The stock of Tidewater Inc. (NYSE:TDW) is now priced at $5.52 and the shares are -0.09 points down or -1.6% lower compared to its previous closing price of $5.61. The stock had 101091 contracts set over the past session. TDW shares’ daily volume is compared to its average trading volume at 342971 shares. However, it has a float of 39.61 million and although its performance was 10.18% over the week, it’s one to watch. TDW share price recently placing at $5.49 to $5.7. However, some brokerage firms have priced the stock below the average, including one that has called $5.
The shorts are running away from the Tidewater Inc. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the TDW shares have declined. Short interest in the stock represents just 4.46% of its float, but the volume has dropped by 0. The volume of shorted shares dropped to from shares over the last two weeks. The average intraday trading volume has been shares, which means that days to cover moved to roughly.
In the last trading session, Tidewater Inc. (NYSE:TDW) raised by $0.51 over the week and lost -$0.35 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $23.46. The stock recorded its established 52-week high on 07/31/19.
Since 05/14/20, the stock has traded to a low of $4.09 at 34.96%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.6. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Tidewater Inc.’s two-week RSI is 51.91. This suggests that the stock is neutral at the moment and that TDW shares’ price movement remains stable. The stochastic readings are equally revealing at 77.23% meaning the TDW share price is currently in oversold territory.
The technical chart shows that the TDW stock will likely settle at between $5.65 and $5.78 per share. However, if the stock dips below $5.44, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $5.36.
Currently, the stock is trading in the green of MACD, with a reading of 0.3. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Evercore ISI cut their recommendation for TDW from Outperform to In-line in March 09 review. CapitalOne analysts upgraded their recommendation of the stock from Equal Weight to Overweight in a flash note released to investors on July 24. Argus seeing the stock struggling downgraded it from Hold to Sell on October 25.
The average rating for the TDW equity is 2.5 and is currently gathering a bullish momentum. Of 4 analysts tracking Tidewater Inc. polled by Reuters, 2 rated TDW as a hold. The remaining 2 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Tidewater Inc. (NYSE:TDW) will decrease by about -99.92%, which will see them reach $92.25 million. The company’s full-year revenues are, however, expected to diminish by about -21.02%, down from $486.55 million to $384.27 million. TDW’s expected adjusted earnings should surge almost 11.9% to end up at -$0.47 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -22.75% to record -$1.97/share.