ProFrac Holding Corp’s recently made public that its 10% Owner THRC Holdings, LP acquired Company’s shares for reported $6.07 million on Nov 10 ’23. In the deal valued at $9.63 per share,630,496 shares were bought. As a result of this transaction, THRC Holdings, LP now holds 72,870,545 shares worth roughly $507.18 million.
Then, Wilks Farris bought 3,409 shares, generating $31,516 in total proceeds. Upon buying the shares at $9.24, the 10% Owner now owns 981,187 shares.
Before that, THRC Holdings, LP bought 603,478 shares. ProFrac Holding Corp shares valued at $5,485,615 were divested by the 10% Owner at a price of $9.09 per share. As a result of the transaction, THRC Holdings, LP now holds 72,240,049 shares, worth roughly $502.79 million.
Seaport Research Partners downgraded its ProFrac Holding Corp [ACDC] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who decreased its forecast for the stock in mid October from “an Overweight” to “an Equal-weight”. JP Morgan also remained covering ACDC and has decreased its forecast on May 11, 2023 with a “Neutral” recommendation from previously “an Overweight” rating.
Price Performance Review of ACDC
On Friday, ProFrac Holding Corp [NASDAQ:ACDC] saw its stock jump 1.38% to $6.96. Over the last five days, the stock has lost -15.43%. ProFrac Holding Corp shares have fallen nearly -17.92% since the year began. Nevertheless, the stocks have fallen -26.27% over the past one year. While a 52-week high of $14.32 was reached on 04/15/24, a 52-week low of $6.46 was recorded on 01/17/24. SMA at 50 days reached $8.07, while 200 days put it at $9.03. A total of 0.89 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 6.87, which if violated will result in even more drops to 6.78. On the upside, there is a resistance level at 7.11. A further resistance level may holdings at 7.26. The Relative Strength Index (RSI) on the 14-day chart is 34.33, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.84, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 86.42%. Stochastics %K at 6.51% indicates the stock is a buying.
