Short Interest in Tidewater Inc (TDW) Decreases By 94.1%
Tidewater Inc (NYSE:TDW) was the target of a significant decline in short interest during the month of August. As of August 15th, there was short interest totalling 388,760 shares, a decline of 94.1% from the July 31st total of 6,627,948 shares. Based on an average daily volume of 199,933 shares, the short-interest ratio is currently 1.9 days.
Several analysts have weighed in on the stock. BidaskClub raised shares of Tidewater from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 5th. Clarkson Capital raised shares of Tidewater from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 15th. Finally, Zacks Investment Research downgraded shares of Tidewater from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Tidewater has a consensus rating of “Hold” and an average price target of $1.00.
Shares of Tidewater (TDW) opened at 23.60 on Monday. Tidewater has a 1-year low of $20.37 and a 1-year high of $29.14. The firm has a 50-day moving average of $26.06 and a 200 day moving average of $28.81. The company’s market capitalization is $1.11 billion.
Tidewater (NYSE:TDW) last released its quarterly earnings results on Monday, June 12th. The oil and gas company reported ($0.94) EPS for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.35. The firm had revenue of $160.75 million for the quarter, compared to analysts’ expectations of $118.75 million. On average, analysts anticipate that Tidewater will post ($143.64) EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Deltec Asset Management LLC purchased a new position in shares of Tidewater during the 2nd quarter worth about $114,000. Norges Bank purchased a new position in shares of Tidewater during the 4th quarter worth about $119,000. Public Employees Retirement System of Ohio boosted its stake in shares of Tidewater by 98.6% during the 1st quarter. Public Employees Retirement System of Ohio now owns 106,929 shares of the oil and gas company’s stock worth $123,000 after purchasing an additional 53,093 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Tidewater by 502.8% during the 1st quarter. JPMorgan Chase & Co. now owns 115,513 shares of the oil and gas company’s stock worth $133,000 after purchasing an additional 96,350 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Tidewater by 339.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 135,629 shares of the oil and gas company’s stock worth $156,000 after purchasing an additional 104,759 shares during the period.
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Tidewater Inc provides offshore service vessels and marine support services. The Company operates through four segments: Americas, Asia/Pacific, Middle East/North Africa and Sub-Saharan Africa/Europe. Its Americas segment includes the activities of the Company’s 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 of offshore Mexico, Trinidad and Brazil.
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