Viridien Shares Plunge 7% Amid Oil Surge to $107

Substantial Weekly Gains Wiped Out

Today's drop in Viridien erases much of the gains accumulated over the week, with the performance over the past seven days now only at 1.51%. The stock has fallen below the upper Bollinger band, which is at €135.36, after having approached it in recent sessions. The RSI, which shows a level of 78, already indicated an overbought zone, suggesting a situation where the stock had rapidly increased, likely leading to profit-taking.

This technical correction is part of a broader movement: however, the performance remains remarkable over three months (+36%) and over a year (+71.64%), while the price still maintains well above its 50-day moving average (€122.51) and far above the 200-day average (€85.52). The next support level identified is at €109.10. The SBF 120, which includes Viridien, was down 1.39% during the session, confirming the widespread selling pressure on the Paris stock market this Friday.

Revised Downward Price Target Amid Rising Oil Prices

On March 18, the research firm AlphaValue raised its price target on Viridien from €97.80 to €112.00, while maintaining a sell recommendation. This target remains 12.3% below the current price of €127.70, indicating a significant downside potential according to the analyst. This revision comes as Brent crude crossed the $107 threshold this Friday morning, up 50% since the end of February, driven by the conflict in the Middle East. The TTF gas price has almost doubled over the same period. Viridien, specializing in data technologies for the natural resource exploration sector, operates in a disrupted energy environment that can both support the demand for geoscientific services and increase macroeconomic uncertainty. The next quarterly results, expected on May 5, will shed light on how the group is navigating this phase of tensions in the energy markets.