ProFrac Holding Corp’s recently made public that its 10% Owner THRC Holdings, LP acquired Company’s shares for reported $5.22 million on May 29 ’24. In the deal valued at $9.32 per share,559,783 shares were bought. As a result of this transaction, THRC Holdings, LP now holds 76,200,545 shares worth roughly $571.5 million.
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Then, THRC Holdings, LP bought 440,217 shares, generating $4,177,659 in total proceeds. Upon buying the shares at $9.49, the 10% Owner now owns 75,640,762 shares.
Before that, THRC Holdings, LP bought 265,539 shares. ProFrac Holding Corp shares valued at $2,522,620 were divested by the 10% Owner at a price of $9.50 per share. As a result of the transaction, THRC Holdings, LP now holds 75,200,545 shares, worth roughly $564.0 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 Monday, ProFrac Holding Corp [NASDAQ:ACDC] saw its stock jump 4.60% to $7.50. Over the last five days, the stock has lost -2.34%. ProFrac Holding Corp shares have fallen nearly -11.56% since the year began. Nevertheless, the stocks have fallen -36.22% over the past one year. While a 52-week high of $14.23 was reached on 05/31/24, a 52-week low of $6.46 was recorded on 01/17/24. SMA at 50 days reached $8.29, while 200 days put it at $8.51. A total of 0.99 million shares were traded, compared to the trading of 0.85 million shares in the previous session.
Levels Of Support And Resistance For ACDC Stock
The 24-hour chart illustrates a support level at 7.27, which if violated will result in even more drops to 7.05. On the upside, there is a resistance level at 7.62. A further resistance level may holdings at 7.75. The Relative Strength Index (RSI) on the 14-day chart is 37.61, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.82, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 80.77%. Stochastics %K at 9.33% indicates the stock is a buying.
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