Tenaris S.A. (TS) Shares are Up 2.99%

Tenaris S.A. (TS) has been under a strong bear grip, hence the stock is down -4.37% 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 2.56% in the past 1 week. The stock has risen by 2.99% in the past week indicating that the buyers are active at lower levels, but the stock is down -1.99% in the past 4 weeks.

Tenaris S.A. (NYSE:TS): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $26.92 and $26.86 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $27.65. The buying momentum continued till the end and the stock did not give up its gains. It closed at $27.52, notching a gain of 1.55% for the day. The total traded volume was 2,464,321 . The stock had closed at $27.10 on the previous day.

The stock has recorded a 20-day Moving Average of 0.83% and the 50-Day Moving Average is 0.26%. Tenaris S.A. is up 7.64% in the last 3-month period. Year-to-Date the stock performance stands at 18.32%.

Tenaris S.A. (TS) : The highest level Tenaris S.A. (TS) is projected to reach is $34 for the short term and the lowest estimate is at $21. The consolidated price target from 6 rating analysts who initiate coverage on the stock is $26.5 and the possibility the share price can swing is $5.09.


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.

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