Tenaris S.A. (TS) has been under a strong bear grip, hence the stock is down -3.34% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.36% in the past 1 week. The stock has risen by 1.42% in the past week indicating that the buyers are active at lower levels, but the stock is down -2.34% in the past 4 weeks.
The stock has recorded a 20-day Moving Average of 2.93% and the 50-Day Moving Average is 0.7%. Tenaris S.A. (NYSE:TS): On Fridays trading session , Opening price of the stock was $28.43 with an intraday high of $28.52. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $27.86. However, the stock managed to close at $27.91, a loss of 0.46% for the day. On the previous day, the stock had closed at $28.04. The total traded volume of the day was 1,743,280 shares.
The company Insiders own 0.2% of Tenaris S.A. shares according to the proxy statements. Institutional Investors own 16.89% of Tenaris S.A. shares. Also, In a research note released to the investors, Goldman Sachs downgrades its rating on Tenaris S.A. (NYSE:TS).The analysts at the brokerage house have a current rating of Neutral on the shares. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on July 20, 2016.
Tenaris S.A is a holding company, which is engaged in the steel pipe manufacturing and distribution businesses. The Company produces and sells both seamless and welded steel tubular products and related services mainly for the oil and gas industry, particularly oil country tubular goods used in drilling operations, and for other industrial applications with production processes that consist in the transformation of steel into tubular products. It operates in geographical areas, which include North America, South America, Europe, Middle East, Africa, and Far East and Oceania. Its principal finished products are seamless and welded steel casing and tubing, line pipe and other mechanical and structural steel pipes for different uses. It also manufactures sucker rods used in oil extraction activities, industrial equipment of various specifications and applications, including liquid and gas storage equipment, and welded steel pipes for electric conduits used in the construction industry.