Tidewater (NYSE:TDW) has tumbled 3.36% during the past week and has dropped 21.76% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 2.2%. Tidewater (NYSE:TDW) has underperformed the index by 22.47% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Tidewater (NYSE:TDW): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $4.80 and $4.72 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $5.15. The buying momentum continued till the end and the stock did not give up its gains. It closed at $4.89, notching a gain of 5.39% for the day. The total traded volume was 3,237,933 . The stock had closed at $4.64 on the previous day.
The company shares have dropped -79.03% from its 1 Year high price. On Jun 24, 2015, the shares registered one year high at $24.08 and the one year low was seen on May 26, 2016. The 50-Day Moving Average price is $6.22 and the 200 Day Moving Average price is recorded at $6.53.
On the companys insider trading activities, Bennett Joseph M, officer (Executive Vice President) of Tidewater Inc had purchased 10,000 shares on December 1, 2015 in a transaction. The price per share was $9.36 and the total amount of the disclosed transaction was $93,600.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.
Many analysts have stated their opinion on the company shares. Major Brokerage house, iBERIA Capital Partners downgrades its ratings on Tidewater (NYSE:TDW). In the latest research report, iBERIA Capital Partners lowers the target price from $8 per share to $4 per share. According to the latest information available, the shares are now rated Sector Perform by the analysts at the agency. Previously, the analysts had a Outperform rating on the shares. The rating by the firm was issued on May 27, 2016. Currently the company Insiders own 1.4% of Tidewater shares according to the proxy statements.
Tidewater Inc. provides offshore service vessels and marine support services to the global offshore energy industry. The Company operates through four operating segments: Americas, Asia/Pacific, Middle East/North Africa and Sub-Saharan Africa/Europe. The Americas segment includes the activities of its North American operations, which include operations in the United States Gulf of Mexico (GOM), and the United States and Canadian coastal waters of the Pacific and Atlantic oceans, as well as operations in Mexico, Trinidad and Brazil. The Asia/Pacific segment includes its Australian, Southeast Asian and Western Pacific operations. The Middle East/North Africa segment includes its operations in the Mediterranean and Red Seas, the Black Sea, the Arabian Gulf and offshore India. The Sub-Saharan Africa/Europe segment includes operations conducted along the East and West Coasts of Africa, as well as operations in the Caspian Sea, the North Sea, and other arctic and cold water markets.