Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. ProFrac Holding Corp shares valued at $2,181,928 were purchased by THRC Holdings, LP on Sep 12 ’24. At $6.17 per share, THRC Holdings, LP acquired 353,635 shares. The insider’s holdings grew to 79,197,549 shares worth approximately $565.47 million following the completion of this transaction.
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Also, THRC Holdings, LP purchased 262,853 shares, netting a total of over 1,692,773 in proceeds. Following the buying of shares at $6.44 each, the insider now holds 78,843,915 shares.
Before that, THRC Holdings, LP had added 2,154 shares to its account. In a trade valued at $13,462, the 10% Owner bought ProFrac Holding Corp shares for $6.25 each. Upon closing the transaction, the insider’s holdings increased to 2,154 shares, worth approximately $561.07 million.
As published in a research note from Morgan Stanley on October 17, 2024, ProFrac Holding Corp [ACDC] has been rated down from an Equal-weight to an Underweight and the price target has been revised to $6.50 from $7. Analysts at Stifel downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid October. As of January 02, 2024, Seaport Research Partners has decreased its “Buy” rating to a “Neutral” for ACDC. Earlier on October 17, 2023, Morgan Stanley downgraded its rating. Their new recommendation was “an Equal-weight” for ACDC stock which previously was a “an Overweight”.
Analyzing ACDC Stock Performance
During the last five days, there has been a surge of approximately 1.85%. Over the course of the year, ProFrac Holding Corp shares have dropped approximately -15.80%. Shares of the company reached a 52-week high of $9.75 on 05/31/24 and a 52-week low of $5.16 on 10/24/24. A 50-day SMA is recorded $6.64, while a 200-day SMA reached $7.50. Nevertheless, trading volume fell to 0.52 million shares from 0.34 million shares the previous day.
Support And Resistance Levels for ProFrac Holding Corp (ACDC)
According to the 24-hour chart, there is a support level at 6.88, which, if violated, would cause prices to drop to 6.62. In the upper region, resistance lies at 7.28. The next price resistance is at 7.42. RSI (Relative Strength Index) is 56.25 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.05, which suggests the price will decrease in the coming days. Percent R is at 31.27%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
