The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Transocean Ltd shares valued at $85,800 were sold by Mackenzie Roderick James on Nov 18 ’24. At $4.29 per share, Mackenzie Roderick James sold 20,000 shares. The insider’s holdings dropped to 310,857 shares worth approximately $1.31 million following the completion of this transaction.
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Also, Perestroika purchased 1,500,000 shares, netting a total of over 6,195,000 in proceeds. Following the buying of shares at $4.13 each, the insider now holds 91,074,894 shares.
Before that, Perestroika (Cyprus) Ltd had added 1,500,000 shares to its account. In a trade valued at $6,195,000, the Director bought Transocean Ltd shares for $4.13 each. Upon closing the transaction, the insider’s holdings increased to 1,500,000 shares, worth approximately $385.25 million.
As published in a research note from The Benchmark Company on October 15, 2024, Transocean Ltd [RIG] has been rated down from a Buy to a Hold. Analysts at Citigroup downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid September. As of September 03, 2024, DNB Markets has increased its “Hold” rating to a “Buy” for RIG. Earlier on April 08, 2024, Susquehanna upgraded its rating. Their new recommendation was “a Positive” 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 -0.24%. Over the course of the year, Transocean Ltd shares have dropped approximately -33.39%. Shares of the company reached a 52-week high of $6.88 on 04/08/24 and a 52-week low of $3.85 on 09/10/24. A 50-day SMA is recorded $4.33, while a 200-day SMA reached $5.16. Nevertheless, trading volume fell to 15.01 million shares from 16.99 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 4.14, which, if violated, would cause prices to drop to 4.06. In the upper region, resistance lies at 4.32. The next price resistance is at 4.42. RSI (Relative Strength Index) is 47.20 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.13, which suggests the price will decrease in the coming days. Percent R is at 86.44%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
