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Downgrade Alert for Tidewater (TDW)

By Amy Schwartz

Tidewater (NYSE:TDW) was downgraded from Accumulate to Hold at Johnson Rice today. The stock closed yesterday at $3.50 on volume of 7.8 million shares, above average daily volume of 1.6 million.

Tidewater Inc. provides offshore supply vessels and marine support services to the offshore energy exploration, development, and production industry. The Company tows and anchor-handles mobile drilling rigs and equipment, transports supplies and personnel, and supports pipelaying and other offshore construction activities.

In the past 52 weeks, Tidewater share prices have been bracketed by a low of $3.77 and a high of $31.80 and closed yesterday at $3.50, -7% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 2.2% while the 50-day MA has advanced 3.0%.

Potential upside of 338.1% exists for Tidewater, based on a current level of $3.50 and analysts' average consensus price target of $15.33. Tidewater shares should first meet resistance at the 50-day moving average (MA) of $7.38 and find additional resistance at the 200-day MA of $10.51.

SmarTrend is monitoring the recent change of momentum in Tidewater. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Tidewater in search of a potential trend change.

Keywords: analyst upgrades/downgrades tidewater

Ticker(s): TDW