Sunday, June 26, 2022

Investing in International Seaways Inc. (INSW) Is Getting More Attractive

International Seaways Inc.’s recently made public that its CAO,SVP,Sec. & General Counsel Small James D III unloaded Company’s shares for reported $0.16 million on Jun 15. In the deal valued at $22.39 per share,7,000 shares were sold. As a result of this transaction, Small James D III now holds 40,222 shares worth roughly $ 0.87 million.

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Then, Small James D III sold 19,000 shares, generating $444,224 in total proceeds. Upon selling the shares at $23.38, the CAO,SVP,Sec. & General Counsel now owns 47,222 shares.

Before that, Famatown Finance Ltd bought 100,000 shares. International Seaways Inc. shares valued at $2,171,400 were divested by the 10% Owner at a price of $21.71 per share. As a result of the transaction, Famatown Finance Ltd now holds 8,266,856 shares, worth roughly $178.89 million.

PT values the company’s stock at a premium of 19.85 to its Tuesday closing price. A number of analysts have revised their coverage, including H.C. Wainwright’s analysts, who began to cover the stock in late March with a ‘”a Buy”‘ rating. BTIG Research also remained covering INSW and has decreased its forecast on October 21, 2020 with a “Neutral” recommendation from previously “Buy” rating. B. Riley FBR revised its rating on March 04, 2020. It rated INSW as “a Buy” which previously was an “a Neutral”.

Price Performance Review of INSW

On Tuesday, International Seaways Inc. [NYSE:INSW] saw its stock jump 3.05% to $21.64. On the same session, the stock had its day’s lowest price of $20.87, but rose to a high of $22.22. Over the last five days, the stock has lost -4.63%. International Seaways Inc. shares have risen nearly 47.41% since the year began. Nevertheless, the stocks have risen 17.51% over the past one year. While a 52-week high of $24.99 was reached on 06/07/22, a 52-week low of $13.05 was recorded on 01/24/22. SMA at 50 days reached $22.41, while 200 days put it at $18.07. A total of 0.68 million shares were traded, compared to the trading of 0.51 million shares in the previous session.

Levels Of Support And Resistance For INSW Stock

The 24-hour chart illustrates a support level at 20.93, which if violated will result in even more drops to 20.23. On the upside, there is a resistance level at 22.28. A further resistance level may holdings at 22.93. The Relative Strength Index (RSI) on the 14-day chart is 41.78, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.77, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 81.31%. Stochastics %K at 6.56% indicates the stock is a buying.

How much short interest is there in International Seaways Inc.?

A steep rise in short interest was recorded in International Seaways Inc. stocks on Apr 28, 2022, growing by 0.5 million shares to a total of 2.76 million shares. Yahoo Finance data shows the prior-month short interest on Mar 30, 2022 was 2.26 million shares. There was a rise of 18.12%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 5.65% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.62.

International Seaways Inc. [INSW] – Who Are The Largest Shareholders?

In filings from Donald Smith & Co., Inc., it is revealed that the company now owns 3,571,216 shares, or roughly 7.19% of the outstanding INSW shares. In other words, the investor’s shares have fallen by -144,443 from its previous 13-F filing of 3715659.0. Additionally, The Vanguard Group, Inc. increased 1.86% of its stake after which the total value it holdings stand at $81,699,668, while BlackRock Fund Advisors reduced -2.06% of its stake to hold $69.72 million in the firm. Over the last quarter, Cobas Asset Management SGIIC SA sold -2,008,646 shares of International Seaways Inc., while T. Rowe Price Associates, Inc. sold -11,855 shares. At present, Cyrus Capital Partners LP is holding 2,010,167 shares valued at $48.51 million. Dimensional Fund Advisors LP owned 1,838,288 shares of the company at the time of its most recent 13F filing, worth $44.36 million.

According to FactSet, International Seaways Inc.’s share price will average $28.89 in the next year, based on opinions of analysts polled by the firm. This is up nearly 31.76 percent from its previous closing price of $21.00. Analysts expect International Seaways Inc. stock to reach the higher price of $35.00, while the lowest price estimate is $26.00. However, 7 analysts have rated INSW stock as a Buy in their predictions for 2022. The most recent change occurred on October 11, 2019 when BTIG Research began covering the stock and recommended ‘”a Buy”‘ rating along with a $30 price target.

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