Delta Investment Management LLC Decreases Stock Holdings in ProFrac Holding Corp. (NASDAQ:ACDC)

Delta Investment Management LLC reduced its holdings in shares of ProFrac Holding Corp. (NASDAQ:ACDC) by 75.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,469 shares of the company’s stock after selling 32,500 shares during the quarter. Delta Investment Management LLC’s holdings in ProFrac were worth $89,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ACDC. Pinnacle Associates Ltd. boosted its stake in shares of ProFrac by 34.9% in the fourth quarter. Pinnacle Associates Ltd. now owns 116,405 shares of the company’s stock valued at $987,000 after purchasing an additional 30,085 shares during the period. SG Americas Securities LLC purchased a new position in shares of ProFrac in the third quarter valued at $159,000. New York State Common Retirement Fund boosted its stake in shares of 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 purchasing an additional 17,539 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of ProFrac by 5.0% in the third quarter. Bank of New York Mellon Corp now owns 172,244 shares of the company’s stock valued at $1,874,000 after purchasing an additional 8,265 shares during the period. Finally, Peoples Bank KS acquired a new stake in ProFrac in the third quarter valued at $33,000. 12.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ACDC has been the topic of several recent analyst reports. Bank of America upped their price target on shares of ProFrac from $8.50 to $9.50 and gave the company a “neutral” rating in a report on Monday, April 15th. Stifel Nicolaus cut their price target on shares of ProFrac from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, March 14th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $12.50.

ProFrac Stock Performance

Shares of NASDAQ:ACDC traded up $0.13 on Friday, reaching $8.23. 591,924 shares of the company’s stock were exchanged, compared to its average volume of 925,563. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -15.53 and a beta of 0.71. ProFrac Holding Corp. has a fifty-two week low of $6.46 and a fifty-two week high of $14.32. The business’s 50-day moving average is $8.11 and its two-hundred day moving average is $8.20. The company has a quick ratio of 0.62, a current ratio of 0.98 and a debt-to-equity ratio of 0.74.

ProFrac (NASDAQ:ACDC) last issued its earnings results on Friday, March 15th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.23). The business had revenue of $489.10 million for the quarter, compared to analyst estimates of $594.17 million. ProFrac had a positive return on equity of 3.04% and a negative net margin of 3.98%. As a group, equities research analysts forecast that ProFrac Holding Corp. will post 0.84 EPS for the current year.

ProFrac Company Profile

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.