Tidewater Inc. (TDW) Shares Plunge 7.47% on Downgrade

Tidewater Inc. (TDW) shares plummeted 7.47% today, marking the lowest level since December 2022, with an intraday decline of 8.77%.

Investor sentiment has been a significant factor in the recent decline of Tidewater's stock price. The stock has fallen by 20% as of April 4th, indicating a shift in market perception and confidence in the company. This deterioration in sentiment has likely contributed to the recent sell-off and the overall negative trend in the stock's performance.

Analyst ratings have also played a role in the stock's recent volatility. Evercore ISI recently downgraded Tidewater from an "outperform" rating to an "in-line" rating. Such downgrades can influence investor sentiment and result in stock price fluctuations. The change in rating may have prompted some investors to reassess their positions in the company, leading to increased selling pressure and a further decline in the stock price.