Ekinops Stock Soars by 17%, Among the Top Gainers in Paris
Ekinops stock experienced a dramatic surge in Friday's midday trading session. The release of the quarterly revenue figures, praised by two brokerage houses, has propelled the stock among the top gainers on the Paris stock exchange.
A 17% Jump Places Ekinops Among the Top Gainers on the Exchange
Ekinops stock leaped by 17.05% to €2.78, up from €2.375 at the previous close. This movement thrusts the stock among the top gainers of the CAC All Shares, in a stagnant Parisian market (CAC 40 +0.17%, SBF 120 +0.18%). The stock has overcome its lag behind the 20-day moving average (€2.67) and has significantly exceeded its 200-day average (€2.26, a +23% deviation), although it remains slightly below its 50-day moving average at €2.85. This rebound consolidates an already positive trajectory, with a gain of 44.45% over three months, while the performance over one year remains negative at more than 37%.
The catalyst for the day is the publication of the second quarter revenue figures, unveiled on July 9. The telecom equipment manufacturer reported revenues of €30.6 million, up 11% sequentially and 6% year-over-year, driven by optical networks in France and the United States. However, the Connectivity and SASE Networks segment saw a 5% sequential decline. The group has reaffirmed its target of single-digit annual growth through 2026.
Two Brokerage Houses Upgrade Their Ratings, Targeting Above €3
Following the release, two research firms adjusted their views. TP Icap Midcap upgraded to 'buy' with a target of €3.00, while Portzamparc moved to a 'strengthen' opinion with a target of €3.10. Compared to the current price of €2.78, these targets indicate a potential upside of 7.9% and 11.5%, respectively. The favorable reception from analysts supports the momentum that began in early April, marked by a ten-year contract signed with Proximus for the deployment of the NEURON optical network.
The RSI at 32 remains in a low zone despite the day's surge, indicating a technically still recovering configuration in the short term. The next threshold to watch is around the 50-day moving average at €2.85, whose crossing would condition the continuation of the movement towards the resistance identified at €3.63.
