Tidewater (NYSE:TDW – Get Rating) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.
Tidewater Stock Up 0.7 %
Tidewater stock traded up $0.15 during trading on Thursday, reaching $22.31. The stock had a trading volume of 481,385 shares, compared to its average volume of 368,446. The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.20. Tidewater has a 52-week low of $9.75 and a 52-week high of $28.79. The stock has a market cap of $941.26 million, a PE ratio of -9.07 and a beta of 1.42. The business has a 50 day moving average price of $20.64 and a 200 day moving average price of $21.09.
Insider Activity at Tidewater
In other Tidewater news, Director Robert Robotti purchased 560,224 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was bought at an average cost of $17.85 per share, with a total value of $9,999,998.40. Following the acquisition, the director now directly owns 2,669,271 shares of the company’s stock, valued at $47,646,487.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.15% of the stock is currently owned by corporate insiders.
Institutional Trading of Tidewater
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new stake in Tidewater during the 1st quarter worth $33,000. Dorsey Wright & Associates acquired a new stake in shares of Tidewater during the first quarter worth about $42,000. Spartan Fund Management Inc. purchased a new stake in shares of Tidewater in the 2nd quarter valued at about $63,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Tidewater in the 2nd quarter valued at about $90,000. Finally, Amalgamated Bank purchased a new position in Tidewater during the 1st quarter worth approximately $107,000. Institutional investors and hedge funds own 81.92% of the company’s stock.
About Tidewater
Tidewater Inc, together with its subsidiaries, provides offshore marine support and transportation services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and natural gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.