Could Tidewater Inc (NYSE:TDW) See a Reversal After Less Sellers Came In?

April 16, 2018 - By Marie Mckinney

The stock of Tidewater Inc (NYSE:TDW) registered a decrease of 2.02% in short interest. TDW’s total short interest was 450,800 shares in April as published by FINRA. Its down 2.02% from 460,100 shares, reported previously. With 130,800 shares average volume, it will take short sellers 3 days to cover their TDW’s short positions. The short interest to Tidewater Inc’s float is 2.06%.

The stock decreased 0.66% or $0.215 during the last trading session, reaching $32.335. About 16,616 shares traded. Tidewater Inc. (NYSE:TDW) has risen 13.13% since April 16, 2017 and is uptrending. It has outperformed by 1.58% the S&P500.

Tidewater Inc. provides offshore service vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. The company has market cap of $767.33 million. It provides services in support of offshore exploration, field development, and production, 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, remotely operated vehicle operations, and seismic and subsea support; and various specialized services, such as pipe and cable laying. It currently has negative earnings. The firm operates and charters deepwater vessels, including platform supply and anchor handling towing supply vessels for use in transporting supplies and equipment from shore bases to deepwater and intermediate water depth offshore drilling rigs and production platforms; towing-supply vessels for use in intermediate and shallow waters; and crew boats and utility vessels to transport personnel and supplies from shore bases to offshore drilling rigs, platforms, and other installations.

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