Rémy Cointreau's Stock Climbs Nearly 3% Despite Short-Seller Pressure
The cognac group's stock continues its recovery on the Paris Stock Exchange at the end of the session, in a Parisian market trending upwards. The stock continues the rebuilding started since the publication of its annual accounts in early June, while short sellers remain firmly entrenched in the capital.
A Rebound Above the MM50 but Still Below the MM20
Rémy Cointreau's stock gained 2.93% to €42.88, up from €41.66 the previous day, while the SBF 120 index rose by 0.54% during the session. The stock is trading above its MM50 at €41.57 (a gap of +3.15%) and its MM200 at €41.21, confirming the underlying bullish trend established since spring. However, the price remains slightly below its MM20 at €43.72 (a gap of -1.92%), indicating that the day's rebound is not yet sufficient to reverse the pause that began last week. The RSI at 50 indicates a balance between buyers and sellers, with no excess in either direction. Over three months, the stock still shows a gain of 15.1%, fueled by the reception of the RC Forward transformation plan, while the weekly performance has declined by 4.4%. Cognac faces a deteriorated sector environment, with exports from the industry having fallen by 10.9% in value for 2024 according to FEVS, which highlights the recent recovery of the stock even more.
A Cumulative Short of 5.28% of the Capital Remains Despite the Recovery
According to reviewed statements, five funds hold a combined net short position of 5.28% of Rémy Cointreau's capital, slightly less than a month ago (5.38%, or -0.10 point). The decrease is marginal: short sellers have not lightened their bearish bet despite the stock's performance since the publication of the annual results on June 4th. This level remains high and signals that a part of the market continues to bet on a correction, in a sector of exporting spirit producers where the company's operating margin has declined by 2.6 organic points to 17.7% and where the dividend was halved. This positioning deserves to be monitored without being overinterpreted: it reflects a persistent caution of institutional investors, not necessarily a scenario shared by the entire market. Regarding analyst opinions, the resistance at €45.42, which the stock has repeatedly tested in June, remains the next technical level to watch to validate a more pronounced recovery.
