First Financial Bankshares Inc Sells 292,742 Shares of ProFrac Holding Corp. $ACDC

First Financial Bankshares Inc trimmed its holdings in ProFrac Holding Corp. (NASDAQ:ACDC) by 7.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,912,053 shares of the company’s stock after selling 292,742 shares during the quarter. First Financial Bankshares Inc owned approximately 2.16% of ProFrac worth $15,218,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tudor Investment Corp ET AL bought a new position in shares of ProFrac during the 3rd quarter valued at approximately $2,377,000. JPMorgan Chase & Co. boosted its position in shares of ProFrac by 125.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 228,477 shares of the company’s stock valued at $845,000 after acquiring an additional 127,286 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new position in shares of ProFrac during the 3rd quarter valued at approximately $501,000. EverSource Wealth Advisors LLC boosted its position in shares of ProFrac by 7,241.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock valued at $27,000 after acquiring an additional 3,476 shares during the last quarter. Finally, CWM LLC boosted its position in shares of ProFrac by 110.1% during the 4th quarter. CWM LLC now owns 56,604 shares of the company’s stock valued at $220,000 after acquiring an additional 29,659 shares during the last quarter. 12.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ACDC has been the subject of a number of research reports. 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. Piper Sandler increased their target price on ProFrac from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Monday, May 18th. Morgan Stanley increased their target price on ProFrac from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Wednesday, April 15th. Finally, Wall Street Zen downgraded ProFrac from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $6.17.

ProFrac Stock Down 4.3%

Shares of ACDC opened at $7.07 on Friday. The company has a market cap of $1.28 billion, a PE ratio of -2.77 and a beta of 1.41. The business has a fifty day moving average of $6.84 and a 200 day moving average of $5.57. ProFrac Holding Corp. has a 52-week low of $3.08 and a 52-week high of $10.70. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 1.27.

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