The Vanguard Group, Inc. has recently announced that it has increased stake in ProFrac Holding Corp. (NASDAQ:ACDC) by 6.50%. After grabbing 2.37 million shares, the institutional investor is now in possession of 0.14 million shares of the Energy Company. The new investment brought the stake of investor firm to 1.49% having worth around $26.54 million. Moreover, BlackRock Fund Advisors increased its share by 55850.0 to have a control over 1.62 million shares. And Citadel Advisors LLC raised its holdings to 0.79 million shares by acquiring 1.33 million shares or 0.84% of the stake.
ProFrac Holding Corp. (ACDC) concluded trading on 05/25/23 at a closing price of $11.78, with 1.54 million shares of worth about $18.11 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -54.20% during that period and on Thursday the price saw a loss of about -4.23%. Currently the company’s common shares owned by public are about 54.50M shares, out of which, 22.66M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 7 analysts are covering the ACDC stock and their offered price forecasts bring an average price target of $18.43. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $22.00 and could fall to a lowest price of $12.00. The stock’s current price level is 41.6% above of average price target set by the analysts, while a rise to estimated low would result in gain of 1.83% for the stock. However, touching the estimated high of $22.00 would mean a gain of 46.45% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 19 times over the past 12 months. They bought 5,703,631 shares in 19 of the transactions. In 0 selling transactions, insiders dumped 0 shares.
iShares Russell 2000 ETF, SPDR S&P Oil & Gas Equipment & Se, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in ProFrac Holding Corp. iShares Russell 2000 ETF is currently holding 0.5 million shares of worth totaling $5.55 million. The company recently came selling 7280.0 shares which brought its stake up to 0.91% of the company’s outstanding shares. SPDR S&P Oil & Gas Equipment & Se sold 6994.0 shares, after which its hold over company’s outstanding shares shrunk to 0.55%, leaving 0.3 million shares with the mutual fund that have a worth of about $3.34 million. Vanguard Total Stock Market ETF, after buying 0.66 million shares, have now control over 0.41% of the stake in the company. It holds 0.0 shares of worth $7.34 million.
ProFrac Holding Corp. (NASDAQ: ACDC) started trading at $12.18, below -$0.12 from concluding price of the previous day. However, the stock later moved at a day high price of 12.30, or with a loss of -4.23%. Stock saw a price change of 2.43% in past 5 days and over the past one month there was a price change of 9.38%. Year-to-date (YTD), ACDC shares are showing a performance of -53.25% which decreased to -34.19% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $9.01 but also hit the highest price of $27.00 during that period. The average intraday trading volume for ProFrac Holding Corp. shares is 849.25K. The stock is currently trading 8.09% above its 20-day simple moving average (SMA20), while that difference is down -1.13% for SMA50 and it goes to -37.03% lower than SMA200.
The Vanguard Group, Inc. acquired 2.37 million shares of ProFrac Holding Corp. having value of about $26.54 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.14 million shares in the company valued at close to $1702905.02, or have control over 6.50% stake in the company. ProFrac Holding Corp. (NASDAQ: ACDC) currently have 54.50M outstanding shares and institutions hold larger chunk of about 30.70% of that. Holding of mutual funds in the company is about 6.58% while other institutional holders and individual stake holders have control over 83.39% and 4.41% of the stake respectively.
The stock has a current market capitalization of $1.83B. PE ratio of stock for trailing 12 months is 4.96, while it has posted earnings per share of $2.38 in the same period. It has Quick Ratio of 0.80 while making debt-to-equity ratio of 10.41. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ACDC, volatility over the week remained 4.21% while standing at 7.75% over the month.
Analysts are in expectations that ProFrac Holding Corp. (ACDC) stock would likely to be making an EPS of $Accolade, Inc. in the current quarter, while forecast for next quarter EPS is $11.21 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $ProFrac Holding Corp. which is $AudioCodes Ltd. at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $Acadia Healthcare Company, Inc. in the same quarter a year ago.
Analysts at 7 brokerage firms have issued recommendations for the ProFrac Holding Corp. (ACDC)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.10. Out of those 7 Wall Street analysts, 5 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
