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Susquehanna Upgrades Transocean Ltd (RIG) to a Positive from a Neutral

Transocean Ltd’s filing revealed that its Director Perestroika (Cyprus) Ltd acquired Company’s shares for reported $12.02 million on May 15 ’24. In the deal valued at $6.01 per share,2,000,000 shares were bought. As a result of this transaction, Perestroika (Cyprus) Ltd now holds 87,574,894 shares worth roughly $451.01 million.

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Then, Mohn Frederik Wilhelm bought 2,000,000 shares, generating $12,020,000 in total proceeds. Upon buying the shares at $6.01, the Director now owns 87,574,894 shares.

Before that, Perestroika bought 2,000,000 shares. Transocean Ltd shares valued at $12,020,000 were divested by the Director at a price of $6.01 per share. As a result of the transaction, Perestroika now holds 87,574,894 shares, worth roughly $451.01 million.

Susquehanna upgraded its Transocean Ltd [RIG] rating to a Positive from a a Neutral in a research note published on April 08, 2024; the price target was increased to $9 from $5.50. A number of analysts have revised their coverage, including CapitalOne’s analysts, who began to cover the stock in late November with a ‘”an Equal weight”‘ rating. Citigroup also remained covering RIG and has increased its forecast on July 05, 2023 with a “Buy” recommendation from previously “Neutral” rating. Compass Point revised its rating on March 22, 2023. It rated RIG as “a Buy” which previously was an “a Neutral”.

Price Performance Review of RIG

On Friday, Transocean Ltd [NYSE:RIG] saw its stock fall -0.39% to $5.15. Over the last five days, the stock has lost -4.81%. Transocean Ltd shares have fallen nearly -18.90% since the year began. Nevertheless, the stocks have fallen -18.12% over the past one year. While a 52-week high of $8.88 was reached on 04/08/24, a 52-week low of $4.45 was recorded on 02/20/24. SMA at 50 days reached $5.72, while 200 days put it at $6.21. A total of 19.6 million shares were traded, compared to the trading of 18.99 million shares in the previous session.

Levels Of Support And Resistance For RIG Stock

The 24-hour chart illustrates a support level at 5.07, which if violated will result in even more drops to 5.00. On the upside, there is a resistance level at 5.20. A further resistance level may holdings at 5.26. The Relative Strength Index (RSI) on the 14-day chart is 37.56, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.22, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 91.67%. Stochastics %K at 7.81% indicates the stock is a buying.

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