Acuren (NYSEAMERICAN:TIC) Trading Down 4.2% – Here’s Why

Acuren Corp (NYSEAMERICAN:TIC)’s stock price traded down 4.2% during trading on Wednesday . The stock traded as low as $10.12 and last traded at $10.69. 11,630,671 shares traded hands during trading, an increase of 608% from the average session volume of 1,642,478 shares. The stock had previously closed at $11.16.

Analysts Set New Price Targets

A number of analysts recently weighed in on TIC shares. Jefferies Financial Group started coverage on shares of Acuren in a research report on Thursday, August 28th. They issued a “buy” rating on the stock. UBS Group decreased their price target on Acuren from $11.50 to $11.00 and set a “neutral” rating for the company in a research note on Friday, August 8th. Robert W. Baird started coverage on Acuren in a research report on Thursday, October 9th. They issued a “neutral” rating and a $15.00 price objective on the stock. Finally, Baird R W upgraded Acuren to a “hold” rating in a research report on Thursday, October 9th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $13.00.

Acuren Price Performance

The stock has a 50 day moving average of $12.52.

Institutional Trading of Acuren

Several large investors have recently added to or reduced their stakes in TIC. Nisa Investment Advisors LLC increased its holdings in shares of Acuren by 123.5% in the third quarter. Nisa Investment Advisors LLC now owns 2,277 shares of the company’s stock valued at $30,000 after purchasing an additional 1,258 shares during the period. Granite FO LLC purchased a new stake in Acuren in the third quarter valued at approximately $27,000. Voya Investment Management LLC increased its holdings in Acuren by 9.0% in the 3rd quarter. Voya Investment Management LLC now owns 31,384 shares of the company’s stock worth $418,000 after buying an additional 2,598 shares during the period. Blue Trust Inc. purchased a new position in Acuren during the 3rd quarter worth approximately $38,000. Finally, Clearstead Advisors LLC purchased a new position in Acuren during the 3rd quarter worth approximately $43,000.

Acuren Company Profile

Acuren Corporation provides critical asset integrity services in North America. Its activities include various nondestructive testing (NDT) solutions, such as radiography, ultrasonic testing, magnetic particle inspection, penetrant testing, and visual inspection. Its NDT activities include inspection and evaluation of industrial equipment through various technology-enabled methods to ensure asset integrity, avoid accidents, and comply with regulatory requirements without destroying the asset or component.