Tudor Investment Corp ET AL Acquires Shares of 642,513 ProFrac Holding Corp. $ACDC

Tudor Investment Corp ET AL bought a new position in ProFrac Holding Corp. (NASDAQ:ACDC) during the 3rd quarter, Holdings Channel.com reports. The fund bought 642,513 shares of the company’s stock, valued at approximately $2,377,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in ProFrac during the third quarter valued at $45,000. Dark Forest Capital Management LP lifted its stake in ProFrac by 131.7% in the 3rd quarter. Dark Forest Capital Management LP now owns 282,844 shares of the company’s stock worth $1,047,000 after purchasing an additional 160,752 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of ProFrac during the 3rd quarter valued at about $54,000. Millennium Management LLC grew its position in shares of ProFrac by 293.4% during the third quarter. Millennium Management LLC now owns 317,446 shares of the company’s stock valued at $1,175,000 after purchasing an additional 236,756 shares in the last quarter. Finally, Brevan Howard Capital Management LP grew its position in shares of ProFrac by 161.6% during the third quarter. Brevan Howard Capital Management LP now owns 60,217 shares of the company’s stock valued at $223,000 after purchasing an additional 37,196 shares in the last quarter. Institutional investors own 12.75% of the company’s stock.

ProFrac Trading Down 1.2%

ACDC opened at $6.63 on Friday. The stock has a 50-day moving average of $5.55 and a 200 day moving average of $4.56. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.08. ProFrac Holding Corp. has a 12 month low of $3.08 and a 12 month high of $10.70. The firm has a market cap of $1.20 billion, a P/E ratio of -3.01 and a beta of 1.70.

ProFrac (NASDAQ:ACDC) last issued its quarterly earnings data on Friday, March 13th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.07). The company had revenue of $436.50 million for the quarter, compared to analysts’ expectations of $402.95 million. ProFrac had a negative net margin of 18.97% and a negative return on equity of 33.18%. As a group, research analysts forecast that ProFrac Holding Corp. will post -0.5 EPS for the current year.

Analyst Upgrades and Downgrades

ACDC has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of ProFrac in a research note on Monday, December 29th. Morgan Stanley lifted their price objective on ProFrac from $4.00 to $5.00 and gave the stock an “underweight” rating in a research note on Tuesday. Zacks Research raised ProFrac from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 21st. Finally, UBS Group reissued a “positive” rating on shares of ProFrac in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $5.63.

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.