Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Tidewater Inc. shares valued at $1,597,992 were sold by Rubio Samuel R on Mar 05 ’24. At $81.36 per share, Rubio Samuel R sold 19,641 shares. The insider’s holdings dropped to 98,036 shares worth approximately $9.63 million following the completion of this transaction.
Also, Darling David E sold 17,821 shares, netting a total of over 1,462,748 in proceeds. Following the sale of shares at $82.08 each, the insider now holds 85,959 shares.
Before that, Hudson Daniel A. had sold 8,000 shares from its account. In a trade valued at $656,000, the EVP & GENERAL COUNSEL traded Tidewater Inc. shares for $82.00 each. Upon closing the transaction, the insider’s holdings decreased to 8,000 shares, worth approximately $10.24 million.
As published in their initiating research note from Johnson Rice on February 09, 2024, Tidewater Inc. [TDW] has been a Buy and the price target has been revised to $88. Analysts at Pickering Energy Partners started covering the stock with ‘”an Outperform”‘ outlook in a report released in late January. As of July 14, 2023, Raymond James has initiated its “Strong buy” rating for TDW.
Analyzing TDW Stock Performance
During the last five days, there has been a surge of approximately 0.19%. Over the course of the year, Tidewater Inc. shares have jumped approximately 36.19%. Shares of the company reached a 52-week high of $101.10 on 04/03/24 and a 52-week low of $63.28 on 01/11/24. A 50-day SMA is recorded $80.89, while a 200-day SMA reached $68.42. Nevertheless, trading volume fell to 0.52 million shares from 0.5 million shares the previous day.
Support And Resistance Levels for Tidewater Inc. (TDW)
According to the 24-hour chart, there is a support level at 97.03, which, if violated, would cause prices to drop to 95.86. In the upper region, resistance lies at 99.25. The next price resistance is at 100.30. RSI (Relative Strength Index) is 71.61 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.79, which suggests the price will increase in the coming days. Percent R is at 25.09%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Tidewater Inc. subject to short interest?
Stocks of Tidewater Inc. saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.25 million shares to 4.89 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 4.64 million shares. A jump of 5.11% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.75 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.75.
