Tenaris S.A. (TS) stock had a bullish inflow of $5.38 million worth of trades on uptick and an outflow of $4.29 million in downticks on Wednesday. The total uptick to downtick ratio stood at 1.26. The net money flow into the stock was $1.1 million. The money flow data, which is calculated as the dollar value of composite uptick minus the downtick trades indicated bullish. The block trades had a total money flow of $0.86 million. $0.86 million of block trade during Uptick was observed, which shows continued buying by the smart money on every weakness. However, Tenaris S.A. (TS) stock traded down $0.63 , and reached $27.03, a drop of -2.28% over the previous day. On a weekly basis, the stock is -5.42%, over the previous weeks close.
Also, Equity Analysts at the Citigroup upgrades the rating on Tenaris S.A. (NYSE:TS). The brokerage firm has issued a Neutral rating on the shares. The shares were previously rated Sell. The Analysts at the ratings agency raises the price target from $19 per share to $28 per share. The rating by the firm was issued on April 20, 2016.
Tenaris S.A. (NYSE:TS): The stock opened at $26.73 on Wednesday but the bulls could not build on the opening and the stock topped out at $27.27 for the day. The stock traded down to $26.48 during the day, due to lack of any buying support eventually closed down at $27.14 with a loss of -1.88% for the day. The stock had closed at $27.66 on the previous day. The total traded volume was 2,492,327 shares.
The stock has recorded a 20-day Moving Average of 3.91% and the 50-Day Moving Average is 0.64%.
Tenaris S.A is a holding company, which is engaged in the steel pipe manufacturing and distribution businesses. The Company produces and sells both seamless and welded steel tubular products and related services mainly for the oil and gas industry, particularly oil country tubular goods used in drilling operations, and for other industrial applications with production processes that consist in the transformation of steel into tubular products. It operates in geographical areas, which include North America, South America, Europe, Middle East, Africa, and Far East and Oceania. Its principal finished products are seamless and welded steel casing and tubing, line pipe and other mechanical and structural steel pipes for different uses. It also manufactures sucker rods used in oil extraction activities, industrial equipment of various specifications and applications, including liquid and gas storage equipment, and welded steel pipes for electric conduits used in the construction industry.