Traders Buy Large Volume of Call Options on Acuren (NYSEAMERICAN:TIC)

Acuren Corp (NYSEAMERICAN:TIC) was the target of unusually large options trading activity on Friday. Investors acquired 2,721 call options on the company. This represents an increase of approximately 114% compared to the typical daily volume of 1,271 call options.

Acuren Stock Up 4.8%

Shares of NYSEAMERICAN:TIC traded up $0.52 during midday trading on Friday, reaching $11.40. The company’s stock had a trading volume of 756,502 shares, compared to its average volume of 1,591,892. Acuren has a fifty-two week low of $8.76 and a fifty-two week high of $14.94. The firm has a 50 day moving average price of $10.24 and a two-hundred day moving average price of $11.18.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TIC. Zacks Research upgraded Acuren to a “hold” rating in a report on Tuesday, December 16th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $15.00 target price on shares of Acuren in a report on Friday, November 14th. Baird R W upgraded shares of Acuren to a “hold” rating in a report on Thursday, October 9th. Robert W. Baird began coverage on shares of Acuren in a report on Thursday, October 9th. They issued a “neutral” rating and a $15.00 price objective for the company. Finally, JPMorgan Chase & Co. initiated coverage on Acuren in a report on Friday. They issued an “overweight” rating and a $16.00 target price for the company. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $14.38.

Institutional Investors Weigh In On Acuren

A number of institutional investors have recently added to or reduced their stakes in TIC. Vanguard Group Inc. increased its holdings in shares of Acuren by 100.8% in the third quarter. Vanguard Group Inc. now owns 8,528,717 shares of the company’s stock worth $113,517,000 after buying an additional 4,280,384 shares during the period. Swedbank AB purchased a new stake in Acuren during the 3rd quarter valued at about $43,923,000. Dimensional Fund Advisors LP bought a new position in Acuren during the 3rd quarter worth approximately $43,579,000. Cercano Management LLC purchased a new position in Acuren in the 3rd quarter worth approximately $38,629,000. Finally, Geode Capital Management LLC bought a new stake in Acuren in the second quarter valued at approximately $25,003,000.

Acuren Company Profile

Acuren Group Inc (NYSEAMERICAN:TIC) is a leading provider of non‐destructive testing (NDT), inspection, engineering and consulting services to the energy, petrochemical, manufacturing and infrastructure sectors. The company employs a range of advanced testing techniques—such as ultrasonic, radiographic, magnetic particle, liquid penetrant, eddy current and acoustic emission—to evaluate the integrity of pressure vessels, pipelines, storage tanks and other critical assets. By combining field inspections with laboratory analysis, Acuren helps clients identify defects, prevent equipment failures and meet regulatory requirements.

In addition to core NDT capabilities, Acuren offers specialty engineering and consulting services including fitness‐for‐service assessments, corrosion under insulation surveys, mechanical integrity programs, failure analysis and field machining.