Could Tidewater Inc. (TDW) Recover After Forming a Bearish Multiple Bottom Pattern?

September 17, 2017 - By Winifred Garcia

Investors sentiment decreased to 0.71 in Q4 2016. Its down 0.17, from 0.88 in 2016Q3. It fall, as 26 investors sold Tidewater Inc. shares while 46 reduced holdings. 14 funds opened positions while 37 raised stakes. 37.47 million shares or 16.57% less from 44.91 million shares in 2016Q3 were reported.
Gam Hldg Ag owns 20,000 shares or 0% of their US portfolio. Timber Hill Limited Liability Co, a Connecticut-based fund reported 10,348 shares. The Germany-based Deutsche Bancorp Ag has invested 0% in Tidewater Inc. (NYSE:TDW). Retail Bank Of Montreal Can holds 6,237 shares or 0% of its portfolio. Wells Fargo Mn invested in 44,777 shares or 0% of the stock. Blackrock Fund Advsrs stated it has 3.91 million shares. Art Advsrs Lc holds 0.04% in Tidewater Inc. (NYSE:TDW) or 190,700 shares. Hudock Cap Gp Lc invested in 0% or 112 shares. Menta Cap Ltd Liability Com invested in 105,637 shares or 0.03% of the stock. Citigroup reported 56,357 shares stake. Envestnet Asset Mgmt invested 0% in Tidewater Inc. (NYSE:TDW). Quantitative Inv Mngmt Ltd Limited Liability Company accumulated 378,800 shares. Huntington Fincl Bank reported 0% in Tidewater Inc. (NYSE:TDW). Louisiana State Employees Retirement Systems holds 0% of its portfolio in Tidewater Inc. (NYSE:TDW) for 18,900 shares. Pacific Glob, a California-based fund reported 20,150 shares.

The stock of Tidewater Inc. (TDW) shows a multiple bottoms pattern with $27.48 target or 6.00 % below today’s $29.23 share price. The 7 months chart pattern indicates high risk for the $876.90 million company. It was reported on Sep, 17 by Finviz.com. If the $27.48 price target is reached, the company will be worth $52.61M less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 0.38% or $0.11 on September 15, reaching $29.23. About 1.83 million shares traded or 741.16% up from the average. Tidewater Inc. (NYSE:TDW) has declined 87.52% since September 17, 2016 and is downtrending. It has underperformed by 104.22% the S&P500.

Tidewater Inc. (NYSE:TDW) Ratings Coverage

Among 10 analysts covering Tidewater (NYSE:TDW), 1 have Buy rating, 2 Sell and 7 Hold. Therefore 10% are positive. Tidewater had 16 analyst reports since August 14, 2015 according to SRatingsIntel. The firm has “Hold” rating by Argus Research given on Tuesday, December 22. The stock of Tidewater Inc. (NYSE:TDW) earned “Sector Perform” rating by iBERIA Capital Partners on Friday, May 27. Howard Weil maintained the stock with “Sector Perform” rating in Thursday, February 4 report. The stock of Tidewater Inc. (NYSE:TDW) earned “Sell” rating by Clarkson Platou on Tuesday, March 8. Argus Research maintained it with “Buy” rating and $21 target in Monday, October 12 report. On Friday, September 4 the stock rating was upgraded by Zacks to “Hold”. The firm has “Sector Perform” rating given on Thursday, November 5 by Howard Weil. The rating was maintained by Cowen & Co with “Outperform” on Wednesday, September 16. The stock has “Sell” rating by Argus Research on Tuesday, October 25. The rating was downgraded by Johnson Rice to “Hold” on Wednesday, August 10.

Another recent and important Tidewater Inc. (NYSE:TDW) news was published by Theadvocate.com which published an article titled: “New Orleans-based Tidewater Inc. emerges from bankruptcy protection” on July 31, 2017.

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