Viridien Shares Close Up 2.76% Amid New Seismic Retreatment Project in Angola
Viridien, a geophysics specialist, saw its shares close at €94.80 this Friday, December 12, marking a 2.76% increase from the opening price of €92.45. The trading session was moderate with 0.45% of the capital traded. This rebound follows the company's announcement on Tuesday of a new seismic data retreatment project in Angola. Over the year, the stock has seen a remarkable increase of 109.3%, largely driven by the gradual improvement of its financial situation.
Stock Performance and New Project Details
The stock opened at €92.45 and climbed to a high of €93.50 during the session, finally closing at €94.80, up 2.76% from the previous day's close of €92.25. Over the past week, the stock has gained 4.98%, and over three months, it has increased by 60%. On December 10, Viridien announced a new multi-client seismic data retreatment project for Block 22 off the coast of Angola, aimed at supporting the upcoming petroleum licensing cycle in this promising region. The 4,300 km² dataset will provide valuable insights into underexplored structures, with initial results expected in the first quarter of 2026. This contract enhances Viridien's presence in the African oilfield services sector and demonstrates operators' confidence in its proprietary advanced imaging technologies. The company continues its financial recovery strategy, having confirmed in November its cash generation target for 2025 at approximately $100 million. In the third quarter, Viridien reported revenues of $266 million and an EBITDA of $120 million, indicating favorable operational momentum. This improvement in fundamentals largely explains the stock's exceptional performance over the past twelve months, significantly outperforming the overall Paris market.
Technical Analysis and Market Indicators
From a technical standpoint, the stock is currently fluctuating between a support level of €85.20 and a major resistance at €121.20. The 50-day moving average is now at €90.15, which has been surpassed by the current price, while the 200-day moving average at €66.24 confirms a long-term bullish trend. However, the RSI at 38 indicates that the stock is in a neutrality zone, after having been in an oversold territory recently. This indicator suggests there is room before the stock is considered overbought. The MACD shows a short-term negative setup, with a MACD line at -1.83 below the signal line at -0.87, and a histogram at -0.96 indicating a recent bearish divergence. This technical reading calls for caution, although today's rebound could mark a potential turning point. The stock also displays a monthly volatility of 13.53% and a very low beta of -0.15, indicating a weak correlation with the movements of the Paris market. The ATR at €2.43 reflects the average daily price range, while a negative CMF at -0.13 and an OBV in negative territory at -2,788,869 signal persistent selling pressure despite the overall progress of the stock since the beginning of the year.
Corporate Transformation and Financial Strategy
Beyond stock movements, Viridien continues its transformation initiated since its renaming in 2022, focusing on terrestrial technologies, digitalization, and energy transition. The company employs approximately 3,200 people worldwide and consolidates its position as a global leader in Earth data and cutting-edge technologies. In November, governance also evolved with the separation of the roles of chairman and CEO, with Sophie Zurquiyah retaining the non-executive chairmanship of the board. This reorganization aims to strengthen decision-making stability in a volatile oil market context. Financially, the company benefited last March from a significant refinancing of €1.1 billion, extending its maturities until 2030. This operation provides leeway to gradually reduce its debt while continuing its investments. The company also has a cash reserve of $226.6 million and reported a 22% year-over-year revenue growth in the third quarter. These elements reinforce the medium-term cash flow generation prospects, a key element for investors closely monitoring debt evolution.
