Strs Ohio bought a new position in shares of ProFrac Holding Corp. (NASDAQ:PFHC – Get Rating) in the third quarter, HoldingsChannel reports. The firm bought 3,200 shares of the company’s stock, valued at approximately $48,000.
A number of other large investors have also bought and sold shares of PFHC. Point72 Hong Kong Ltd bought a new stake in ProFrac during the 2nd quarter worth approximately $67,000. Jane Street Group LLC acquired a new position in ProFrac during the 2nd quarter worth approximately $190,000. Federated Hermes Inc. acquired a new position in ProFrac during the 2nd quarter worth approximately $256,000. Natixis Advisors L.P. acquired a new position in ProFrac during the 2nd quarter worth approximately $258,000. Finally, Samson Rock Capital LLP acquired a new position in ProFrac during the 2nd quarter worth approximately $366,000. 20.68% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, Morgan Stanley upped their price target on ProFrac from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, September 26th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.42.
ProFrac Stock Performance
ProFrac Holding Corp., a vertically integrated and energy services company, provides hydraulic fracturing, completion, and other products and services to upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. It operates through three segments: Stimulation Services, Manufacturing, and Proppant Production.
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