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. Tidewater Inc shares valued at $21,288,816 were sold by Kneen Quintin on Jun 12 ’24. At $105.86 per share, Kneen Quintin sold 201,094 shares. The insider’s holdings dropped to 134,624 shares worth approximately $6.79 million following the completion of this transaction.
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Also, Kneen Quintin sold 166,000 shares, netting a total of over 17,223,496 in proceeds. Following the sale of shares at $103.76 each, the insider now holds 335,718 shares.
Before that, Traub Kenneth had sold 20,000 shares from its account. In a trade valued at $2,127,606, the Director traded Tidewater Inc shares for $106.38 each. Upon closing the transaction, the insider’s holdings decreased to 20,000 shares, worth approximately $3.47 million.
As published in a research note from Raymond James on November 11, 2024, Tidewater Inc [TDW] has been rated down from a Strong buy to an Outperform and the price target has been revised to $102 from $131. Analysts at Johnson Rice started covering the stock with ‘”a Buy”‘ outlook in a report released in early February. As of January 30, 2024, Pickering Energy Partners has initiated its “an Outperform” rating for TDW. Earlier on July 14, 2023, Raymond James initiated its rating. Their recommendation was “a Strong buy” for TDW stock.
Analyzing TDW Stock Performance
During the last five days, there has been a drop of approximately -5.03%. Over the course of the year, Tidewater Inc shares have dropped approximately -30.05%. Shares of the company reached a 52-week high of $111.42 on 05/07/24 and a 52-week low of $49.86 on 11/20/24. A 50-day SMA is recorded $64.84, while a 200-day SMA reached $84.55. Nevertheless, trading volume fell to 1.07 million shares from 0.81 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 49.92, which, if violated, would cause prices to drop to 49.41. In the upper region, resistance lies at 50.89. The next price resistance is at 51.35. RSI (Relative Strength Index) is 25.20 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -5.25, which suggests the price will decrease in the coming days. Percent R is at 96.35%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
