GTT Stock Drops Nearly 3% and Breaks Its Support at €196.50
In early afternoon trading, the French designer of LNG carrier tanks is losing ground in a stable Parisian market. The stock has broken through a technical threshold monitored for several sessions, as oil continues its correction and the prospect of Iranian crude returning reshuffles the energy sector's cards.
The Stock Breaks Its Support at €196.50 and Drops Below Its Short-Term Moving Averages
GTT stock is down 2.96% at €193.20 during the session, after breaking through its morning support at €196.50, which it fails to reclaim. The stock thus significantly falls below its MM20 (€201.12) and MM50 (€202.50), with a gap of about 4% from each, marking a break in the short-term momentum. The MM200, at €180.87, remains about 7% below the current price and constitutes the next medium-term reference point should the decline continue. The RSI at 44 reflects a weakened stock without an oversold configuration.
The decline reaches nearly 8% over a month, while the performance over a year remains positive at more than 16%. The movement is part of an unfavorable sector context: Brent is down 4.3% in the session at $79.62, losing nearly 17% since June 7. The relaxation of oil prices, amid a US-Iran memorandum foreseeing the reopening of the Strait of Hormuz and the lifting of some sanctions on Iranian crude, weighs on all French oil-related stocks.
A Flurry of LNG Contracts Not Enough to Support the Stock in Session
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The decline occurs even as GTT's business activity remains strong. The company announced yesterday a contract from its partner China Chengda Engineering for the design of three 240,000 m³ LNG storage tanks for the Yuedong LNG terminal. These facilities will be the largest in the world equipped with the group's GST technology. Earlier in May, the Saint-Rémy-lès-Chevreuse engineer was also selected to design the tanks for four BW LNG carriers, indicating a well-oriented order book.
The discrepancy between commercial news flow and stock market trajectory illustrates the dominance of macro themes over the energy sector. The break of the support at €196.50 is now the key technical element to monitor: as long as the stock remains below this threshold and its short averages, the short-term momentum is oriented downwards. The MM200 at €180.87 marks the next lower reference point.
GTT confirme ses objectifs pour l'exercice 2026 ; le Groupe dispose d'une très forte visibilité sur son chiffre d'affaires
Risks mentioned
Risque de retards dans les plannings de construction des navires, condition de la tenue des objectifs 2026
Perturbations géopolitiques citées comme facteur de contexte du marché des méthaniers
Chiffre d'affaires et EBITDA stables, sans croissance par rapport au 1er semestre 2025
Opportunities identified
Carnet de commandes à 1,9 milliard d'euros offrant une forte visibilité pour les années à venir
37 Mtpa de nouvelles décisions d'investissement en unités de liquéfaction de gaz naturel
Premières commandes de méthaniers à trois cuves et des plus grands réservoirs terrestres GST®
Outlook / guidance
Expected revenue: 760 millions d'euros
Expected EBITDA: 510 millions d'euros
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
