Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Diamond Offshore Drilling, Inc. shares valued at $171,080 were sold by Savarino Dominic A on Mar 19 ’24. At $13.16 per share, Savarino Dominic A sold 13,000 shares. The insider’s holdings dropped to 44,501 shares worth approximately $0.6 million following the completion of this transaction.
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Also, ROLAND DAVID L sold 5,000 shares, netting a total of over 59,951 in proceeds. Following the sale of shares at $11.99 each, the insider now holds 80,306 shares.
Before that, Savarino Dominic A had sold 5,106 shares from its account. In a trade valued at $60,059, the Senior Vice President and CFO traded Diamond Offshore Drilling, Inc. shares for $11.76 each. Upon closing the transaction, the insider’s holdings decreased to 5,106 shares, worth approximately $0.77 million.
As published in their initiating research note from CapitalOne on November 28, 2023, Diamond Offshore Drilling, Inc. [DO] has been an Overweight and the price target has been revised to $20. Analysts at BTIG Research started covering the stock with ‘”a Buy”‘ outlook in a report released in early September.
Analyzing DO Stock Performance
During the last five days, there has been a surge of approximately 2.05%. Over the course of the year, Diamond Offshore Drilling, Inc. shares have jumped approximately 3.38%. Shares of the company reached a 52-week high of $13.55 on 03/25/24 and a 52-week low of $11.02 on 02/28/24. A 50-day SMA is recorded $12.32, while a 200-day SMA reached $13.45. Nevertheless, trading volume fell to 0.89 million shares from 1.76 million shares the previous day.
Support And Resistance Levels for Diamond Offshore Drilling, Inc. (DO)
According to the 24-hour chart, there is a support level at 13.17, which, if violated, would cause prices to drop to 12.89. In the upper region, resistance lies at 13.59. The next price resistance is at 13.74. RSI (Relative Strength Index) is 63.76 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.33, which suggests the price will decrease in the coming days. Percent R is at 7.17%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Diamond Offshore Drilling, Inc. subject to short interest?
Stocks of Diamond Offshore Drilling, Inc. saw a sharp rise in short interest on Feb 29, 2024 jumping by 0.56 million shares to 4.41 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 3.85 million shares. A jump of 12.7% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.81 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.81.
