Beamr video compression achieves up to 50% improvement for AVs
In a recent transaction, Farris Wilks, a ten percent owner of ProFrac Holding Corp. (NASDAQ:ACDC), acquired 338,756 shares of Class A common stock. The shares were purchased at a price of $6.93 each, amounting to a total value of approximately $2,347,579. This transaction was initially recorded under FARJO Holdings, LP, but an amendment clarified that the acquisition was made directly by Wilks. According to InvestingPro data, the stock has shown strong momentum with a 17% return over the past week, though current trading suggests overbought conditions.
Following this acquisition, Wilks holds a total of 1,165,132 shares. The transaction was part of a filing amendment to correct an earlier administrative error. The shares were acquired directly, and Wilks now has substantial voting and investment control over these shares. InvestingPro analysis reveals the company’s current market capitalization stands at $1.3 billion, with an EBITDA of $448 million in the last twelve months. Get access to 7 more exclusive ProTips and comprehensive financial metrics with InvestingPro’s detailed research report.
This development is noteworthy for investors tracking insider activity at ProFrac Holding Corp., as it reflects significant confidence in the company from one of its major stakeholders, despite analysts not anticipating profitability this year according to InvestingPro forecasts.
In other recent news, ProFrac Holding Corp reported its first-quarter 2025 earnings, revealing a mixed financial performance. The company posted an earnings per share (EPS) of -0.3357, which missed the forecasted -0.301. However, ProFrac delivered a revenue of $600.3 million, significantly surpassing projections of $495.02 million. Adjusted EBITDA increased by 83% from the previous quarter, indicating improved operational efficiency. Despite the revenue success, S&P Global Ratings downgraded ProFrac’s credit rating to ’CCC+’ from ’B’, citing liquidity concerns and a negative outlook. The company is facing significant debt amortization requirements, with approximately $150 million in total debt due over the next year. ProFrac’s operations are expected to benefit from its high-quality fleet and geographical footprint, particularly in regions with a higher proportion of natural gas production. However, the negative outlook reflects expectations that ProFrac’s liquidity will remain constrained over the next 12 months.
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