Alten's Shares Drop 3.5% Erasing Late June Rebound
The engineering and technology consulting specialist significantly falls as the market closes, weighed down by renewed tensions in the Middle East. The stock plunges below its mid-term technical benchmarks, erasing the rebound that began at the end of last month.
A Decline That Brings the Stock Back to Its €52.45 Support
Alten's stock drops 3.31% to €54.10, in an SBF 120 that falls by 1.83%. The movement is part of a tense market context, marked by new military escalation between Washington and Tehran and a VIX volatility index surge of nearly 12%. The stock falls below its 20-day moving average (€57.02) and moves away from its 50-day MA (€60.12), now 10% apart. The 200-day MA at €64.74 remains over 16% above the current price, confirming the underlying bearish trend, with the annual performance at -29%. The price returns to its support at €52.45, which was already tested at the end of June when the stock had rebounded. The RSI at 44 remains neutral, leaving room for further decline before reaching an oversold zone.
A More Measured Valuation After the Annual Correction
Today's decline extends a difficult period for the stock, which has lost nearly 16% over a month despite a modest gain of 2% over the week. Over three months, the stock still shows a slightly positive performance of 3%, but the momentum has reversed since mid-June, with several sessions of marked decline already discussed in our recent briefs. According to the consensus of analysts surveyed, the stock is trading at about 7.5 times earnings for the current fiscal year and 6.7 times those of the next year, with an expected EPS growth of nearly 11% from one year to the next. This level of multiple, significantly lower than those shown at the beginning of the year, reflects persistent skepticism around the stock, in a macroeconomic environment burdened by geopolitical tensions in the Gulf. The €52.45 support remains the next technical benchmark to watch.
