Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Transocean Ltd shares valued at $4,890,000 were purchased by Mohn Frederik Wilhelm on Feb 27 ’24. At $4.89 per share, Mohn Frederik Wilhelm acquired 1,000,000 shares. The insider’s holdings grew to 85,574,894 shares worth approximately $486.07 million following the completion of this transaction.
Also, Perestroika (Cyprus) Ltd purchased 1,000,000 shares, netting a total of over 4,890,000 in proceeds. Following the buying of shares at $4.89 each, the insider now holds 85,574,894 shares.
Before that, Tonnel David A had sold 57,259 shares from its account. In a trade valued at $470,669, the SVP – CHIEF ACCOUNTING OFFICER traded Transocean Ltd shares for $8.22 each. Upon closing the transaction, the insider’s holdings decreased to 57,259 shares, worth approximately $2.37 million.
As published in a research note from Susquehanna on April 08, 2024, Transocean Ltd [RIG] has been rated up from a Neutral to a Positive and the price target has been revised to $9 from $5.50. Analysts at CapitalOne started covering the stock with ‘”an Equal weight”‘ outlook in a report released in late November. As of July 05, 2023, Citigroup has increased its “Neutral” rating to a “Buy” for RIG. Earlier on March 22, 2023, Compass Point upgraded its rating. Their new recommendation was “a Buy” for RIG stock which previously was a “a Neutral”.
Analyzing RIG Stock Performance
During the last five days, there has been a drop of approximately -11.66%. Over the course of the year, Transocean Ltd shares have dropped approximately -10.55%. Shares of the company reached a 52-week high of $6.88 on 04/08/24 and a 52-week low of $4.45 on 02/20/24. A 50-day SMA is recorded $5.59, while a 200-day SMA reached $6.76. Nevertheless, trading volume fell to 14.19 million shares from 13.37 million shares the previous day.
Support And Resistance Levels for Transocean Ltd (RIG)
According to the 24-hour chart, there is a support level at 5.57, which, if violated, would cause prices to drop to 5.45. In the upper region, resistance lies at 5.90. The next price resistance is at 6.11. RSI (Relative Strength Index) is 38.61 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.43, which suggests the price will decrease in the coming days. Percent R is at 99.17%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
