Transocean Ltd’s recent filing unveils that its Director Perestroika acquired Company’s shares for reported $6.2 million on Sep 12 ’24. In the deal valued at $4.13 per share,1,500,000 shares were bought. As a result of this transaction, Perestroika now holds 91,074,894 shares worth roughly $384.34 million.
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Then, Perestroika (Cyprus) Ltd bought 1,500,000 shares, generating $6,195,000 in total proceeds. Upon buying the shares at $4.13, the Director now owns 91,074,894 shares.
Before that, Mohn Frederik Wilhelm bought 1,500,000 shares. Transocean Ltd shares valued at $6,195,000 were divested by the Director at a price of $4.13 per share. As a result of the transaction, Mohn Frederik Wilhelm now holds 91,074,894 shares, worth roughly $384.34 million.
The Benchmark Company downgraded its Transocean Ltd [RIG] rating to a Hold from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Citigroup’s analysts, who decreased its forecast for the stock in mid September from “a Buy” to “a Neutral”. DNB Markets also remained covering RIG and has increased its forecast on September 03, 2024 with a “Buy” recommendation from previously “Hold” rating. Susquehanna revised its rating on April 08, 2024. It rated RIG as “a Positive” which previously was an “a Neutral”.
Price Performance Review of RIG
On Friday, Transocean Ltd [NYSE:RIG] saw its stock fall -5.38% to $4.22. Over the last five days, the stock has lost -5.59%. Transocean Ltd shares have fallen nearly -33.54% since the year began. Nevertheless, the stocks have fallen -35.77% over the past one year. While a 52-week high of $6.88 was reached on 04/08/24, a 52-week low of $3.85 was recorded on 09/10/24. SMA at 50 days reached $4.31, while 200 days put it at $5.17.
Levels Of Support And Resistance For RIG Stock
The 24-hour chart illustrates a support level at 4.09, which if violated will result in even more drops to 3.97. On the upside, there is a resistance level at 4.43. A further resistance level may holdings at 4.65. The Relative Strength Index (RSI) on the 14-day chart is 46.60, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.03, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 62.65%. Stochastics %K at 47.79% 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 2024-10-31, dropping by -10.35 million shares to a total of 149.41 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 159.76 million shares. There was a decline of -6.93%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on November 28, 2023 when CapitalOne began covering the stock and recommended ‘”an Equal weight”‘ rating along with a $8 price target.
