Rémy Cointreau's Shares Drop by 2.5%
The cognac group's stock is significantly down at the Paris Stock Exchange in early afternoon trading, despite a generally upward trend in the Parisian market. The stock is digesting the gains accumulated since spring, while short sellers remain firmly entrenched in the capital.
A Decline Bringing the Price Below its 20-Day Moving Average
Rémy Cointreau's stock has fallen by 2.26% to €42.36, while the SBF 120 is up by 0.39% during the session. The stock is sliding to the lower end of the index, while Pernod Ricard, another major player in French spirits exports, is down by 2.12%.
The day's decline brings the price below the 20-day moving average of €43.84 (a gap of -3.38%). However, the stock remains above the MM50 (€41.82) and MM200 (€41.15), indicating that the underlying momentum established since spring is not in question. The RSI at 53 indicates a neutral configuration, consistent with the cooling observed after the 4.5% jump on July 7.
Short Sellers Present and CIC Target Reduced to €43
According to reviewed statements, five funds hold a cumulative 5.28% of the capital in short positions, a high level that has slightly receded over thirty days (5.40% a month earlier). This exposure reflects a persistent bearish institutional stance on the stock, with no recent progression. It warrants monitoring without overinterpretation, as the variation remains modest and the rebound in the stock price over three months (+7.46%) occurs precisely in this context of selling pressure.
From an analysts' perspective, CIC Market Solutions lowered its price target from €44 to €43 on July 8, while maintaining a 'hold' rating. The new target offers only limited potential compared to the current price. Over twelve months, the stock remains nearly 20% down, despite the recovery initiated since the annual accounts were published in early June.
