Tenaris S.A. (TS) : During the past 4 weeks, traders have been relatively bearish on Tenaris S.A. (TS), hence the stock is down -12.72% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -1.01% relative to the S&P 500. The 4-week change in the price of the stock is -9.79% and the stock has fallen -1.07% in the past 1 week.
The stock has recorded a 20-day Moving Average of 3.98% and the 50-Day Moving Average is 2.93%. Tenaris S.A. is up 1% in the last 3-month period. Year-to-Date the stock performance stands at 14.88%.
Tenaris S.A. (NYSE:TS): stock turned positive on Friday. Though the stock opened at $26.4, the bulls momentum made the stock top out at $26.79 level for the day. The stock recorded a low of $26.26 and closed the trading day at $26.72, in the green by 1.67%. The total traded volume for the day was 1,837,081. The stock had closed at $26.28 in the previous days trading.
Also, Brokerage firm Goldman Sachs downgrades its rating on Tenaris S.A. (NYSE:TS). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. 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.