Tidewater Inc. (TDW) Moves Higher on Volume Spike for January 25

Tidewater Inc. (TDW) Moves Higher on Volume Spike for January 25

Tidewater Inc. (TDW) traded on unusually high volume on Jan. 25, as the stock gained 2.91% to close at $23.01. On the day, Tidewater Inc. saw 347,378 shares trade hands on 1,617 trades. Considering that the stock averages only a daily volume of 224,614 shares a day over the last month, this represents a pretty significant bump in volume over the norm.

Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.

The stock has traded between $36.09 and $18.36 over the last 52-weeks, its 50-day SMA is now $22.81, and its 200-day SMA $29.08. Tidewater Inc. has a P/B ratio of 0.89.

Tidewater Inc provides offshore service vessels and marine support services to the global offshore energy industry through the operation of a diversified fleet of marine service vessels. The company’s vessels and associated vessel services provide support for all phases of offshore exploration, field development, and production. These services include towing of, and anchor handling for, mobile offshore drilling units; transporting supplies and remotely operated vehicle operations and a variety of specialized services. The company operates in the following principal geographical areas are Americas, Asia/Pacific, Middle East, and Africa/Europe. The majority of its revenue is derived from the Americas.

Headquartered in New Orleans, LA, Tidewater Inc. has 4,700 employees and is currently under the leadership of CEO John T. Rynd.

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