Tidewater Inc.’s filing revealed that its EVP, CFO & CAO Rubio Samuel R unloaded Company’s shares for reported $1.36 million on Aug 14. In the deal valued at $62.37 per share,21,788 shares were sold. As a result of this transaction, Rubio Samuel R now holds 117,677 shares worth roughly $ 7.96 million.
Then, ROBOTTI ROBERT bought 48,200 shares, generating $3,036,446 in total proceeds. Upon buying the shares at $63.00, the Director now owns 3,234,171 shares.
Before that, ROBOTTI ROBERT bought 117,698 shares. Tidewater Inc. shares valued at $7,330,231 were divested by the Director at a price of $62.28 per share. As a result of the transaction, ROBOTTI ROBERT now holds 3,185,971 shares, worth roughly $215.63 million.
Raymond James initiated its Tidewater Inc. [TDW] rating to a Strong buy in a research note published on Friday, July 14, 2023; the price target was $85. PT values the company’s stock at a premium of 20.38 to its Friday closing price.
Price Performance Review of TDW
On Friday, Tidewater Inc. [NYSE:TDW] saw its stock jump 4.08% to $67.68. On the same session, the stock had its day’s lowest price of $66.14, but rose to a high of $68.8638. Over the last five days, the stock has gained 10.71%. Tidewater Inc. shares have risen nearly 83.66% since the year began. Nevertheless, the stocks have risen 205.42% over the past one year. While a 52-week high of $67.20 was reached on 09/01/23, a 52-week low of $20.02 was recorded on 01/04/23. SMA at 50 days reached $59.48, while 200 days put it at $46.02. A total of 0.95 million shares were traded, compared to the trading of 1.42 million shares in the previous session.
Levels Of Support And Resistance For TDW Stock
The 24-hour chart illustrates a support level at 66.26, which if violated will result in even more drops to 64.84. On the upside, there is a resistance level at 68.98. A further resistance level may holdings at 70.29. The Relative Strength Index (RSI) on the 14-day chart is 69.18, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.05, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 11.42%. Stochastics %K at 84.35% indicates the stock is a selling.
How much short interest is there in Tidewater Inc.?
A steep rise in short interest was recorded in Tidewater Inc. stocks on Aug 14, 2023, dropping by -0.62 million shares to a total of 3.25 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 3.87 million shares. There was a decline of -19.08%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 8.19% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.58.
Tidewater Inc. [TDW] – Who Are The Largest Shareholders?
In filings from T. Rowe Price Associates, Inc., it is revealed that the company now owns 6,284,811 shares, or roughly 12.36% of the outstanding TDW shares. In other words, the investor’s shares have fallen by -508,534 from its previous 13-F filing of 6793345.0. Additionally, Robotti & Co. Advisors LLC decreased -13.31% of its stake after which the total value it holdings stand at $204,108,532, while Neuberger Berman Investment Advis reduced -1.16% of its stake to hold $191.13 million in the firm. Over the last quarter, BlackRock Fund Advisors sold -99,082 shares of Tidewater Inc., while The Vanguard Group, Inc. sold 31,901 shares. At present, Dimensional Fund Advisors LP is holding 1,874,393 shares valued at $118.29 million. Encompass Capital Advisors LLC owned 1,606,947 shares of the company at the time of its most recent 13F filing, worth $101.41 million.
According to FactSet, Tidewater Inc.’s share price will average $76.80 in the next year, based on opinions of analysts polled by the firm. This is up nearly 21.48 percent from its previous closing price of $65.03. Analysts expect Tidewater Inc. stock to reach the higher price of $90.00, while the lowest price estimate is $55.00. However, 5 analysts have rated TDW stock as a Buy in their predictions for 2023.