Eutelsat Shares Bounce Nearly 3%, Boosted by LEO Contracts
The satellite operator rebounds mid-session after a series of profit-taking had reduced the stock by more than 10% over the past week. The stock regains strength in a well-oriented Parisian market, as the commercial momentum around low Earth orbit connectivity continues to fuel the case.
Eutelsat Communications Shares Gain Amid Market Recovery
Eutelsat Communications shares are up 2.86% at €2.88, among the top gainers in the SBF 120, while the broader index is up 0.73%. The rebound only partially erases the weekly decline, which still stands at nearly 12%. Over three months, the performance remains largely positive, at over 37%, reflecting the magnitude of the rally that began in the spring around the LEO repositioning. However, the stock remains technically fragile.
The price is 16.3% below its 20-day moving average (€3.44) and 2.0% below its 50-day moving average (€2.94), while the 200-day moving average, at €2.70, still provides support with a positive gap of 6.7%. The RSI at 40 indicates seller exhaustion in recent sessions without yet signaling a clear reversal, and the MACD remains in negative territory. The support at €2.65 is the technical threshold to watch in case of a relapse.
LEO Commercial Momentum Continues to Fuel the Satellite Case
Fundamentally, the operator continues to announce commercial deals around its low Earth orbit constellation. On June 8, Eutelsat signed a partnership with Finnish operator Voimatel to deploy its LEO services across Finland, following an agreement on June 4 with Tototheo Global for the maritime segment. This series of contracts extends the trajectory outlined during the 9M 2025/2026 accounts published on May 12, where the group reported a 50% year-on-year increase in LEO activity revenue, in a set penalized by a negative currency effect of 42 million euros.
The sector context remains challenging, with the upcoming IPO of SpaceX identified by the market as a competitive pressure point on the satellite segment. After the profit-taking episode at the end of May, the stock's ability to stay above its 200-day moving average, around €2.70, will be crucial to confirm the stabilization begun in recent days.
