Exail Technologies Shares Plunge 17% Following Disagreements with Financial Partner
The French specialist in underwater robotics and navigation systems experiences a sharp drop at the opening, at the bottom of the SBF 120. The penalty follows disagreements revealed the day before with its financial partner ICG regarding refinancing to be completed before the end of the fiscal year. The stock erases some of its gains accumulated over the past year.
Bottom of the SBF 120 after revealing a €380M discrepancy with ICG
Exail Technologies' stock falls by 17% to €99.60, marking the worst performance of the SBF 120 while the index gains 1.34%. The movement directly penalizes the press release published on Thursday, June 11, in which the group acknowledged major discrepancies with ICG regarding the repayment of its bonds and preferred shares.
The gap between the two evaluations of Exail Holding reaches about €380 million, which seriously complicates the planned refinancing by the end of 2026. Despite this drop, the stock still maintains a gain of about 42% over a year, demonstrating the magnitude of the previous rally that this session has come to correct. Exail Technologies had gained more than 117% over twelve months by mid-May, driven by a series of target upgrades and strong demand for its defense and submarine activities.
The stock breaks through its moving averages and tests its support at €109.20
The drop shatters the technical benchmarks of the stock. The price falls below the MM200 at €106.51 (a -6.49% gap) and clearly breaks the support identified at €109.20, which had held during previous breaths. The MM20 is at €127.27 and the MM50 at €124.29, levels significantly above the current price (reported gaps: -21.74% and -19.86%). The RSI, at 44, remains paradoxically in the neutral zone, indicating that the decline was concentrated in this session rather than a long-term trend.
Regarding positioning, the cumulative net short positions reach 6.65% of the capital, declared by five funds according to the declarations consulted, down 1.70 points over thirty days. This level, high in absolute terms, reflects the caution of some institutional investors on the file, even though the recent trend is more towards partial coverage of bearish bets. Based on the consensus of analysts surveyed, the stock is trading at about 54.7 times the earnings for the current fiscal year. Shareholders are convened for the general meeting on June 16, then June 19.
