Viridien Shares Drop 23.7% in a Week, Falling Below €111
Viridien shares fell 2.47% to €110.40 in mid-afternoon trading this Friday, in a declining Paris market. The SBF 120 is down 0.68% and the CAC 40 has lost 0.73% during the session. The geoscience specialist ranks among the top five declines in the broad index.
A Dark Week Following Quarterly Earnings Release
Today's decline continues a downward trend that began last Wednesday. Over seven days, the stock has lost 23.7%, following a 16% drop after the first-quarter earnings were announced. Despite generating a net cash flow of $26M this quarter, compared to a negative flow of $20M a year earlier, and reducing its net debt to $700M, the oil context does not favor the stock. Brent crude is at $99.41 per barrel, down 1.84% in the session and 10.4% over five days amid diplomatic rapprochement between Washington and Tehran. Viridien, which provides technology and services to oil companies, remains directly exposed to this dynamic. However, its performance over the year is still positive at 116.4%.
RSI at 35 and Price Below Lower Bollinger Band
The price has fallen below the lower Bollinger band set at €111.90, indicating a technical oversold condition. An RSI of 35 confirms seller exhaustion following the recent downtrend. The stock is now significantly below its 50-day moving average (€130.49) but still maintains a comfortable margin above the 200-day moving average (€97.38), reflecting the underlying bullish trend. The technical support identified at €113.20 was breached during the session. On the operational front, subsidiary Sercel has secured a contract for 3,000 WiNG 3C sensors in India, and the group launched the CDI25 seismic reimaging project in Côte d'Ivoire earlier this week. The next financial event is the general assembly on June 3, 2026.
