Why Liberty Energy Shares Are Falling

Liberty Energy Inc LBRT shares are trading lower by 7.45% at $16.33 after the company announced the pricing of a secondary offering of Class A common stock by selling stockholders.

Liberty Energy will not sell any shares of Class A common stock in the offering and will not receive any proceeds therefrom. Liberty Energy says BofA Securities and J.P. Morgan are acting as joint book-running managers for the offering.

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Liberty Energy provides hydraulic fracturing services, mainly pressure pumping, to onshore E&P firms' major basins throughout North America.

According to data from Benzinga Pro, Liberty Energy has a 52-week high of $20.05 and a 52-week low of $8.50.