Viridien stock among the steepest declines on the SBF 120, following +8% over one month
The French specialist in geosciences and subsurface imaging is lagging at the bottom of the SBF 120 standings on this morning of September 30, while the broader index trades virtually flat. The decline occurs in a context where short sellers have significantly reinforced their positions on the stock over the past month.
A decline that brings the stock back to contact with its 50-day MA at €89.67
Viridien is down 2.77% at €89.45 in mid-morning trading, ranking among the steepest declines on the SBF 120 in an index retreating by only 0.08%. The stock falls below its 20-day MA at €91.81, moving away by 2.57%, and is now trading practically on its 50-day MA at €89.67, with a residual gap of 0.25%. This double breakdown is notable: the 50-day MA had so far provided support during recent pullbacks.
The RSI at 51 remains in neutral territory, signaling neither oversold conditions nor particular overbought levels. The week is down 4.84%, but the monthly balance remains positive at over 8%, and the performance over one year reaches 37.3%, which places today's correction within a still-bullish underlying dynamic. The next identified support level stands at €82.60, still far from the current price, while the resistance at €97.80 remains out of immediate reach.
Net short positions climb to 8.73% of share capital, at the month's high
The short sellers' positioning is weighing on the stock's perception. According to filed declarations, nine funds now cumulatively hold 8.73% of Viridien capital in net short positions, as of September 28. This is 2.23 percentage points higher than thirty days ago, when this cumulative position stood at 6.50%. This rapid one-month progression reflects increased downward pressure from institutional investors positioned bearishly, whether through direct bearish bets or portfolio hedges.
A level above 8% remains unusual on the French market and warrants close monitoring, even if it does not predetermine the direction of the next move. Analyst consensus remains itself mixed: Goldman Sachs initiated coverage in early September with a €118 price target, implying upside potential of more than 30% relative to the current price, while Bernstein had raised its target at the same time. The tension between this displayed potential and the reinforcement of short positions constitutes the central axis for tracking the stock's performance in the coming sessions.
