ProFrac Holding Corp. $ACDC Shares Purchased by First Financial Bankshares Inc

First Financial Bankshares Inc raised its holdings in ProFrac Holding Corp. (NASDAQ:ACDC) by 30.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,204,795 shares of the company’s stock after buying an additional 973,062 shares during the quarter. First Financial Bankshares Inc’s holdings in ProFrac were worth $15,558,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ACDC. Bridgeway Capital Management LLC boosted its position in shares of ProFrac by 2.8% in the second quarter. Bridgeway Capital Management LLC now owns 1,199,562 shares of the company’s stock worth $9,309,000 after acquiring an additional 32,382 shares during the last quarter. Empowered Funds LLC raised its stake in ProFrac by 5.4% during the second quarter. Empowered Funds LLC now owns 627,062 shares of the company’s stock worth $4,866,000 after purchasing an additional 32,382 shares during the period. American Century Companies Inc. boosted its holdings in shares of ProFrac by 5.9% in the 2nd quarter. American Century Companies Inc. now owns 618,194 shares of the company’s stock valued at $4,797,000 after purchasing an additional 34,374 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of ProFrac by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 427,063 shares of the company’s stock valued at $1,580,000 after purchasing an additional 3,003 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of ProFrac by 125.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 228,477 shares of the company’s stock valued at $845,000 after buying an additional 127,286 shares during the period. 12.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Zacks Research raised ProFrac from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 21st. Morgan Stanley restated an “underweight” rating and issued a $4.00 price objective on shares of ProFrac in a report on Wednesday, January 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProFrac in a research note on Monday, December 29th. Three analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $5.38.

ProFrac Price Performance

Shares of NASDAQ ACDC opened at $5.11 on Tuesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.91 and a quick ratio of 0.63. ProFrac Holding Corp. has a 1-year low of $3.08 and a 1-year high of $10.70. The company has a market capitalization of $924.25 million, a price-to-earnings ratio of -2.49 and a beta of 1.69. The business has a 50-day moving average of $4.65 and a 200-day moving average of $4.28.

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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.