ProFrac Holding Corp’s filing revealed that its 10% Owner THRC Holdings, LP acquired Company’s shares for reported $2.18 million on Sep 12 ’24. In the deal valued at $6.17 per share,353,635 shares were bought. As a result of this transaction, THRC Holdings, LP now holds 79,197,549 shares worth roughly $613.78 million.
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Then, THRC Holdings, LP bought 262,853 shares, generating $1,692,773 in total proceeds. Upon buying the shares at $6.44, the 10% Owner now owns 78,843,915 shares.
Before that, THRC Holdings, LP bought 2,154 shares. ProFrac Holding Corp shares valued at $13,462 were divested by the 10% Owner at a price of $6.25 per share. As a result of the transaction, THRC Holdings, LP now holds 78,581,062 shares, worth roughly $609.0 million.
Morgan Stanley downgraded its ProFrac Holding Corp [ACDC] rating to an Underweight from a an Equal-weight in a research note published on October 17, 2024; the price target was decreased to $6.50 from $7. A number of analysts have revised their coverage, including Stifel’s analysts, who decreased its forecast for the stock in mid October from “a Buy” to “a Hold”. Seaport Research Partners also remained covering ACDC and has decreased its forecast on January 02, 2024 with a “Neutral” recommendation from previously “Buy” rating. Morgan Stanley revised its rating on October 17, 2023. It rated ACDC as “an Equal-weight” which previously was an “an Overweight”.
Price Performance Review of ACDC
On Friday, ProFrac Holding Corp [NASDAQ:ACDC] saw its stock jump 2.65% to $7.75. Over the last five days, the stock has gained 20.53%. ProFrac Holding Corp shares have fallen nearly -8.61% since the year began. Nevertheless, the stocks have fallen -7.07% over the past one year. While a 52-week high of $9.75 was reached on 05/31/24, a 52-week low of $5.16 was recorded on 10/24/24. SMA at 50 days reached $6.70, while 200 days put it at $7.50.
Levels Of Support And Resistance For ACDC Stock
The 24-hour chart illustrates a support level at 7.47, which if violated will result in even more drops to 7.20. On the upside, there is a resistance level at 7.96. A further resistance level may holdings at 8.18. The Relative Strength Index (RSI) on the 14-day chart is 62.82, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.40, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 9.49%. Stochastics %K at 82.11% indicates the stock is a selling.
How much short interest is there in ProFrac Holding Corp?
A steep rise in short interest was recorded in ProFrac Holding Corp stocks on 2024-10-31, dropping by 27913.0 shares to a total of 6.92 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 6.95 million shares. There was a decline of -0.4%, which implies that there is a negative sentiment for the stock.
