Investing in ProFrac Holding Corp. [ACDC]: What You Must Know


ProFrac Holding Corp.’s filing revealed that its 10% Owner THRC Holdings, LP acquired Company’s shares for reported $2.49 million on Jun 14. In the deal valued at $13.40 per share,186,148 shares were bought. As a result of this transaction, THRC Holdings, LP now holds 71,636,571 shares worth roughly $ 793.73 million.

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Then, THRC Holdings, LP bought 98,911 shares, generating $1,326,397 in total proceeds. Upon buying the shares at $13.41, the 10% Owner now owns 71,450,423 shares.

Before that, THRC Holdings, LP bought 64,783 shares. ProFrac Holding Corp. shares valued at $818,209 were divested by the 10% Owner at a price of $12.63 per share. As a result of the transaction, THRC Holdings, LP now holds 71,351,512 shares, worth roughly $790.57 million.

JP Morgan downgraded its ProFrac Holding Corp. [ACDC] rating to a Neutral from a an Overweight in a research note published on Friday. PT values the company’s stock at a premium of 26.13 to its Friday closing price.

Price Performance Review of ACDC

On Friday, ProFrac Holding Corp. [NASDAQ:ACDC] saw its stock jump 0.73% to $11.08. On the same session, the stock had its day’s lowest price of $11.01, but rose to a high of $11.40. Over the last five days, the stock has gained 8.10%. ProFrac Holding Corp. shares have fallen nearly -56.03% since the year began. Nevertheless, the stocks have fallen -43.73% over the past one year. While a 52-week high of $27.00 was reached on 01/03/23, a 52-week low of $9.01 was recorded on 05/10/23. SMA at 50 days reached $11.76, while 200 days put it at $16.05. A total of 0.76 million shares were traded, compared to the trading of 1.06 million shares in the previous session.

Levels Of Support And Resistance For ACDC Stock

The 24-hour chart illustrates a support level at 10.93, which if violated will result in even more drops to 10.77. On the upside, there is a resistance level at 11.32. A further resistance level may holdings at 11.55. The Relative Strength Index (RSI) on the 14-day chart is 47.20, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.40, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 22.38%. Stochastics %K at 72.34% indicates the stock is a holding.

How much short interest is there in ProFrac Holding Corp.?

A steep rise in short interest was recorded in ProFrac Holding Corp. stocks on Aug 14, 2023, dropping by -1.31 million shares to a total of 3.43 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 4.74 million shares. There was a decline of -38.19%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 13.16% of the overall stock float, the days-to-cover ratio (short ratio) fell to 6.09.

ProFrac Holding Corp. [ACDC] – Who Are The Largest Shareholders?

In filings from Encompass Capital Advisors LLC, it is revealed that the company now owns 2,971,989 shares, or roughly 1.87% of the outstanding ACDC shares. Additionally, The Vanguard Group, Inc. increased 2.17% of its stake after which the total value it holdings stand at $31,160,098, while BlackRock Fund Advisors added 4.99% of its stake to hold $21.86 million in the firm. Over the last quarter, Fidelity Management & Research Co purchased 368,391 shares of ProFrac Holding Corp., while Schroder Investment Management No bought -23,096 shares. At present, Canoe Financial LP is holding 894,489 shares valued at $11.51 million. SSgA Funds Management, Inc. owned 869,152 shares of the company at the time of its most recent 13F filing, worth $11.19 million.

According to FactSet, ProFrac Holding Corp.’s share price will average $14.93 in the next year, based on opinions of analysts polled by the firm. This is up nearly 36.36 percent from its previous closing price of $11.00. Analysts expect ProFrac Holding Corp. stock to reach the higher price of $18.00, while the lowest price estimate is $12.50. However, 7 analysts have rated ACDC stock as an Overweight in their predictions for 2023.


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