Viridien Shares Fall Again, Marking the Lowest Point on the SBF 120
The geoscience specialist continues its decline, ending up at the bottom of the index by midday. The stock suffers from a new target price reduction and experiences increasing pressure from short sellers, despite a generally positive Parisian market.
Bernstein Lowers Target from 163 to 130 Euros, Weighing Down the Stock
Viridien's stock drops 3.3% to €99.70 during the session, making it the lowest performer in the SBF 120, while the broader index is up by 0.72%. The stock is reacting to a new report from Bernstein, which lowered its price target from €163 to €130 yesterday, while maintaining an 'outperform' rating. The revised target suggests a theoretical upside of nearly 30% from the current price, but the market is primarily focused on the significant reduction of nearly 20%.
This movement extends the drop of more than 6% recorded the previous day, during which the stock had already broken its support at €109.60. Over the week, Viridien has lost nearly 14%, and more than 20% over three months, despite a largely positive performance of nearly 76% over twelve months.
A Key Support Broken During the Session and Increasing Downward Pressure
The breach that occurred during the session is technically significant: the stock broke through its support at €103.10 and remains below this threshold, at €99.65 intraday. The price is now below its three moving averages, with a gap of nearly 13% below the MM20 (€114.41) and more than 20% below the MM50 (€125.22). The RSI has dropped to 30, on the edge of the oversold zone, indicating buyer exhaustion after several weeks of decline.
According to reviewed statements, net short positions now account for 3.75% of the capital spread across five funds, up from 2.36% a month ago (+1.39 point). This rapid increase reflects a rise in institutional selling pressure, although it should not necessarily be seen as a sign of a generalized bearish consensus. The next technical marker is on the MM200, at €104.70, now above the current price; this average is currently acting as resistance.
