Parrot's Stock Soars 9% Targeting a Key Resistance at €12.84
The French micro-drones manufacturer continues its stock market ascent, riding on the announcement of a first-quarter revenue surge. The stock is among the top gainers on the Paris exchange by midday. The momentum extends as the stock has risen about 70% since winter.
A Rebound Driven by Quarterly Earnings and Favorable Session Ranking
Parrot's stock is up 9.22% at €12.08 during the session, up from €11.06 the previous day. The stock ranks among the top gainers of the CAC All Shares by midday, while the CAC 40 is up 0.49% and the SBF 120 is up 0.52%.
The movement extends the reaction to the announcement of the first-quarter revenue, revealed on May 20. The group reported consolidated revenue of €27.9 million, up 52% at current exchange rates, driven by a doubling of professional micro-drones activity to €21.3 million. The company reported slight profitability for the period, with no cash consumption, while noting ongoing tensions on some critical components and the ongoing economic transition at PIX4D. Parrot anticipates further activity growth in the second quarter.
Over seven days, the stock has gained 26.89%. Over three months, the increase reaches 69.66%, placing the stock in a marked uptrend this spring.
The Price Firmly Above Its Moving Averages, Approaching Its €12.84 Resistance
At €12.08, the stock is above the MM20 (€10.06) and MM50 (€10.08), with a gap of about 20% over these two references. The MM200 at €8.69 is surpassed by nearly 39%, reflecting the magnitude of the recovery since winter. The RSI at 62 remains in a neutral zone, with no immediate overheating signal despite today's surge.
The price is now approaching the identified resistance at €12.84, which is just over 6% above the current level. The support at €9.07 remains distant, located about 25% below today's price. The MACD displays a slightly positive histogram (0.09), with a MACD line at -0.12 still below zero but recovering against the signal line at -0.21.
Additionally, on May 14, the group announced the delivery of 175 additional ANAFI UKR systems in the second quarter, as part of a European armored vehicles program. The next observable milestone will be the stock's ability to test or breach the €12.84 zone identified as resistance.
