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Seaport Research Partners’s latest rating for ACDC stock

ProFrac Holding Corp’s recent filing unveils 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 $553.98 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 $546.71 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 Tuesday, ProFrac Holding Corp [NASDAQ:ACDC] saw its stock fall -0.14% to $7.27. Over the last five days, the stock has lost -1.62%. ProFrac Holding Corp shares have fallen nearly -14.27% since the year began. Nevertheless, the stocks have fallen -34.86% 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 $8.20, while 200 days put it at $8.39. A total of 0.67 million shares were traded, compared to the trading of 0.39 million shares in the previous session.

Levels Of Support And Resistance For ACDC Stock

The 24-hour chart illustrates a support level at 7.07, which if violated will result in even more drops to 6.88. On the upside, there is a resistance level at 7.46. A further resistance level may holdings at 7.66. The Relative Strength Index (RSI) on the 14-day chart is 36.30, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.24, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 90.52%. Stochastics%K at 11.01% indicates the stock is a buying.

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