First Financial Bankshares Inc Trims Holdings in ProFrac Holding Corp. $ACDC

First Financial Bankshares Inc trimmed its holdings in shares of ProFrac Holding Corp. (NASDAQ:ACDC) by 7.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,912,053 shares of the company’s stock after selling 292,742 shares during the quarter. First Financial Bankshares Inc’s holdings in ProFrac were worth $15,218,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Empowered Funds LLC lifted its position in shares of ProFrac by 9.6% during the fourth quarter. Empowered Funds LLC now owns 776,893 shares of the company’s stock worth $3,022,000 after purchasing an additional 67,939 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of ProFrac by 37.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 418,120 shares of the company’s stock worth $1,626,000 after purchasing an additional 113,031 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of ProFrac by 37.7% during the fourth quarter. Geode Capital Management LLC now owns 671,705 shares of the company’s stock worth $2,613,000 after purchasing an additional 183,814 shares during the last quarter. Inscription Capital LLC lifted its position in shares of ProFrac by 44.3% during the fourth quarter. Inscription Capital LLC now owns 35,572 shares of the company’s stock worth $138,000 after purchasing an additional 10,919 shares during the last quarter. Finally, Evergreen Capital Management LLC bought a new stake in shares of ProFrac during the fourth quarter worth $145,000. 12.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Piper Sandler lifted their target price on ProFrac from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Monday, May 18th. Wall Street Zen downgraded ProFrac from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProFrac in a research report on Friday, March 27th. UBS Group reiterated a “positive” rating on shares of ProFrac in a research report on Thursday, March 12th. Finally, Morgan Stanley lifted their target price on ProFrac from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $6.17.

ProFrac Stock Performance

Shares of ProFrac stock opened at $7.07 on Friday. The firm has a market cap of $1.28 billion, a P/E ratio of -2.77 and a beta of 1.41. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. ProFrac Holding Corp. has a 12 month low of $3.08 and a 12 month high of $10.70. The stock’s fifty day moving average price is $6.84 and its 200-day moving average price is $5.57.

ProFrac (NASDAQ:ACDC) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.10). The firm had revenue of $449.60 million for the quarter, compared to analysts’ expectations of $426.39 million. ProFrac had a negative net margin of 24.25% and a negative return on equity of 44.39%. On average, equities research analysts expect that ProFrac Holding Corp. will post -1.15 earnings per share 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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.