltd. now owns 116,405 shares of the company’s stock worth $987,000 after buying an additional 30,085 shares during the last quarter. Jump Financial LLC purchased a new position in shares of ProFrac in the 4th quarter worth $179,000. Finally, New York State Common Retirement Fund boosted its holdings in ProFrac by 56.4% in the third quarter. New York State Common Retirement Fund now owns 48,661 shares of the company’s stock valued at $529,000 after acquiring an additional 17,539 shares during the last quarter. Institutional investors and hedge funds own 12.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Stifel Nicolaus reduced their price objective on ProFrac from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, March 14th. Bank of America boosted their price objective on shares of ProFrac from $8.50 to $9.50 and gave the stock a “neutral” rating in a research note on Monday, April 15th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $12.50.

ProFrac Stock Down 2.7 %

Shares of ACDC traded down $0.22 during mid-day trading on Monday, reaching $8.01. 564,474 shares of the stock traded hands, compared to its average volume of 892,520. The stock has a fifty day simple moving average of $8.13 and a 200 day simple moving average of $8.15. ProFrac Holding Corp. has a 12-month low of $6.46 and a 12-month high of $14.32. The company has a quick ratio of 0.62, a current ratio of 0.98 and a debt-to-equity ratio of 0.74. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -15.11 and a beta of 0.71.

ProFrac (NASDAQ:ACDC) last released its quarterly earnings results on Friday, March 15th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.23). The firm had revenue of $489.10 million for the quarter, compared to analysts’ expectations of $594.17 million. ProFrac had a positive return on equity of 3.04% and a negative net margin of 3.98%. Sell-side analysts expect that ProFrac Holding Corp. will post 0.84 EPS for the current fiscal year.

About ProFrac

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.