Transocean Ltd’s recently made public that its Director Mohn Frederik Wilhelm acquired Company’s shares for reported $4.89 million on Feb 27 ’24. In the deal valued at $4.89 per share,1,000,000 shares were bought. As a result of this transaction, Mohn Frederik Wilhelm now holds 85,574,894 shares worth roughly $558.8 million.
Then, Perestroika (Cyprus) Ltd bought 1,000,000 shares, generating $4,890,000 in total proceeds. Upon buying the shares at $4.89, the Director now owns 85,574,894 shares.
Before that, Tonnel David A sold 57,259 shares. Transocean Ltd shares valued at $470,669 were divested by the SVP – CHIEF ACCOUNTING OFFICER at a price of $8.22 per share. As a result of the transaction, Tonnel David A now holds 417,789 shares, worth roughly $2.73 million.
CapitalOne initiated its Transocean Ltd [RIG] rating to an Equal weight in a research note published on November 28, 2023; the price target was $8. A number of analysts have revised their coverage, including Citigroup’s analysts, who increased its forecast for the stock in early July from “a Neutral” to “a Buy”. Compass Point also remained covering RIG and has increased its forecast on March 22, 2023 with a “Buy” recommendation from previously “Neutral” rating. Barclays revised its rating on February 16, 2023. It rated RIG as “an Equal weight” which previously was an “an Overweight”.
Price Performance Review of RIG
On Friday, Transocean Ltd [NYSE:RIG] saw its stock fall -0.15% to $6.53. Over the last five days, the stock has gained 3.98%. Transocean Ltd shares have risen nearly 2.83% since the year began. Nevertheless, the stocks have fallen -1.36% over the past one year. While a 52-week high of $8.88 was reached on 04/03/24, a 52-week low of $4.45 was recorded on 02/20/24. SMA at 50 days reached $5.49, while 200 days put it at $6.76. A total of 14.22 million shares were traded, compared to the trading of 27.06 million shares in the previous session.
Levels Of Support And Resistance For RIG Stock
The 24-hour chart illustrates a support level at 6.41, which if violated will result in even more drops to 6.30. On the upside, there is a resistance level at 6.66. A further resistance level may holdings at 6.80. The Relative Strength Index (RSI) on the 14-day chart is 70.66, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.33, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 27.83%. Stochastics %K at 77.51% indicates the stock is a holding.
How much short interest is there in Transocean Ltd?
A steep rise in short interest was recorded in Transocean Ltd stocks on Mar 15, 2024, growing by 2.11 million shares to a total of 129.65 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 127.54 million shares. There was a rise of 1.63%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 17.94% of the overall stock float, the days-to-cover ratio (short ratio) rose to 6.53.
The most recent change occurred on January 19, 2023 when The Benchmark Company began covering the stock and recommended ‘”a Buy”‘ rating along with a $7.50 price target.
